Forbes list of World Billionaires for 2011 released

According to the annual Forbes list of World Billionaires for 2011 released on 10 March 2011, steel tycoon Lakshmi Mittal overtook Mukesh Ambani to become the wealthiest Indian. Lakshmi Mittal’s net worth is $31.1 billion (Rs 1.4 lakh crore) and is ranked sixth richest in the world in a list in which market valuations of listed companies play a major role in the calculation of wealth held in many forms. Mukesh Ambani, with $27 billion that dipped by $2 billion ranked ninth in the world. Except Mittal, Kumar Birla and Adi Godrej, all other Indians in top-10 have seen a fall in their fortunes. According to the Forbe’s finding India with a total of 55 billionaires has the third largest pool of billionaires, after the US and China.

India's billionaires’ average net worth is - $ 4.5 billion. Eight Indians including Shahid Balwa and Vinod Goenka have dropped out of the Forbes list of World Billionaires for 2011. However a dozen Indians joined the billionaire list including energy entrepreneur Ajay Kalsi and Aloke Lohia, who runs a polyester business out of Thailand. India has seven billionaires in the top 100 richest people in the world. China has just one billionaire in the top 100 while Russia has 15 and Brazil has 3 billionaires in the list.

Globally, Carlos Slim Helu, the Mexican telecom baron stayed the richest, increasing his worth by $ 20.5 billion. Microsoft co-founder Bill Gates, once the world's wealthiest man, is currently the second richest man in the world with a net worth of $ 46 billion.
Brazil, Russia, India and China (BRIC) produced half of the world's 214 new billionaires.