Ambanis are sixth richest in the world

LONDON: Members of the Walton family, owners of the Wal-Mart retail group, are the richest individuals in the world while India���s Mukesh and Anil Ambani have been jointly ranked sixth with a net worth of ��20.5 billion. According to the Sunday Times rich list, the Walton family members are the richest individuals in the world, with a collective fortune of ��52.3 billion.

The fortunes of the world���s wealthiest people have witnessed a massive wealth erosion, thanks to the economic downturn. As per the rich list, the 50 richest people in the world are now worth ��605.9 billion, a fall of ��117.5 billion from last year.

Lakshmi Mittal, who saw his wealth dwindling by ��16.9 billion in a year owing to the recession, has slipped to 21st position this year. In the 2008 list, Mittal was ranked as the sixth richest person in the world.

The same is true for the Ambani brothers, who topped the 2008 list and have slipped to sixth position this year.
Last year, the Ambani brothers, Mukesh and Anil, together were rated as the richest in the world at a combined worth of ��43 billion, ahead of America���s Walton family (��38.4 billion), and Microsoft chief Bill Gates (��29 billion).