Economy

Lakshmi Mittal replaces Mukesh Ambani as richest Indian

PTI New York | Updated on March 12, 2018 Published on March 10, 2011

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Mexican billionaire Mr Carlos Slim Helu remained the richest person in the world with $74 billion in assets, while NRI steel magnate, Mr Lakshmi Mittal, and the Reliance Industries chief, Mr Mukesh Ambani, made it to the Top 10 at sixth and ninth places respectively of US magazine Forbes' annual list of world's top billionaires.

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

Investment guru, Mr 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 has surged forward and overtaken Europe for the first time.

Mr Bernard Arnault, Chairman of the French luxury goods outfit, Louis Vuitton Moet Hennessy (LVMH), has been placed at fourth spot. With a net worth of $41 billion, he is the richest person in Europe. He has replaced Mr Ambani this year. The fifth place has been taken by Mr Larry Ellison of Oracle. The Oracle chief sits atop a fortune of $ 39.5 billion, which is $11.5 billion bigger than last year, thanks to a 30 per cent jump in his software company's shares.

Mr Mittal is 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.

Mr Mukesh Ambani, with net asset of value $27 billion, lost five places and was placed at the ninth position in this year's list. Last year, Mr Ambani held the fourth spot, with net asset value of $29 billion, followed by Mr Mittal at the fifth place.

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

Published on March 10, 2011
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