India becomes a home of 138 billionaires; Mukesh Ambani tops the list

In the ninth edition of the Hurun Global Rich List 2020, it has been revealed that in the past one year, India added more than three dollar billionaires every month.

Now the country has a total of 138 billionaires and the country positions third on the global level, states the report.

Whereas, China and the US come first and second having 799 and 626 billionaires, respectively.

India got 34 new billionaires to take the count to 138 on the list, which is ruled by Mukesh Ambani of Reliance Industries being on the top. He has USD 67 billion net worth, minting Rs 7 crore every hour, and the number jumps to 170 if Indian-origin billionaires outside the country are tallied.

According to the list, which comprises of 2,817 individuals around the world having a net worth of USD 1 billion or more, the world has added 480 billionaires in 2019, more than one a day, while China added more than three a week and India did more than three billionaires a month.

Mumbai has once again become the home to more than a third of the richest individuals in India with 50 of them living in the megapolis, making it the ninth richest city internationally, followed by New Delhi with 30, Bengaluru with 17 and Ahmedabad with 12.

Mukesh Ambani is also the ninth richest in the world which is topped by Jeff Bezos of Amazon.

Hurun Report India managing director Anas Rahman Junaid said the Indian billionaires are defying gravity as the deepening slowdown does not seem to hamper their growth.

It can be noted that 2019 was a good year for the stock markets globally with the US bourses rallying 26 percent and Indian and Chinese indices gaining 15 percent and 14 percent, respectively in the year.

The 50 billionaires of Mumbai control around USD 218 billion of wealth between them, followed by 30 in New Delhi holding USD 76 billion and 17 in Bengaluru are worth USD 42 billion, while the 12 in Ahmedabad are worth USD 36 billion and the seven in Hyderabad are worth USD 13 billion, according to Anas Rahman Junaid.

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