India has a record number of 200 billionaires in 2024, ranking third globally for the highest concentration of the ultra-rich, who continue to build on their wealth on the back of the country's buoyant stock market, according to the Forbes 2024 World Billionaires List.
In contrast, Asia’s third-largest economy had 169 billionaires last year.
The combined wealth of India's richest people is approaching $1 trillion dollars, with a record total of $954 billion, up 41 per cent from $675 billion last year, Forbes said.
Watch: Who is Bernard Arnault, the man who replaced Elon Musk as world’s richest?
“With shares of his Reliance Industries conglomerate booming, the net worth of Mukesh Ambani shot up to $116 billion, from $83 billion, making him the first Asian to break into the exclusive $100 billion club on the list,” Forbes said in its annual report, which used stock prices and exchange rates from March 8 to calculate the net worth of the world’s wealthiest.
Mr Ambani retained his position as the ninth-richest person globally and remained both India’s and Asia’s richest person.
Infrastructure and commodities tycoon Gautam Adani added $36.8 billion to his net worth to cement his position as India’s second-wealthiest person.
Although shares of Adani Group were battered last year after allegations of fraud by US-based short-seller Hindenburg Research, they rebounded strongly after it reduced debt and secured investors.
Mr Adani clawed his way back to become the 17th-richest person globally with a fortune of $84 billion – still well off the peak of his wealth of nearly $150 billion in September 2022, when he briefly overtook Amazon founder Jeff Bezos as the world's second-richest person.
The US continues to have the most billionaires in the world, with a record 813 billionaires worth a combined $5.7 trillion, Forbes said.
China, including Hong Kong, remains second on the list, with 473 billionaires worth $1.7 trillion, it added.
Weak consumer spending and a real estate bust helped wipe out about $300 billion in billionaire wealth in China, the report said.
The world has more billionaires than ever before. Currently, there are 2,781 billionaires worldwide – 141 more than last year and 26 more than the record set in 2021, according to Forbes.
Their combined net worth hit a record $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021.
Much of the gains come from the world's top 20 richest people, who have added a combined $700 billion in wealth since 2023, Forbes said.
Top 10 richest people globally
Bernard Arnault, chairman of French luxury group LVMH, is the world’s richest person with a net worth of $233 billion, Forbes said.
In contrast to the Forbes list, the Bloomberg Billionaires Index estimates Mr Arnault’s current net worth to be $228 billion.
Elon Musk, co-founder of Tesla and the owner of social media platform X, is ranked second on the Forbes list with a net worth of $195 billion.
Amazon founder Jeff Bezos remains in third place with a personal fortune of $194 billion, followed by Mark Zuckerberg, founder of Meta Platforms, in fourth place with $177 billion.
Larry Ellison, co-founder of computer technology company Oracle, is in fifth place with $141 billion.
Renowned investor Warren Buffett is the sixth-richest person in the world with a net worth of $133 billion, while Microsoft founder Bill Gates was in seventh place with $128 billion.
Steve Ballmer, former chief executive of Microsoft and owner of the Los Angeles Clippers basketball team, is the eighth-richest person in the world with a net worth of $121 billion, and Mr Ambani ranked ninth.
Rounding up the top 10 is Alphabet co-founder Larry Page with a personal fortune worth $114 billion, Forbes said.
Richest women
Women occupy a small but growing slice of the world’s exclusive billionaire club, with only 369, or 13.3 per cent, included on the list, up from 337 in 2023.
Combined, the world's wealthiest women are worth about $1.8 trillion, about $240 billion more than last year, according to Forbes.
Francoise Bettencourt Meyers, the granddaughter of French pharmacist and L’Oreal founder Eugene Schueller, is once again the world’s richest woman with a net worth of $99.5 billion.
Her fortune has jumped $19 billion in the past 12 months, the biggest gain of any woman on the list, but falling just short of her entering the $100 billion club.
Ms Meyers has topped the Forbes list for women for the fourth year running.
Nine of the 10 richest women inherited their fortunes, either from their fathers, husbands or, in one case, mother. MacKenzie Scott, the ex-wife of Mr Bezos, is the only one in the top 10 to receive her fortune through divorce.
Walmart heir Alice Walton, the only daughter of the company's founder, Sam Walton, ranked second on the Forbes list with a personal fortune of $72.3 billion.
Julia Koch, who inherited a 42 per cent stake in Koch Industries along with her three children when her husband, David, died in 2019, dropped one spot to be the world’s third-richest woman with a net worth of $64.3 billion.
Jacqueline Mars – who inherited an estimated one third of Mars Incorporated, the sweets and pet food conglomerate behind brands such as M&M’s – ranked fourth on the list and is the world’s fourth-wealthiest woman at $38.5 billion.
Ms Scott ranked fifth on the list with a net worth of $35.6 billion.
Richest celebrities
The man behind the Star Wars and Indiana Jones movie franchises, George Lucas, ranked as the world’s richest celebrity with a net worth of $5.5 billion.
The director's wealth is derived largely from his production company Lucasfilm, which he sold to Disney in 2012 for more than $4 billion in cash and stock.
Forbes ranked Oscar-winning director Steven Spielberg as the second-richest celebrity with a net worth of $4.8 billion.
Former basketball star Michael Jordan is ranked third with a personal fortune of $3.2 billion.
The richest woman and the fourth-wealthiest entertainer on the celebrity list this year is Oprah Winfrey with a net worth of $2.8 billion.
Rounding out the top five is music mogul Jay-Z, real name Shawn Corey Carter, with a personal fortune worth $2.5 billion, according to Forbes.
