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Hurun Global Rich List: Jeff Bezos retains No 1 spot, Mukesh Ambani richest in Asia

Reliance Industries Chairman Mukesh Ambani was the only Indian to make into the top 10 rankings this year with a net worth of $67 billion

Chitranjan Kumar | February 26, 2020 | Updated 23:01 IST
Hurun Global Rich List: Jeff Bezos retains No 1 spot, Mukesh Ambani richest in Asia
Since last 5 years, Mukesh Ambani added Rs 7 crore every hour

Amazon founder and CEO Jeff Bezos is still the richest person in the world, even after losing $7 billion in one year, according to the ninth annual Hurun Global Rich List. Bezos, 56, has retained the top spot for the third year with an estimated net worth of $140 billion, mainly due to the world's largest divorce settlement with former wife MacKenzie Bezos, who made the list in her own right with $44 billion.

French billionaire business magnate Bernard Arnault ranked second, with an estimated worth of $107 billion, up $ 21 billion from last year, according to Hurun Global Rich List 2020. Microsoft founder Bill Gates and Warren Buffett were on third and fourth spots, respectively.

Bezos, Arnault, Gates and Buffett were the only four billionaires on the list with wealth over $100 billion.

Reliance Industries (RIL) Chairman Mukesh Ambani was the only Indian to make into the top 10 rankings this year with a net worth of $67 billion. Ambani, 62, ranked among 10 richest billionaires for the second time after a $13 billion or 24 per cent jump in his wealth to $67 billion. Since last 5 years, Mukesh Ambani added Rs 7 crore every hour, according to Hurun Global Rich List.

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The only Asian in the top 10, Ambani's wealth increased mainly on the back of a good performance in his telecom business. RIL became the first Indian company to achieve Rs 10 lakh crore ($140 billion) market capitalisation. Ambani is restructuring RIL to facilitate planned strategic investments in group businesses - Reliance Jio, Reliance Retail, refining and petrochemicals. The conglomerate aims to be a zero-net-debt company by March 2021 and is in talks to sell 20 per cent stake in its oil-to-chemicals business to Saudi Aramco at an enterprise value of $75 billion.

Hinduja group's SP Hinduja and family ($27 billion), Adani group Chairman Gautam Adani ($17 billion), HCL's Shiv Nadar and family ($ 17 billion), ArcelorMittal's Lakshmi N Mittal ($15 billion), and Kotak Mahindra Bank's Uday Kotak ($15 billion), were among other Indians who featured in the top 100 of Hurun Global Rich List.

Gautham Adani saw his wealth skyrocket by $7.1 billion to $17 billion, after the demerger of his renewables generation and city gas distribution businesses.

Uday Kotak, 60, of Kotak Mahindra Bank shot straight into the top 100 list with $15 billion. The bank's share price hit an all-time high after Reserve Bank of India cleared plans for dilution of promoters' shareholding, adding to Kotak's wealth.

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According to the report, India jumped to the third spot in term of number of billionaires on the Hurun Global Rich List with 138 billionaires, 34 more than last year, despite economic slowdown. With 50 individuals on the Rich List, Mumbai houses most of India's super-rich, followed by New Delhi (30) and Bengaluru (17).

Jay Chaudhry of Zscaler was the richest new entrant with a wealth of Rs 25,000 crore, followed by Vivek Chaand Sehgal of Motherson Sumi Systems with a net worth of Rs 15,200 crore.

Hurun Report India MD and chief researcher Anas Rahman Junaid said, "Indian billionaires are defying gravity. The structural slowdown in the economy does not seem to hamper the growth of Indians in the Hurun Global Rich List. The missing pieces in the puzzle are automobile and the real estate sector and we expect exponential wealth creation in those sectors in the coming years."

"If the economy were to grow apace to meet the $5 trillion target, the total wealth creation would at least double the current value," Junaid added.

The Hurun Global Rich List 2020 ranked 2,817 billionaires from 71 countries and from 2,183 companies.

ALSO READ:From Jack Ma to Bill Gates, billionaires donate funds to create coronavirus vaccine

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