The top 1 per cent of the wealthiest people in the world is worth US$42 trillion or twice as much as the bottom 99 per cent of the world.

The growing list of billionaires in India is an enticing prospect for executive jet makers seeking to recover from a slump in demand caused by the financial crisis. Prominent among exhibitors at the ongoing Aero India 2011 air show in Bangalore were manufacturers such as US-based Gulfstream and Brazil’s Embraer — both hoping to seduce […]

Indian billionaire Mukesh Ambani has hosted a lavish housewarming party to show off his just-completed new skyscraper residence. Some 80 of India’s rich and famous attended the party on Friday night at the 27-storey building, which dominates the Mumbai skyline. Indian novelist Shobhaa De called the building – reported to be the world’s priciest private […]

India’s richest man, and Forbes’s fourth richest man, Mukesh Ambani, has built the world’s most expensive house in Mumbai. It is estimated to be worth $1 billion. The 37,000-square meter home, which took seven years to build, is bigger than the Palace of Versailles, London’s Telegraph reported. It contains a health club with a gym […]

The world’s new richest man, Mexican Carlos Slim, and a fresh crop of billionaires in Asia helped lead a comeback for the wealthiest few on the planet in 2010, Forbes magazine said Wednesday. The publication’s annual rich list reflected a resurgence of wealth after the financial turmoil of 2009, with the top 10 wealthiest worth […]

India’s richest man took a 66 percent pay cut to “set a personal example of moderation” after India’s government called for austerity in salaries of executives Mukesh Ambani, the head of Reliance Industries, said he would cap his pay at 150m rupees ($3.3m) this year. He received 440m rupees in 2008. With a net worth […]