Jeff Bezos tops global rich list; Mukesh Ambani richest Indian
Reliance Industries Chairman Mukesh Ambani became the richest Indian for the 11th year in a row while his net worth soared to $40.1 billion. Amazon founder Jeff Bezos topped the Forbes's "World Billionaires" list for the first time, toppling Microsoft co-founder Bill Gates, who has been the world's richest person for 18 of the past 24 years. Ambani was ranked 19th globally. Here's more.
Bezos, only person on the list with 12-figure fortune
Bezos, who is referred as the Centi-billionaire, became the only person to appear in the Forbes list with a 12-figure fortune. His net worth is $112 billion. Shares of his e-commerce giant Amazon rose 59% in 12 months, boosting his fortune by $39.2 billion. According to Forbes, Bezos's is the biggest one year gain since it started tracking billionaires in 1987.
Bill Gates, now the second richest person globally
Bill Gates is now the second richest person worldwide, with a net worth of $90 billion. Meanwhile, Azim Premji became the second richest Indian, ranking 58th on the overall list with a net worth of $18.8 billion. Lakshmi Mittal stood at 62nd position, with a net worth $18.5 billion, followed by Shiv Nadar (98th, $14.6 billion) and Dilip Shanghvi (115th, $12.8 billion).
India has 119 billionaires
According to Forbes, India is home to 119 billionaires, 18 more than last year. Globally, there are 2,043 billionaires. The combined net worth of this elite group is a whopping $9.1 trillion, up 18% since last year. Also, Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.
Drop offs from the Forbes list
Jeweler Nirav Modi is among the drop-offs from the list, followed by Papa John's Pizza founder John Schnatter, Christoffel Wiese of South Africa, and Saudi Arabia's Prince Alwaleed Bin Talal Al Saud. With a net worth of $3.1 billion, the US President Donald Trump's was ranked 766th on the list, down from 544. Trump's fortune fell $400 million since March 2017.
Newcomers on the Forbes list
There were 259 newcomers, including the first-ever cryptocurrency billionaires. Meanwhile, as many as 121 dropped out due to falling fortunes or political headwinds, including 10 Saudi Arabians.