Alibaba founder <a href="https://www.wionews.com/world/what-led-to-china-blocking-jack-mas-record-ipo-364631">Jack Ma</a> has been toppled from the title of China's richest man amid scrutiny by Chinese regulators.

Watch:

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According to Shanghai-based Hurun Global Rich List, the Ant Group founder has tumbled to fourth place behind Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and Pinduoduo's Collin Huang.

Shanshan entered the list for the first time with an $85 billion fortune. Zhong had reportedly made his money on the $1.1 billion initial public offering (IPO) in Hong Kong last year.

The Hurun report said Ma's ranking fell after "China's regulators reined in Ant Group and Alibaba on anti-trust issues". &nbsp;

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<a href="https://www.wionews.com/world/chinese-state-media-omits-jack-mas-name-from-list-of-entrepreneurial-leaders-360782">Jack Ma</a> was ranked the richest Chinese on the list last year with his family’s wealth of $45 billion with Pony Ma ranked second with a personal wealth of $44 billion.

More than 200 billionaires were created in China last year, according to the Hurun Global Rich List with the Communist country adding 490 new billionaires in the past five years compared with the 160 added in the US.

The report said Tesla's Elon Musk, Amazon's Jeff Bezos and China's e-commerce giant Colin Huang added over $50 billion in a single year.

The report claimed six of the world's top-10 cities with the highest concentration of billionaires are now in China with Beijing being the top city for the sixth consecutive year.

Alibaba founder Jack Ma has been toppled from the title of China's richest man amid scrutiny by Chinese regulators. Watch: According to Shanghai-based Hurun Global Rich List, the Ant Group founder has tumbled to fourth place behind Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and Pinduoduo's Collin Huang.

Alibaba founder Jack Ma has been toppled from the title of China's richest man amid scrutiny by Chinese regulators. Watch: According to Shanghai-based Hurun Global Rich List, the Ant Group founder has tumbled to fourth place behind Nongfu Spring's Zhong Shanshan, Tencent Holding's Pony Ma and Pinduoduo's Collin Huang. Shanshan entered the list for the first time with an $85 billion fortune. Zhong had reportedly made his money on the $1.1 billion initial public offering (IPO) in Hong Kong last year. The Hurun report said Ma's ranking fell after "China's regulators reined in Ant Group and Alibaba on anti-trust issues". Jack Ma was ranked the richest Chinese on the list last year with his family’s wealth of $45 billion with Pony Ma ranked second with a personal wealth of $44 billion. More than 200 billionaires were created in China last year, according to the Hurun Global Rich List with the Communist country adding 490 new billionaires in the past five years compared with the 160 added in the US. The report said Tesla's Elon Musk, Amazon's Jeff Bezos and China's e-commerce giant Colin Huang added over $50 billion in a single year. The report claimed six of the world's top-10 cities with the highest concentration of billionaires are now in China with Beijing being the top city for the sixth consecutive year.

Alibaba's Jack Ma no longer richest in China after tiff with regulators over anti-trust issues

Despite the slowing economy in India, India minted three billionaires every month in 2019 taking the tally to 138, Hurun Global Rich List 2020 report said.

With this, India jumped two spots to rank third after China and the US which were ranked at first and second spot with 799 and 626 billionaires, respectively.

Chairman of Reliance Industries Mukesh Ambani topped the Indian billionaires' list with a net worth of $67 billion.

The number of Indian billionaires jumps to 170 if Indian-origin billionaires outside the country are also counted.

The world has added 480 billionaires in 2019, more than one a day, while China added more than three a week. The list had total 2,817 individuals having a net worth of $1 billion or more across the globe.

There is no surprise that Mumbai is the home to more than a third of the richest individuals in the country with 50 of them living in the megapolis, making it the ninth richest city globally, followed by New Delhi with 30, Bengaluru with 17 and Ahmedabad with 12.

