(FE)
Weakening of the Indian rupee and poor performance of stock market has resulted in the number of Indian billionaires declining by one-third in the new global rich list for 2019 complied by the China-based Hurun Report. It has been a difficult year for the world’s billionaires with total wealth decreasing by $950 billion, or 9%, to $9.6 trillion due to poor stock market performance and appreciating dollar.
The ‘Loong Palace Hurun Global Rich List 2019’, which lists the richest individuals across the globe having a net worth of $1 billion, reports that the number of individuals featured in the 2019 edition has decreased by 224 to 2,470 from 2,694 in 2018. The cumulative wealth of 2,470 individuals featured in the list stood at $9.5 trillion, amounting to 12% of global GDP. New entrants in the list stand at 201, while 430 of those featured in 2018 didn’t make it to the present edition.
