Mukesh falls five places in Forbes rich list

Mexican billionaire Carlos Slim remained the richest person in the world, with $74 billion in assets, while NRI steel magnate Lakshmi Mittal ranked sixth and Reliance Industries chief Mukesh Ambani was placed ninth in US magazine Forbes’ annual list of the world’s top billionaires.

Telecom tycoon Helu, whose worth increased by $20.4 billion from last year’s $53.5 billion, is followed by Microsoft founder and now a full-time philanthropist William Gates III (popularly known as Bill Gates), with a net worth of $56 billion.

Investment guru Warren Buffet is at the third spot, with assets worth $50 billion. The total number of billionaires this year has increased to a record 1,210 from 1,011 last year. Though America has 33 per cent of the mega-rich, the Asia-Pacific region surged forward and overtook Europe for the first time.

The chairman of French luxury goods outfit, Louis Vuitton Moet Hennessy (LVMH), Bernard Arnault, has been placed at fourth spot. With a net worth of $41 billion, he is the richest person in Europe. He has replaced Ambani this year. The fifth place has been taken over by Larry Ellison of Oracle, with a fortune of $39.5 billion.

Mittal ranked sixth with $31.1 billion of wealth. His wealth grew from $28.7 billion last year, as his company, ArcelorMittal, the world’s largest steel-maker, registered profits of $2.9 billion due to recovery in steel demand and higher margins in 2010, Forbes said. Mukesh Ambani, with a net asset of value $27 billion, lost five places and was placed at ninth position in this year’s list. Last year, Ambani held the fourth spot, with a net asset of $29 billion, followed by Mittal at fifth place.

“In one of the biggest foreign investments in India, Reliance Industries has signed a deal with BP by selling 30 per cent stake in 23 oil blocks in India for $7.2 billion and forming a marketing joint venture,” the magazine said.

According to Forbes, the number of billionaires has increased from 49 to 55 in India, 69 to 115 in China, 25 to 36 in Hong Kong, and across the Asia-Pacific it surged from 243 to 332.

Other Indians among the top 100 include Wipro chief Azim Premji at 36th spot ($16.8bn), Shashi and Ravi Ruia at 42nd place ($15.8 bn), Savitri Jindal 56th ($13.2 bn), Gautam Adani at 87th ($10 bn) and Kumar Birla at 97th ($9.2 billion).