India Ranks 5th On The Global Rich List with 70 Billionaires

China-based research firm Hurun, in its recently released report Hurun Global Rich List 2014, has reported that India is home to the 5th largest group of billionaires with 70 in 2014, 17 more than last year. The richest Indian continues to be Mukesh Ambani, chairman of Reliance Industries, with a fortune of $18 billion, said the report. USA has the maximum number of billionaires (481) followed by China (358). Other countries like the U.K, Japan, India and Russia are also catching up in terms of billionaires, the report added. (see chart below which highlights country-wise billionaires). Among the global rich list, Bill Gates was the richest man alive as his fortunes increased by $14 billion to $68 billion, overtaking Carlos Slim for the first time in three years. Warren Buffett was second with a personal wealth of $64 billion. The third richest person was Amancio Ortega with a net worth of $62 billion. Among cities, New York has the most number of billionaires at 84 followed by Moscow (77) and Hong Kong (65). In India, Mumbai has the most number of billionaires at 33, an increase of 9 from last year. While the combined wealth of Indians billionaires was $390 billion, the total wealth of all the 1,867 billionaires in the report studied amounted to $6.9 trillion, more than the GDP of Japan. Full View