Another BRIC has bumped Russia off the billionaire podium

Russia just lost its spot as the world’s third largest community of billionaires. It was knocked down to fourth place by another BRIC country: India.

That’s according to the latest “global rich list” from publisher Hurun Report, which ranks dollar billionaires around the world.

Ten Russians actually dropped out of the ranking this year, while India’s number jumped by 27 people up to 97 in total.

Their combined wealth is $US266 billion, and Mukesh Ambani, worth $US20 billion, holds his place as India’s richest person. (He also has one of the flashiest houses on the planet.)

India has become a hotspot for investment since the pro-business Narendra Modi was voted in as Prime Minister last May. Stocks have rallied ever since, helping to fill the pockets of Indian business owners and investors.

Meanwhile, weak oil prices, a plummeting currency, and sanctions from the West have hurt Russia’s wealthy.

Props to India, but the US and China still dominate. They’re home to 537 and 430 billionaires each, and together account for half the world’s total.

Here are the top 20 countries:

  1. USA: 537
  2. China: 430
  3. India: 97
  4. Russia: 93
  5. UK: 80
  6. Germany: 72
  7. Switzerland: 60
  8. Brazil: 56
  9. Chinese Taipei: 48
  10. France: 46
  11. Japan: 45
  12. Canada: 39
  13. South Korea: 33
  14. Turkey: 33
  15. Australia: 32
  16. Thailand: 29
  17. Italy: 28
  18. Singapore: 26
  19. Indonesia: 24
  20. Spain: 19

Check out Hurun’s full report here for more information on the world’s wealthiest, including rankings by city and industry, as well as China’s wealthiest billionaires broken down by star sign.

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