Paytm’s Vijay Sharma steps in as youngest Indian billionaire, Mukesh richest
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Paytm founder Vijay Shekhar Sharma, 39, is the youngest Indian billionaire, while 92-year-old Samprada Singh, chairman emeritus of Alkem Laboratories, is the oldest, according to Forbes. Sharma, ranked 1,394th on the list with a fortune of $1.7 billion, is the only Indian billionaire in the under-40 league.

Meanwhile, Mukesh Ambani’s net worth has soared to $40.1 billion, making him the richest Indian for the 11th year in a row, while Amazon founder Jeff Bezos toppled Bill Gates as the world’s wealthiest person, said Forbes. According to Forbes’ 2018 ‘World’s Billionaires’ list, Reliance Industries chairman Mukesh Ambani’s wealth surged a whopping 72.84 per cent to $40.1 billion (Rs 2,60,622 crore) — highest among the 119 Indian billionaires on the list. Ambani is ranked 19th globally, up from 33rd position in 2017.

Sharma founded fast-rising mobile wallet Paytm in 2011. He has also created Paytm Mall, an e-commerce business and Paytm Payments Bank. “Sharma owns 16 per cent of Paytm, which is now valued at $9.4 billion,” Forbes said. Of the 2,208 billionaires in Forbes’ 2018 list, just 63 are under the age of 40 and more than half (34) are self-made entrepreneurs. In all, the 63 youngest billionaires in the world are worth a collective $265 billion, up from $208 billion last year. Ninety-two-year-old Samprada Singh is the oldest Indian billionaire. He was ranked 1,867th with a fortune of $1.2 billion. Singh founded the pharma firm Alkem Laboratories 45 years ago. Bezos topped the list with a net worth of $112 billion, becoming the only person to appear in the Forbes list with a 12-figure fortune. Gates is now the second richest person globally with a fortune of $90 billion.

This year’s list consists of 2,043 of the richest people in the world. The combined net worth of this elite group is a whopping $9.1 trillion, up 18 per cent since last year. Their average net worth is a record $4.1 billion.

Azim Premji is the second richest Indian and was ranked 58th on the overall list with a net worth of $18.8 billion, followed by Lakshmi Mittal (62nd, net worth of $18.5 billion), Shiv Nadar (98th, $14.6 billion) and Dilip Shanghvi (115th, $12.8 billion). The 10 richest Indians include Kumar Birla, ranked 127th overall with a fortune of $11.8 billion, Uday Kotak (143, $10.7 billion), Radhakishan Damani (151, $10 billion), Gautam Adani (154, $9.7 billion) and Cyrus Poonawalla (170, $9.1 billion). Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.

Sharma founded fast-rising mobile wallet Paytm in 2011. He has also created Paytm Mall, an e-commerce business and Paytm Payments Bank. “Sharma owns 16 per cent of Paytm, which is now valued at $9.4 billion,” Forbes said. Of the 2,208 billionaires in Forbes’ 2018 list, just 63 are under the age of 40 and more than half (34) are self-made entrepreneurs. In all, the 63 youngest billionaires in the world are worth a collective $265 billion, up from $208 billion last year.

Ninety-two-year-old Samprada Singh is the oldest Indian billionaire. He was ranked 1,867th with a fortune of $1.2 billion. Singh founded the pharma firm Alkem Laboratories 45 years ago.

Bezos topped the list with a net worth of $112 billion, becoming the only person to appear in the Forbes list with a 12-figure fortune. Gates is now the second richest person globally with a fortune of $90 billion.

This year’s list consists of 2,043 of the richest people in the world. The combined net worth of this elite group is a whopping $9.1 trillion, up 18 per cent since last year. Their average net worth is a record $4.1 billion.

Azim Premji is the second richest Indian and was ranked 58th on the overall list with a net worth of $18.8 billion, followed by Lakshmi Mittal (62nd, net worth of $18.5 billion), Shiv Nadar (98th, $14.6 billion) and Dilip Shanghvi (115th, $12.8 billion).

The 10 richest Indians include Kumar Birla, ranked 127th overall with a fortune of $11.8 billion, Uday Kotak (143, $10.7 billion), Radhakishan Damani (151, $10 billion), Gautam Adani (154, $9.7 billion) and Cyrus Poonawalla (170, $9.1 billion). Acharya Balkrishna, the co-founder of FMCG company Patanjali Ayurved, was ranked 274th on the list with a net worth of $6.3 billion.

Meanwhile, Anil Ambani, the younger sibling of Mukesh Ambani, was ranked 887th on the list with a net worth of $2.7 billion.

Diamond trader Nirav Modi, accused of pulling off the country’s biggest bank fraud, is no longer a part of India’s billionaires club. Nirav, who had featured in Forbes’ 2017 rich list with a fortune of $1.8 billion, could not make the cut in this year's rankings.

Other notable drop-offs include Papa John’s Pizza founder John Schnatter, Christoffel Wiese of South Africa and Saudi Arabia’s Prince Alwaleed Bin Talal Al Saud.

Donald Trump, who became the first billionaire president in US history in January 2017, was ranked 766th on the list, down from 544, with a fortune of $3.1 billion. Trump’s fortune fell $400 million since March 2017.

There were 259 newcomers, including the first ever cryptocurrency billionaires, while 121 dropped out due to falling fortunes or political headwinds, including 10 Saudi Arabians.

Meanwhile, eight Indian women have featured in this year’s Forbes list, which includes a total of 256 women -- an all time high. Savitri Jindal and family is the richest with a fortune of $8.8 billion. She is ranked 176th globally. Biocon chief Kiran Mazumdar-Shaw (3.6 billion) is the second richest Indian woman, ranked 629th. Other Indian women on the list include Smita Crishna-Godrej at 822nd with a net worth of $2.9 billion and Leena Tewari, who chairs the privately held USV India, at 1,020th rank with a fortune of $2.4 billion.