With $67 billion, Ambani is also the ninth richest in the world which is topped by Jeff Bezos of Amazon with $140 billion.

The second in the list is SP Hinduja family ($27 billion), Gautam Adani (a little over $17 billion), Shiv Nadar &amp; family (close to $17 billion), and Lakshmi Mittal with over $15 billion in net worth.

At the sixth lot is banker Uday Kotak with a net worth of around $15 billion, making him the richest self-made banker in the whole world.

At the seventh slot is Azim Premji with ($14 billion), followed by Cyrus Poonawalla of Serum Institute ($12 billion) and Cyrus Pallonji Mistry and his son Shapoor Pallonji with $11 billion each.

And Oyo founder Ritesh Agarwal, all of just 24 years, is the youngest Indian in the rich list with a net worth of $1.1 billion.

It can be noted that 2019 was a good year for the stock markets globally with the US bourses rallying 26 per cent and Indian and Chinese indices gaining 15 per cent and 14 per cent, respectively in the year.

The 50 billionaires of Mumbai control around $218 billion of wealth between them, followed by 30 in New Delhi holding $76 billion and 17 in Bengaluru are worth $42 billion, while the 12 in Ahmedabad are worth $36 billion and the seven in Hyderabad are worth $13 billion, according to Junaid.

(With inputs from PTI)

&nbsp;

Despite the slowing economy in India, India minted three billionaires every month in 2019 taking the tally to 138, Hurun Global Rich List 2020 report said. With this, India jumped two spots to rank third after China and the US which were ranked at first and second spot with 799 and 626 billionaires, respectively.

Despite the slowing economy in India, India minted three billionaires every month in 2019 taking the tally to 138, Hurun Global Rich List 2020 report said. With this, India jumped two spots to rank third after China and the US which were ranked at first and second spot with 799 and 626 billionaires, respectively. Chairman of Reliance Industries Mukesh Ambani topped the Indian billionaires' list with a net worth of $67 billion. The number of Indian billionaires jumps to 170 if Indian-origin billionaires outside the country are also counted. The world has added 480 billionaires in 2019, more than one a day, while China added more than three a week. The list had total 2,817 individuals having a net worth of $1 billion or more across the globe. There is no surprise that Mumbai is the home to more than a third of the richest individuals in the country with 50 of them living in the megapolis, making it the ninth richest city globally, followed by New Delhi with 30, Bengaluru with 17 and Ahmedabad with 12. With $67 billion, Ambani is also the ninth richest in the world which is topped by Jeff Bezos of Amazon with $140 billion. The second in the list is SP Hinduja family ($27 billion), Gautam Adani (a little over $17 billion), Shiv Nadar & family (close to $17 billion), and Lakshmi Mittal with over $15 billion in net worth. At the sixth lot is banker Uday Kotak with a net worth of around $15 billion, making him the richest self-made banker in the whole world. At the seventh slot is Azim Premji with ($14 billion), followed by Cyrus Poonawalla of Serum Institute ($12 billion) and Cyrus Pallonji Mistry and his son Shapoor Pallonji with $11 billion each. And Oyo founder Ritesh Agarwal, all of just 24 years, is the youngest Indian in the rich list with a net worth of $1.1 billion. It can be noted that 2019 was a good year for the stock markets globally with the US bourses rallying 26 per cent and Indian and Chinese indices gaining 15 per cent and 14 per cent, respectively in the year. The 50 billionaires of Mumbai control around $218 billion of wealth between them, followed by 30 in New Delhi holding $76 billion and 17 in Bengaluru are worth $42 billion, while the 12 in Ahmedabad are worth $36 billion and the seven in Hyderabad are worth $13 billion, according to Junaid. (With inputs from PTI)

India added 3 billionaires a month in 2019; highest after US, China: Report

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Alibaba's Jack Ma no longer richest in China after tiff with regulators over anti-trust issues

India added 3 billionaires a month in 2019; highest after US, China: Report