Life
The Biggest Losers
By
Anil Ambani is the biggest loser in this year’s Forbes list of the World’s Billionaires. Ambani lost $3.9 billion of his fortune as shares of Reliance Communications tanked to a third of their value one year ago.
Three other Indians were among the ten biggest billionaire losers: Mittal Steel’s Lakshmi Mittal lost $25.7 billion; DLF’s K.P. Singh lost $25 billion and Anil’s brother Mukesh Ambani lost $23.5 billion. The global meltdown has squeezed the world’s billionaires hard. According to Forbes, the number of billionaires fell from 1125 in 2008 in 793 in 2009 and lost $1.4 trillion of their wealth. The number of Indian billionaires halved from 55 in 2008 to just 24 this year as the Indian stock market shed almost half its value and the rupee depreciated almost 24% against the dollar. The Surviving Indian Billionaires
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