According to the latest Forbes rich list, China now has more billionaires than any country outside the US. India's billionaires, however, are richer. Eight made the Top 100 and two, Mukesh Ambani and Lakshmi Mittal, rank in the Top 5.
Manpreet Romana/AFP/Getty Images/File
Eight Indians made Forbes magazine’s latest list of the top 100 billionaires, and two – energy tycoon Mukesh Ambani and steel mogul Lakshmi Mittal – sit in the top 5. Mr. Ambani is now the fourth richest person in the world, and the richest person in the Asia-Pacific region.
Ten of Asia’s top 25 billionaires are Indian, while one is from China.
Although China has more billionaires overall than India (and every other country besides the United States, for the first time), Indian billionaires are richer. According to a local edition of Forbes last November, the wealthiest 100 Indians are collectively worth $276 billion, while their top 100 Chinese counterparts are worth $170 billion.
The three richest Indians – Ambani brothers Mukesh and Anil and Mr. Mittal – together had more wealth the top 24 Chinese billionaires combined.