Mittal, Ambani bros among Forbes top 10 super-rich

[jattafridi]

http://in.news.yahoo.com/indianexpr...l-ambani-bros-among-forbes-top-2d74fbd_1.html



Thu, Mar 6 05:31 PM

In changing sweepstakes in world's billionaire club, India's Anil Ambani has emerged as the biggest wealth creator, while famed American investor Warren Buffett has overtaken software czar Bill Gates and Mexican tycoon Carlos Slim to lead the list of world's richest people released by Forbes on Thursday.

As many as four Indians -- steel tycoon Lakshmi Mittal, Mukesh Ambani, his estranged younger brother Anil and realty baron K P Singh -- have made it to top 10 positions, as against just one, Mittal, a year ago.

India has retained its position as the top source of billionaires in Asia with total 53 people, who have a cumulative networth of 340.9 billion dollars on Forbes' 2008 World's Billionaires list consisting of 1,125 people with a combined wealth of 4.4 trillion dollars. A year ago, there were just 179 billionaires, Forbes said.

With a networth of 62 billion dollars, Buffett has topped the list, followed by Carlos Slim Helu (60 billion dollars) and Bill Gates (58 billion dollars) on second and third positions.

These three are followed by three Indians -- Lakshmi Mittal (45 billion dollars), Mukesh (43 billion dollars) and Anil (42 billion dollars) on fourth, fifth and sixth ranks.

Besides, DLF's K P Singh (30 billion dollars) has been ranked, after Sweden's Ingvar Kamprad (31 billion dollars).

Other two in the top 10 are Russia's Oleg Deripaska Forbes said that Anil Ambani is the biggest gainer with wealth soaring by 23.8 billion dollars since the last list. He is only one billion dollars behind his brother Mukesh, who is the second biggest gainer with a rise of 22.9 billion dollars in his networth.

Lakshmi Mittal has gained 13 billion dollars from last year, pushing him one place higher to fourth rank this year.

Among Indians, Mittal, Ambanis and Singh are followed by Essar group's Shashi and Ravi Ruia at 43rd rank globally with a combined networth of 15 billion dollars, Wipro's Azim Premji (60th with 12.7 billion dollars), Sunil Mittal and family (64th with 11.8 billion dollars) and Kumar Birla (76th with 10.2 billion dollars).

These are followed by Unitech's Ramesh Chandra (86th with 9.6 billion dollars), Guatam Adani (91st with 9.3 billion dollars), Savitri Jindal (110th with 8.2 billion dollars), Anil Agarwal (164th with 6 billion dollars), Adi Godrej (178th with 5.5 billion dollars) and GMR's G M Rao (198th with 5.2 billion dollars).

Forbes said that the number of billionaires has crossed into four figure for the first time and two-third of them are self-made billionaires, having built their empires from scratch.

The total number of Asian billionaires jumped by a third to 211 with a total wealth of 804 billion dollars, up from 552 billion dollars last year. The latest list is based on networth valued as on February 11.

India is followed by China (42), Hong Kong (26) and Japan (24) as the top source of billionaires in Asia.

The list has 469 US billionaires with a total of 1.6 trillion dollars wealth, while there are 656 non-US billionaires worth a total of 2.8 billion dollars.

Another Indian businessman Guatam Adani has emerged as Asia's richest newcomer to the list with a networth of 9.3 billion dollars, while Anand Jain -- a friend of Reliance Industries Chairman Mukesh Ambani -- is the sixth richest newcomer with 3.4 billion dollars. In Asia, China and India are the two top countries for newcomers with 28 and 19 billionaires respectively.

 

[Vegitto1]

won't mind getting married to one of their daughters

 

[jusarrived]

huge corrections in Indian stock market was the reason they are at 4 , 5 , 6 & 8th position .....Anil ambani will the richest person in the world very soon .....I have been saying this for couple of years now & hes almost there !!

 

[moumotta]

Amazing how the Ambanis split and now both brothers are in world's top ten.

 

[Gabbar Singh]

Holy thread revival Etc......

What a decade it’s been for the younger Ambani - his net worth has shrunk to about $300 million from at least $31 billion in 2008.

Meanwhile the elder brother’s net worth is $54 billion and has increased $10 billion this year alone.

Anil didn’t even have $80 million spare to make a payment to Ericsson and had to rely on his brother bailing him out.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Ex-billionaire Anil Ambani's richer brother made an $80 million payment to prevent him from going to jail <a href="https://t.co/4VuiyyBT6G">https://t.co/4VuiyyBT6G</a></p>— Bloomberg (@business) <a href="https://twitter.com/business/status/1107877519083085826?ref_src=twsrc%5Etfw">March 19, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Bhaijaan]

As a kid growing up I used to feel quite thrilled seeing Indian origin people making this list.

Now i feel the absolute opposite knowing al this is at the expense of small scale entrepreneurs being forced to quit and millions being turned into modern day corporate slaves to make a select few super rich.

 

[jusarrived]

huge corrections in Indian stock market was the reason they are at 4 , 5 , 6 & 8th position .....Anil ambani will the richest person in the world very soon .....I have been saying this for couple of years now & hes almost there !!

lol how wrong was I . Anil has messed up big time

 

[Realromeo]

As a kid growing up I used to feel quite thrilled seeing Indian origin people making this list.

