The report stated India replaced Germany, where it currently stands at fifth place with 114 billionaires
With 31 additional billionaires, India regained its spot as the country with the third largest number of billionaires.
According to the Hurun Global Rich List 2018, four Indians made it to the top 100 billionaires worldwide.
Mukesh Ambani of Reliance Industries at USD 45 billion, followed by Dilip Shanghvi of Sun Pharma at USD 15 billion, Gautam Adani of Adani Enterprises at USD 15 billion and Shiv Nadar of HCL technologies at USD 14 billion.
The report stated India replaced Germany, where it currently stands at fifth place with 114 billionaires. The list of Indian billionaires does not include billionaires of Indian origin, which would increase the number to 170.
7 of the top 10 billionaires are from the USA.
The Indian pharmaceutical industry had the largest concentration of billionaires, with 19 of them. This was followed by Automobile and components with 14 people and consumer products with 11 billionaires.
The combined wealth of the Indian Billionaires increased by 49 percent to USD 454 billion.
The report states that China has the largest number of billionaires, with a staggering 819 billionaires in the greater China region. Close to 210 people, or a quarter of China’s billionaires were added just last year.
The report further stated that combined worth of all these billionaires in China is USD 2.5 trillion, which is close to 3.2 percent of the world’s economy.
This is a fifth of the total wealth amassed by the billionaires of the world combined — a staggering 31 percent to USD 10.5 trillion.
This is equivalent to 13.2 percent of the global GDP. The report further said that it took a mere 6 years for this number to double.
Interestingly, the report claims that US President Donald Trump’s wealth has reduced by USD 1 billion, leaving him with a net worth of USD 3.5 billion. This caused a sharp drop in his rankings by 353 places down to 748.
The top five companies are all technology based, cementing the phrase “Data is the new oil” as the contemporary adage. The report states that Alphabet , which owns Google has the highest market capitalization with USD 761 billion, followed by Microsoft at USD 708 billion, Amazon with USD 701 billion, Chinese technology company Tencent at 540 billion and Facebook at 515 billion.
