China, US, India Have the World's Most Billionaires

By R. Siva Kumar - 04 Feb '15 09:17AM

China, America and India are the top three dollar billionaires in the Hurun Global Rich List for 2015. Russia had the third largest number of billionaires last year, but has been replaced by India.

China's Hurun magazine came out with the list of 2,089 richest people in the world, and the annual rating, on Tuesday. China with its 537 and the US with 430 occupy the top two slots, while India, with its 97 super-wealthy people, overtook Russia with its 93.

Last year, there were ten more Russians, but the wealth of 60 percent of Russian billionaires has fallen due to its "stagnating economy, devalued ruble and plummeting global oil prices". The top Russians include Vladimir Yevtushenkov, the owner of Sistema, and Lukoil's President Vagit Alekperov. Their wealth fell by 77 percent and 73 percent respectively, according to rt.com.

Hence, while the number of global billionaires expanded by 222 to 2,089, their total wealth has come down by 1.5 percent to $6.7 trillion. The average age of billionaires is 64, just like the 2014 rich members'.

Due to China's stock market boom, 72 new faces have joined the list, mostly from hi-tech industries. The wealthy were recorded as belonging to real estate, manufacturing and technology industries. The total net worth of the Chinese billionaires is $1.2 trillion.

However, the co-founder of the Microsoft tech giant, Bill Gates, still remains the world's richest man, with a net worth of $85 billion, according to thehindubusinessline.com.

China's richest giant is Chinese solar energy tycoon, Li Hejun, who has taken the place of e-commerce giant Alibaba's CEO, Jack Ma. His fortune is $26 billion. Li is the founder and chairman of Hanergy Holding Group, whose fortunes went up three times from last year. His global ranking shot up by 108 notches to Number 28.

Jack Ma, Alibaba's founder, suffered a dump of $1.4 billion loss in just one day, after there was a record slide in revenues. This e-commerce company, the world's biggest, is on a face-off with China's powerful corporate regulator due to its sale of "fake goods".