A Chinese research firm, the Hurun Report, compiled a list of world's richest billionaires—Hurun Global Rich List 2014.
Seven in the top ten of the list are from the United States. Bill Gates is at the top of the wealthiest men list with a fortune of US$ 68 billion. This is an increase by US$ 14 billion as compared to last year.
As per the website, wealth calculations are a snapshot of January 17, 2014. The list ranked 1,867 billionaires from 68 countries.
This is the third year that Hurun Report has released a ranking of the billionaires in the world, the so-called ‘Nine-Zero Club’.
India has a larger number of super rich individuals as compared to Germany, Switzerland, France and Japan. Mumbai, with its 33 billionaires, is among the top six billionaire cities in the world.
Not surprisingly, the report reveals Mukesh Ambani is ranked 41st in the list that was topped by Bill Gates. The combined wealth of the Indians billionaires comes to $390 billion.
The US has 481 billionaires, followed by China with 358 billionaires. The US and China now have half of all billionaires on the planet, the report added. UK, Japan, Switzerland, India and Russia are growing fast in terms of billionaires.
So who are the Indians who featured in the list?
Lakshmi N Mittal was ranked 49th with a personal net worth of $17 billion. Dilip Sanghvi of Sun Pharmaceutical Industries and Wipro's Azim Premji both ranked 77th with a personal wealth of $ 13.5 billion each. Tata Sons' Pallonji Mistry ranked 93rd with a personal wealth of $ 12 billion.
SP Hinduja and family was ranked 93rd on the list, with a net worth of $12 billion
Chairman of Wipro Limited, Azim Hashim Premji made it into the list at 77th position while news corp owner and media mogul Rupert Murdoch came at 83rd position.
Founder and chairman of HCL, Shiv Nadar makes it to the list at 105 position while Kumar Birla enters the list at 175th position.
Chairman of Poonawalla Group, Cyrus S Poonawalla made it into the list at 261th position.
Worldwide report:
Some of other prominent Indians on the list:
Writer's take: Perhaps the most interesting aspect of the list is 'source' section where people are classified in two categories. Either self-made or inherited, indicating the source of income. While Bill Gates is self-made, Mukesh Ambani's source of income is inherited. Also, Facebook founder Mark Zuckerberg has made it into the list alongwith WhatsApp founder Jan Koum.
Economists usually club developed and developing countries to identify their growth. In 1990's, BRICS was formed due to surplus investments and opening of stock markets but these countries could not sustain their growth pattern in the start of twenty first century. Hence, any sort of categorisation does not work as the equations of GDP induced growth ranking changes.
This list has taken into account various parameters such as revenue, investments, mode of revenue generation and expansions giving all the countries billionaires an opportunity to be listed.