Mukesh Ambani Richest Indian For 8th Yr; Bill Gates On Top Globally: Forbes

Alibaba's Jack Ma and three other Chinese are among the the biggest gainers and figure among 50 richest on the list.

Other Indians on the list include Desh Bandhu Gupta ($5.8 billion), Savitri Jindal ($5.3 billion), Micky Jagtiani ($5.2 billion), Adi Godrej ($4.8 billion), Jamshyd Godrej ($4.8 billion), Shashi and Ravi Ruia ($4.5 billion), Subhash Chandra ($4.2 billion) and Benu Gopal Bangur ($4.1 billion).

Forbes said the entrepreneurship is thriving globally and 1,191 members of the list are self-made billionaires, while just 230 inherited their wealth.

Another 405 inherited at least a portion but are still working to increase their fortunes.

The magazine said that the wealth has been calculated as per the share prices and exchange rates as on February 13 this year.

The richest 500 on the list collectively hold $4.7 billion of the total $7.05 trillion, thus translating into just over a quarter of billionaires accounting for two thirds of the wealth.

About its 29th annual Rich List, the magazine said the networth figures have taken into account the individuals' assets including stakes in public and private companies, real estate, yachts, art and cash and take into account estimates of debt and it tried to vet the numbers with all billionaires.

In some cases, it has listed siblings together if the ownership breakdown was not clear and this includes Shashi and Ravi Ruia from India.

The children are listed with their parents when one person is the founder and in control, while their fortunes are identified as "and family".

Forbes said it did not include royal family members or dictators who derive their fortunes "entirely as a result of their position of power".

Of a total 1,826 billionaires, 197 are women, up from 172 in 2014, but women still account for only a small percentage of the list at 11 per cent.

Christy Walton, who inherited a stake in retailer Wal-Mart, has retained the title of world's richest woman.

The biggest gainer in terms of wealth is Warren Buffett with an addition of over $14 billion to his wealth, taking his total to $72.7 billion. Larry Ellison, ranked 5th with networth of $54.3 billion, is another big winner.

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