AKIPRESS.COM - Worldwide, 99 new billionaires were added to the Hurun Global Rich List 2016. India added 27 new billionaires with Mukesh Ambani, Chairman of Reliance Industries (RIL), emerging at the top with a personal wealth of $26 billion, according to Hurun Global Rich List 2016, reports The Hindu.

Cumulative Indian billionaires’ wealth stood at $308 billion, registering a 25 per cent growth over last year. Mr. Ambani, who is ranked 21st globally, was followed by Sun Pharma promoter, Dilip Shanghvi , with personal wealth of $18 billion.

India is home to 111 billionaires and most of them are from Mumbai, according to the report.

“With the launch of new central government schemes, Make in India push and so on, I see an immense potential for wealth creation in India,” said Anas Rahman Junaid, Managing Director, Chief Researcher, Hurun Report India. “I hope India's 2016 budget would simplify tax laws, reduce red tape resulting in an overall increase in transparency.” - India’s e-commerce leaders, Sachin Bansal and Binny Bansal of Flipkart, with wealth of $1.4 billion, were ranked amongst the 69 billionaires under the age of 40.