Mukesh Ambani

Mukesh Ambani has clinched the title of the world’s richest Indian from NRI steel tycoon Lakshmi Mittal, even as both of them saw their fortunes dwindle to less than half in a year, US magazine Forbes has said. Ambani’s rank has nosedived from the sixth place last year with a loss of close to $32 billion in this period.

With a net worth of $19.5 billion, Mukesh Ambani has been ranked seventh in the global list, topped by software czar and Microsoft founder Bill Gates ($40 billion). Mukesh, who has lost more than $23 billion, was ranked at fifth position last year. After Mukesh Ambani and Lakshmi Mittal, the next Indian on the list -- Anil Ambani -- comes far below at the 34th position with a net worth of $10.1 billion.

The Indian presence has more than halved (from 53 a year ago) in the shrinking club of world’s billionaires and the league of 10 richest persons in the world now includes just two Indians, down from four a year ago. Interestingly, this year there are four Indians among the 10 biggest losers -- Anil Ambani, Lakshmi Mittal, KP Singh and Mukesh Ambani -- the same persons who were among the world’s 10 richest last year.