Mukesh Ambani ranks 9th in Forbes World's Billionaires List 2023, highest in Asia

Mumbai (Maharashtra) [India], April 4 : Reliance Industries Chairman and Managing Director Mukesh Amb has been ranked 9th in the Forbes' 37th annual World's Billionaires List 2023, with an estimated net worth of USD 83.4 billion.

He maintained his position as the wealthiest individual in Asia.

Mukesh Amb was ranked 10th in the prestigious list last year, with an estimated net worth of USD 90.7 billion.

In the latest list this year, Mukesh Amb is ranked higher than Steve Ballmer of Microsoft, Larry Page and Sergey Brin of Google, Mark Zuckerberg of Facebook and Michael Dell of Dell Technologies.

Gautam Ad remained India's second most wealthy person but slipped to the 24th rank globally following the recent rout in share prices of Ad Group compes.

His net worth was estimated at USD 47.2 billion. Shiv Nadar of HCL Technologies is the third among Indians on the list with a net worth of USD 25.6 billion and a global rank of 55.

While Forbes' global count of billionaires slipped from 2,668 last year to 2,640 in 2023, the tally in India improved from 166 in 2022 to 169 this year.

Forbes noted that falling stocks, wounded unicorns and rising interest rates translated into a down year for the world's wealthiest people. Altogether, the planet's billionaires are now worth USD 12.2 trillion, a drop of $500 billion from USD 12.7 trillion in March 2022.

According to Forbes, the United States still boasts the most billionaires, with 735 list members worth a collective USD 4.5 trillion. China (including Hong Kong and Macau) remains second, with 562 billionaires worth USD 2 trillion, followed by India, with 169 billionaires worth USD 675 billion.

To calculate net worth, Forbes used stock prices and exchange rates from March 10, 2023.