World's richest gain $12.5 bn this week

The 20 richest people in the world gained a combined $12.5 billion this week, as Brazilian Eike Batista’s net worth surged $7.2 billion after he sold a stake in his commodities empire.

Batista sold 5.6 per cent of his EBX Group holding company to Abu Dhabi's Mubadala Development for $2 billion on March 26. That propelled him to the eighth spot on the Bloomberg Billionaires Index, a daily ranking of the world’s richest people. He held the spot for three days, before sliding back to 10th, as shares of his oil producer, OGX Petroleo & Gas Participacoes SA, fell 2.2 per cent yesterday.

 

Mukesh Ambani’s wealth rose $384.9 million to $24.3 billion, as shares of Mumbai-based Reliance Industries, operator of the world's biggest oil-refining complex, rose for the first time in five weeks, adding 0.9 per cent. His company joined a rally for Indian stocks after the government issued a clarification for foreign investors on new tax proposals.