Now i feel the absolute opposite knowing al this is at the expense of small scale entrepreneurs being forced to quit and millions being turned into modern day corporate slaves to make a select few super rich.

That's most of sane Indians. Now who cares if Ambani becomes the richest person in the world ? Who cares if we go to space ? We still have poverty and people are dying without proper public healthcare.

 

[jusarrived]

That's most of sane Indians. Now who cares if Ambani becomes the richest person in the world ? Who cares if we go to space ? We still have poverty and people are dying without proper public healthcare.

it matters cos some of these companies employ millions of people . To build toilets or eliminate poverty , govt needs money which comes from taxes . Reliance industries would be playing close to 2 billion $$ in taxes this FY

 

[troodon]

That's most of sane Indians. Now who cares if Ambani becomes the richest person in the world ? Who cares if we go to space ? We still have poverty and people are dying without proper public healthcare.

As if we were propspering and thriving when India had a close Market.

Now at least educated youngsters can hope to climb up the economic ladder. Previously, it was Govt job or bust for many. There were only a few jobs available and people were stuck in poverty.

India is in a much much better state than it was 3 decades ago.

 

[Slog]

I always am baffled as how so many Indians on the internet take pride in such achievements as if they are their own

 

[troodon]

I always am baffled as how so many Indians on the internet take pride in such achievements as if they are their own

Ambanis do provide jobs to thousands of educated folk. They got rich in the process, but that is how capitalism works.

 

[Bewal Express]

lol how wrong was I . Anil has messed up big time

May be our Ind friends can start crowd funding the poor Anil. How does this poor guy live with a meagre $300mn

 

[Xoib]

it matters cos some of these companies employ millions of people . To build toilets or eliminate poverty , govt needs money which comes from taxes . Reliance industries would be playing close to 2 billion $$ in taxes this FY

What you are saying is not wrong but FC has a point. I am very closely related to the polyester industry in Pakistan and I know quite a few Indians who work in the sector in India and the likes of Reliance, Bilhosa keep getting bigger by absorbing the small ones and now they control the market they set their prices and are very rarely doing any innovation thus dictating the
Market fundamentals at their own terms

 

[jusarrived]

What you are saying is not wrong but FC has a point. I am very closely related to the polyester industry in Pakistan and I know quite a few Indians who work in the sector in India and the likes of Reliance, Bilhosa keep getting bigger by absorbing the small ones and now they control the market they set their prices and are very rarely doing any innovation thus dictating the
Market fundamentals at their own terms

Obviously there is a flip side to it , but that’s how it works right . If not reliance it would have been someone else . They don’t let any one company to dominate the market anyway , every sector they are in there are 4-5 other big players . While they may not be great for smaller players , consumers benefit in the end . Just take mobile call/data rates in India . Almost 15 years back I remember spending close to 2k monthly on phone bills just making a few calls a day and now doing everything on my phone , last months bill was 900 Rs .

As much as people complain about corporates , you have to agree every developed country woes it big to these companies . If anything countries like India and Pakistan need more of them . I would rather see reliance , Infy or ola grow bigger than Amazon , IBM or Über ..may be IBM ( Ex employee ) lol

 

[jusarrived]

I always am baffled as how so many Indians on the internet take pride in such achievements as if they are their own

Not necessarily their personal wealth , but may be companies they have built . I would love to see a google , tesla or a Amazon league company come out of India

 

[Slog]

Ambanis do provide jobs to thousands of educated folk. They got rich in the process, but that is how capitalism works.

Ok I guess you have a point there though often the pride has nothing to do with that process

To be honest I think that more in terms of pride in the google Tamil guy or Nadella the Microsoft guy who had to leave India and get degrees in the US to propel forward

 

[Xoib]

it matters cos some of these companies employ millions of people . To build toilets or eliminate poverty , govt needs money which comes from taxes . Reliance industries would be playing close to 2 billion $$ in taxes this FY

Obviously there is a flip side to it , but that’s how it works right . If not reliance it would have been someone else . They don’t let any one company to dominate the market anyway , every sector they are in there are 4-5 other big players . While they may not be great for smaller players , consumers benefit in the end . Just take mobile call/data rates in India . Almost 15 years back I remember spending close to 2k monthly on phone bills just making a few calls a day and now doing everything on my phone , last months bill was 900 Rs .

As much as people complain about corporates , you have to agree every developed country woes it big to these companies . If anything countries like India and Pakistan need more of them . I would rather see reliance , Infy or ola grow bigger than Amazon , IBM or Über ..may be IBM ( Ex employee ) lol

I differ in thinking to you I much prefer the German style of industrialisation where sme firms in the region of market value of 500 million to 1 billion euro power their growth most of these companies are market leaders in their niche segments few of them like Siemens or Thyssen Krupp do end up becoming a global giant but the focus remains on promoting the growth of these type of firms are they are the real employment as well as innovation generator

 

[Realromeo]

As if we were propspering and thriving when India had a close Market.

Now at least educated youngsters can hope to climb up the economic ladder. Previously, it was Govt job or bust for many. There were only a few jobs available and people were stuck in poverty.

India is in a much much better state than it was 3 decades ago.

Never disagreed.