Mukesh Ambai richest Indian; Jeff Bezos tops global rich list

Agencies
March 7, 2018

New York, Mar 7: Mukesh Ambani's net worth has soared to $40.1 billion, making him the richest Indian for the 11th year in a row, while Amazon founder Jeff Bezos toppled Bill Gates as the world's wealthiest person, says Forbes.

According to Forbes' 2018 'World's Billionaires' list, Reliance Industries Chairman Mukesh Ambani's wealth surged a whopping 72.84% to $40.1 billion (Rs 2,60,622 crore) - highest among the 119 Indian billionaires on the list.

Ambani was ranked 19th globally, up from 33rd position in 2017.

"Mukesh Ambani chairs and runs $51 billion (revenues) oil and gas giant Reliance Industries, among India's most valuable companies," Forbes said.

Bezos, referred to as the "Centi-billionaire", topped the list with a net worth of $112 billion, becoming the only person to appear in the Forbes list with a 12-figure fortune.

"Shares of his e-commerce giant Amazon rose 59% in 12 months, helping boost his fortune by $39.2 billion. It was the biggest one year gain since Forbes started tracking billionaires in 1987," it said.

The Amazon founder moved ahead of Bill Gates, who is now the second richest person globally with a fortune of $90 billion.

According to Forbes, India is home to 119 billionaires, 18 more than last year.

This year's list consists of 2,043 of the richest people in the world.

The combined net worth of this elite group is a whopping $9.1 trillion, up 18% since last year. Their average net worth is a record $4.1 billion.

Azim Premji is the second richest Indian and was ranked 58th on the overall list with a net worth of $18.8 billion, followed by Lakshmi Mittal (62nd position, net worth of $18.5 billion), Shiv Nadar (98th, $14.6 billion) and Dilip Shanghvi (115th, $12.8 billion).

The 10 richest Indians include Kumar Birla, ranked 127th overall with a fortune of $11.8 billion, Uday Kotak (143, $ 10.7 billion), Radhakishan Damani (151, $10 billion), Gautam Adani (154, $ 9.7 billion) and Cyrus Poonawalla (170, $9.1 billion).

Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.

"Acharya Balkrishna derives his fortune from fast-growing consumer goods giant Patanjali Ayurved. Balkrishna owns 98.6% of the privately-held company, which he cofounded with politically well-connected yoga guru Baba Ramdev," Forbes said.

Meanwhile, Anil Ambani, the younger sibling of Mukesh Ambani was ranked 887th on the list with a net worth of $2.7 billion.

Indian jeweller Nirav Modi is among the drop-offs from the list, along with Papa John's Pizza founder John Schnatter, Christoffel Wiese of South Africa, and Saudi Arabia's Prince Alwaleed Bin Talal Al Saud.

Donald Trump, who became the first billionaire president in US history in January 2017, was ranked 766th on the list, down from 544, with a fortune of $3.1 billion.

Trump's fortune fell $400 million since March 2017.

There were 259 newcomers, including the first ever cryptocurrency billionaires, while 121 dropped out due to falling fortunes or political headwinds, including 10 Saudi Arabians.

Forbes further noted that the gap between the really rich and the merely rich continues to widen, as fortunes soar to new heights so much so that the 20 richest people on the planet are worth a staggering $1.2 trillion, a sum roughly equivalent to the annual economic output of Mexico.

"In aggregate, they may represent less than 1% of total billionaires but their riches amount to 13% of the total fortune of all billionaires worldwide," Forbes said.

The Forbes Worlds Billionaires list is a snapshot of wealth using stock prices and exchange rates from February 9, 2018.

Comments

JP
 - 
Wednesday, 7 Mar 2018

ACHE DIN ....ATLEAST FOR AMBANI/ADANI

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News Network
July 1,2020

Bengaluru, Jul 1: A day after the Government banned several Chinese apps, popular short-form video app Mitron reported that its daily traffic jumped up by more than 11 times.

Just 5 days after crossing the 10 million (1 crore) downloads milestone, Mitron has now announced that the app has been downloaded by 17 million (1.7 crore) users in India. Mitron app has been one of the most downloaded apps in India during the last two months.

"It is incredibly exciting to see the rapid adoption of Mitron by Indian users. 11-fold jump in traffic, immediately after the ban of Chinese apps, was beyond our expectations," said Shivank Agarwal, Founder, and CEO, Mitron.

Anish Khandelwal, Founder and CTO said, " We have built a solid backend infrastructure and our platform is now completely scalable and autonomous and that is helping us to cater to the sharp rise in traffic on Mitron App."

Mitron has been rapidly enhancing the product with several improvements for the users including an updated video upload process that is much easier, enhanced audio library with a wide choice of Indian content, and a feature that enables users to flag any inappropriate content easily.

Users uploaded millions of videos in 10 different languages and the number of videos viewed on the platform increased sharply to cross 30 million video views per hour.

Shivank added "We are a young company and we are hiring some of the best product & engineering talent to scale up Mitron rapidly. We are confident that we can build Mitron into one of the best apps in the short-form video space. Our focus is on building features and content that uniquely resonates with Indian users, while being sensitive to community standards and local laws in India and we believe that will help us build Mitron into a very large business."

Founded by two Computer Science engineers, Shivank Agarwal (alumnus of IIT Roorkee) and Anish Khandelwal (alumnus of Visvesvaraya National Institute of Technology), Mitron app is a short-form video app that allows users to create, upload and view entertaining short videos.

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News Network
April 17,2020

New Delhi, Apr 17: With 1,076 new cases of COVID-19 in the last 24 hours and 32 deaths, India's total count of coronavirus cases has surged to 13,835, said the Union Ministry of Health and Family Welfare on Friday.

The total cases are inclusive of 1,766 cured and discharged patients, one migrated and 452 deaths. At present, there are 11,616 active COVID-19 cases in the country.

Before the lockdown, the doubling rate of COVID-19 cases was about three days, but according to the data of the past 7 days, the doubling rate of cases now stands at 6.2 days, said Lav Aggarwal, Joint Secretary, Health and Family Welfare.

"Before the lockdown, doubling rate of COVID-19 cases was about three days but according to the data of past 7 days, the doubling rate of cases now stands at 6.2 days," Aggarwal said during the daily briefing on COVID-19.

Aggarwal said that as many as 5 lakh rapid antibody testing kits are being distributed to States and Districts where a high case burden has been observed.

"A total of 1,919 dedicated COVID-19 hospitals with 1.73 lakh isolation beds, 21,800 ICU beds readied in India," he added. 

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News Network
March 12,2020

Bengaluru, Mar 12: Imarti Devi, who recently resigned as Congress MLA from Madhya Pradesh, on Wednesday said that she was happy with Jyotiraditya Scindia's decision to join the BJP.

Imarti said: "All 22 MLAs are here (in Bengaluru) on their own. We're happy that Scindiaji has taken this decision. I'll always stay with him even if I had to jump in a well."

"When we were in the Congress, Kamal Nathji never heard us," she said.

Another rebel leader and former minister Mahendra Singh Sisodia said: "Betrayal is not done by Jyotiraditya Scindia. Instead, betrayal was done by the Congress and Kamal Nathji."

"Congress betrayed the people of Madhya Pradesh. We are with Jyotiraditya Scindia," he said.

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