World's top 10 richest people in 2024
- Bernard Arnault: $233 billion
- Elon Musk: $195 billion
- Jeff Bezos: $194 billion
- Mark Zuckerberg: $177 billion
- Larry Ellison: $141 billion
- Warren Buffett: $133 billion
- Bill Gates: $128 billion
- Steve Ballmer: $121 billion
- Mukesh Ambani: $116 billion
- Larry Page: $114 billion
Source: Forbes
More on Quran memorisation:
if you go
The flights
Emirates have direct flights from Dubai to Glasgow from Dh3,115. Alternatively, if you want to see a bit of Edinburgh first, then you can fly there direct with Etihad from Abu Dhabi.
The hotel
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Located in the heart of Mackintosh's Glasgow, the Dakota Deluxe is perhaps the most refined hotel anywhere in the city. Doubles from Dh850
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Events and tours
There are various Mackintosh specific events throughout 2018 – for more details and to see a map of his surviving designs see glasgowmackintosh.com
For walking tours focussing on the Glasgow Style, see the website of the Glasgow School of Art.
More information
For ideas on planning a trip to Scotland, visit www.visitscotland.com
INDIA'S%20TOP%20INFLUENCERS
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BOSH!'s pantry essentials
Nutritional yeast
This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.
Seeds
"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."
Umami flavours
"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".
Onions and garlic
"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."
Your grain of choice
Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
The Lowdown
Us
Director: Jordan Peele
Starring: Lupita Nyong'o, Winston Duke, Shahadi Wright Joseqph, Evan Alex and Elisabeth Moss
Rating: 4/5
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
UAE tour of the Netherlands
UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed
Fixtures:
Monday, 1st 50-over match
Wednesday, 2nd 50-over match
Thursday, 3rd 50-over match
How Filipinos in the UAE invest
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
CONFIRMED%20LINE-UP
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Why%20all%20the%20lefties%3F
%3Cp%3ESix%20of%20the%20eight%20fast%20bowlers%20used%20in%20the%20ILT20%20match%20between%20Desert%20Vipers%20and%20MI%20Emirates%20were%20left-handed.%20So%2075%20per%20cent%20of%20those%20involved.%0D%3Cbr%3EAnd%20that%20despite%20the%20fact%2010-12%20per%20cent%20of%20the%20world%E2%80%99s%20population%20is%20said%20to%20be%20left-handed.%0D%3Cbr%3EIt%20is%20an%20extension%20of%20a%20trend%20which%20has%20seen%20left-arm%20pacers%20become%20highly%20valued%20%E2%80%93%20and%20over-represented%2C%20relative%20to%20other%20formats%20%E2%80%93%20in%20T20%20cricket.%0D%3Cbr%3EIt%20is%20all%20to%20do%20with%20the%20fact%20most%20batters%20are%20naturally%20attuned%20to%20the%20angles%20created%20by%20right-arm%20bowlers%2C%20given%20that%20is%20generally%20what%20they%20grow%20up%20facing%20more%20of.%0D%3Cbr%3EIn%20their%20book%2C%20%3Cem%3EHitting%20Against%20the%20Spin%3C%2Fem%3E%2C%20cricket%20data%20analysts%20Nathan%20Leamon%20and%20Ben%20Jones%20suggest%20the%20advantage%20for%20a%20left-arm%20pace%20bowler%20in%20T20%20is%20amplified%20because%20of%20the%20obligation%20on%20the%20batter%20to%20attack.%0D%3Cbr%3E%E2%80%9CThe%20more%20attacking%20the%20batsman%2C%20the%20more%20reliant%20they%20are%20on%20anticipation%2C%E2%80%9D%20they%20write.%0D%3Cbr%3E%E2%80%9CThis%20effectively%20increases%20the%20time%20pressure%20on%20the%20batsman%2C%20so%20increases%20the%20reliance%20on%20anticipation%2C%20and%20therefore%20increases%20the%20left-arm%20bowler%E2%80%99s%20advantage.%E2%80%9D%0D%3Cbr%3E%3C%2Fp%3E%0A
WITHIN%20SAND
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Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
GRAN%20TURISMO
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Neill%20Blomkamp%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20David%20Harbour%2C%20Orlando%20Bloom%2C%20Archie%20Madekwe%2C%20Darren%20Barnet%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
COMPANY%20PROFILE
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What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
UAE v United States, T20 International Series
Both matches at ICC Academy, Dubai. Admission is free.
1st match: Friday, 2pm
2nd match: Saturday, 2pm
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Rameez Shahzad, Amjad Gul, CP Rizwan, Mohammed Boota, Abdul Shakoor, Ahmed Raza, Imran Haider, Sultan Ahmed, Zahoor Khan, Amir Hayat
USA squad: Saurabh Netravalkar (captain), Jaskaran Malhotra, Elmore Hutchinson, Aaron Jones, Nosthush Kenjige, Ali Khan, Jannisar Khan, Xavier Marshall, Monank Patel, Timil Patel, Roy Silva, Jessy Singh, Steven Taylor, Hayden Walsh
The%20Last%20White%20Man
%3Cp%3EAuthor%3A%20Mohsin%20Hamid%C2%A0%3C%2Fp%3E%0A%3Cp%3E192%20pages%C2%A0%3C%2Fp%3E%0A%3Cp%3EPublished%20by%3A%20Hamish%20Hamilton%20(UK)%2C%20Riverhead%20Books%20(US)%3C%2Fp%3E%0A%3Cp%3ERelease%20date%3A%20out%20now%20in%20the%20US%2C%20August%2011%20(UK)%3C%2Fp%3E%0A
THE%20SPECS
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STAY%2C%20DAUGHTER
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The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps
Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
Royal wedding inspired menu
Ginger, citrus and orange blossom iced tea
Avocado ranch dip with crudites
Cucumber, smoked salmon and cream cheese mini club sandwiches
Elderflower and lemon syllabub meringue
PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
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