China and India’s billionaires were among the world’s fastest wealth creators on 2017 in terms of percentage changes in net worth.
Ma Huateng, of Tencent Holdings, nearly doubled his wealth to $41.2 billion in 2017, increasing his worth by $20.3 billion. Mukesh Ambani’s wealth grew by 77 per cent, making his year-end figure at $40.2 billion.
Ma Huateng, also known as Pony Ma, is a Chinese business magnate, investor, philanthropist, engineer, internet and technology entrepreneur. He is the founder, chairman and chief executive officer of Tencent, Asia’s most valuable company, one of the largest Internet and technology companies.
Tencent’s popular WeChat messaging app has more than 960 million users. In contrast to his outgoing rival at Alibaba.
In terms of actual increase in net worth, Mukesh Ambani comes at 6th among the top 500, with an increase of $17.5 billion. Ambani, who retains his number one spot as the world’s richest Indian for the tenth consecutive year, saw his wealth increase considerably from last year, making him the biggest dollar gainer on the list and one of Asia’s top five richest.
RIL’s share price has risen over the last year on the back of the company’s improved refining margins, and the telecom unit Reliance Jio’s massive success in notching up 130 million subscribers since its 2016 launch.
Jeff Bezos of Amazon leads the list of the richest people in the world with an increase of $35 billion in 2017 with a net worth of $ 100.4 billion. Warren Buffet is ranked as the third richest person in the world with a new worth of $85.8 billion. Mark Zukerberg of Facebook and Bernard Arnault of LVMH have added $ 24 billion each to their net wealth in 2017.
The Bloomberg Billionares Index, which calculates the daily rankings of the world’s richest 500 people, has risen by 23% in 2017, compared to the 20% increase in the world MSCI index.
Among the Indians, the billionaires who have made it to the list are – Lakshmi Mittal, the steel king and owner of ArcelorMittal has added $5 billion to his net worth. So have Azim Premji of Wipro and Gautam Adani of the Adani group.
The only addition to the list as a new entrant in the list of top 20 Indian billionare list was Radhakishan Damani of Avenue Supermarts, whose wealth increased by $4.8 billion in 2017 ( more than the world’s fourth –richest Amancio Ortega of Inditex) to $6.7 billion. This was mainly because of the stellar performance of his company on the markets.