India ranks third in world billionaire list, replaces Germany

India has regained its third spot from Germany in world billionaire list. According to the Hurun Global Rich List 2018, four Indians made it to the top 100 billionaires worldwide.

With 31 new Indians on the list, India ranks third after China and USA, the report mentioned.

Rupert Hoogerwerf, Chief Researcher and Chairman of Hurun Report said that this has been a period of great entrepreneurship in China, while it has been good for India as well.

The addition of 31 Indian billionaires came after Indian stock markets record performance in recent times.

The Hurun Rich List 2018 ranked 2,694 billionaires from 68 countries and 2,157 companies. The total wealth of these billionaires increased by 31% to USD 10.5 trillion - that is 13.2% of the global GDP.

The list showed that Mukesh Ambani remained the richest Indian but wealth of Gautam Adani doubled and grew by 109% to USD 14 billion.

Ambani's wealth expanded by 73% to USD 45 billion.

Three of the youngest billionaires in India are Shradha Agarwal, 32, of Outcome Wealth, Divyank Turakhia, 35, of Directi and Vijay Shekhar Sharma, 39, of Paytm.

Lakshmi Mittal, with USD 18 million is the second-richest Indian on the list. The Godrej Group has added 5 billionaires to the list, while Hero Honda and Asian Paints have added three each.

One of the interesting claims the Hurun report made is that the wealth of US President declined by USD 1 billion, leaving him with a net worth of USD 3.5 billion. This caused a sharp drop in his rankings by 353 places down to 748.

Meanwhile, the Indian pharmaceutical industry had the largest concentration of billionaires, with 19 of them. This was followed by Automobile and components with 14 people and consumer products with 11 billionaires.