New Delhi, March 09, 2018: The richest Indian Mukesh Ambani has moved 19 ranks in the latest Forbes business magazine that produces an annual list of billionaires worldwide.

The list released online on Tuesday revealed that India has 121 billionaires — 19 more than last year — making them the third largest group of the ultra-rich after those from the US and China.

Energy and petrochemicals magnate Mr Ambani is richer by $16.9 billion in 2018 with assets of $40.1 billion. He moved up to the 19th global rank on the list of 2,208 billionaires worldwide compiled by Forbes. In 2017, he ranked 33rd with $23.2 billion.