Four Indians in Forbes list of 10 richest in world
By Parveen Chopra, New York, March 6, 2008 (IANS)

Four Indians are among the 10 richest in the world, the highest number from a single country, according to Forbes' list of world's billionaires. While Warren Buffet, the Berkshire Hathaway investor, takes the title of the world's richest man from Microsoft chief Bill Gates who slips to third place after a 13-year reign at the top, Britain-based industrialist Lakshmi Mittal has climbed one spot from last year to be ranked fourth this year in the US magazine's annual list of billionaires released Wednesday. With a net worth of $45 billion, Mittal heads the world's largest steel maker ArcelorMittal. He lives in Britain but retains his Indian citizenship.

Just behind Mittal is Mukesh Ambani at No 5. With a net worth of $43 billion, he is Asia's richest resident. He heads petrochemicals giant Reliance Industries, India's most valuable company by market cap. His fortune is up $22.9 billion since last year, making him the world's second biggest gainer in terms of dollars. His rank last year was 14.

Mukesh's estranged brother Anil Ambani is the biggest gainer. He now ranks sixth in the world, climbing 12 places from last year. He gained $23.8 billion over the year and is now worth $42 billion. His biggest asset is his 65 percent stake in telecom venture Reliance Communications. He raised $3 billion last month from the Reliance Power IPO, the biggest in India's history. Despite the hype, the stock tumbled 17 percent immediately after it was listed.

K.P. Singh, chief of real estate developer DLF, has climbed from 62nd place to eighth, helped by his company's listing which tripled his fortune to $30 billion.

The world's three richest men remain the same from last year, though their ranks have been changed around. Behind Buffet at $62 billion on the top is Mexican telecom tycoon Carlos Slim Helú who has doubled his fortune in two years to $60 billion. Gates has been relegated to third place with $58 billion. The number of billionaires Forbes could identify has crossed into four figures, reaching 1,125. The total net worth of the group is $4.4 trillion, up $900 billion from last year.

Despite the turbulence in the US markets, Americans account for 42 percent of the world's billionaires and 37 percent of the total wealth. But the US can now claim only four among the world's 20 richest, down from 10 last year.

India is placed fourth in the number of billionaires. It accounts for 53 and 19 of them make their debut in the elite club. Only US (475), Russia (87) and Germany (59) have more billionaires. Other notable Indians in the list include Ruia brothers Shashi and Ravi of the Essar Group who are at No 43 with $15 billion, up from 86th place last year. Azim Premji of Wipro has slipped from 21st to 62nd place. Sunil Mittal of Bharti group is at No 64.