Three other who are placed in top 10 are Mukesh Ambani, Anil Ambani and KP Singh are fifth, sixth and eighth places respectively.
After 13 years at the top, Microsoft founder Bill Gates is no longer the richest man in the world. That honor now belongs to his friend and Microsoft co-founder Warren Buffett. Gates is placed in 3rd position now.
Lakshmi Mittal is Europe's richest resident with a personal fortune of $45 billion. While Asia's richest resident is Reliance Industries chief Mukesh Ambani with a fortune worth $43 billion.
Anil Ambani follows his brother with a fortune of $42 billion. World's richest real estate baron KP Singh is in eighth place with a worth of $30 billion.
Riding the surging price of Berkshire Hathaway stock, Buffett has seen his fortune swell to an estimated 62 billion dollars, up 10 billion dollars from a year ago.
Mexican telecom tycoon Carlos Slim Helu with an estimated net worth of 60 billion dollars is in second place.
Among Indians, Essar group's Shashi and Ravi Ruia at 43rd rank globally with a combined net worth of 15 billion dollars, Wipro's Azim Premji (60th with 12.7 billion dollars), Sunil Mittal and family (64th with 11.8 billion dollars) and Kumar Birla (76th with 10.2 billion dollars) have also made it into the list.