Six Egyptians on Forbes list for 2018 wealthiest billionaires

  • Six Egyptians on Forbes list for 2018 wealthiest billionaires

Six Egyptians on Forbes list for 2018 wealthiest billionaires

Meanwhile, Anil Ambani, was ranked 887th on the list with a net worth of $2.7 billion. In 2017, he ranked 33rd with $23.2 billion.

Bezos and Gates are trailed by American investor Warren Buffet - with an estimated fortune of $84 billion - followed by Frenchman Bernard Arnault, the head of LVMH Moet Hennessy Louis Vuitton SE, with a net worth of $72 billion, climbing seven positions and Europe's richest person.

In 2017, there were 102 Indians on the list.

Thanks to a 59-percent rise in Amazon shares over the past 12 months, Bezos nearly doubled his fortune, taking it to $120 billion, way ahead of Gates's $90 billion - the biggest gap ever between the number one and two spots, Forbes said. Also of noteworthiness is the fact that nobody has risen above a valuation of $100 billion, with Jeff Bezos earning the first such title.

Amazon chief Jeff Bezos is now the world's richest person, having snatched the top spot from Microsoft founder Bill Gates who slips to second place, according to Forbes magazine's annual billionaires list. His fortunes rose by $39.2 billion over the past year, which Forbes said is the list's biggest one-year jump ever. Mr Gates has headed the list for 18 of the past 24 years.

Mukesh Ambani, Chairman of Reliance Industries, is still the richest Indian. Her $1.5 billion worth's connected to her fish supplier family.

In some cases siblings and couples are listed together if the ownership breakdown among them isn't clear, however they still must be worth on average a minimum of US$1 billion apiece to make the cut.

Next is the biotech entrepreneur Kiran Mazumdar-Shaw at 629 with $3.6 billion.

Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.

Sun Pharmaceuticals founder Dilip Shanghvi ranks next as the fifth riches Indian with $12.8 billion at the 115th global spot. As a result, there have been a constant increase in the number of billionaires that the country has been producing.