This year there are 41 Indian billionaires, and 60 from China.
The richest Indian is Mukesh Ambani in fourth place. Worth an estimated $29bn, he owns Reliance Industries, India's largest company. Its business interests range from oil and gas, to food and clothing.
China's wealthiest billionaire - excluding those based in the Hong Kong special administrative region - is Zong Qinghou.
In 103rd place on the list, Mr Zong is worth an estimated $7bn. He owns Hangzhou Wahaha, China's largest soft drinks company.
In a sign that the global economy could be improving, the average net worth of the world's billionaires is now $3.5bn, up $500m from last year.
Furthermore, 97 names made their debut while a record 164 returned to the list in 2010 - including Facebook founder Mark Zuckerberg ($4bn), who, aged 25, also regained the title of youngest billionaire.
The news was a far cry from 2009 when the financial crisis took its toll on the world's richest people, wiping 332 names off the list and an average of 23% off the wealth of the remaining billionaires.
Falling stock markets and collapsing commodity prices were blamed. Russia's ultra-rich appear to have recovered from last year's commodity-related losses, however, with 62 billionaires on the 2010 list, compared with 27 last year.
In Europe, shopping dominated the money list with six of the top 10 European billionaires making their money in retail and three more in consumer products.
Top of the list was Bernard Arnault (7) from LVMH, closely followed by Amancio Ortego of clothes retailer Zara (9), Karl Albrecht of cut-price supermarket Aldi (10), Igvar Kamprad and family (11) of Ikea and Stefan Persson (13) of discount retailer Hennes & Mauritz.
In the UK, the sixth Duke of Westminster Gerald Grosvenor (45) remained the wealthiest Briton with a net worth of $12bn as he improved his finances by $1bn despite the UK property slump.
Meanwhile, two Britons also made their debut - real estate investor Xiuli Hawken ($2.4bn) and hedge fund manager Alan Howard ($1.8bn).
On the up
The improving health of the global economy meant that 55 countries were represented in the Forbes list - with Pakistan (Mian Muhammad Mansha, number 937) and Finland (Antti Herlin, number 773) adding their first billionaires.
Strengthening stock markets and several large public offerings during the past year helped Asia close the gap with Europe.
A total of 234 Asian billionaires were featured in the 2010 list compared with 248 from Europe.
Russia's reversal of fortunes in the past 12 months also helped Moscow to inch up the league of cities that are home to the most billionaires after it slipped to third place last year.
In 2010, New York remained at the top of the pile with 60 ultra-rich residents, Moscow was second with 50 billionaires and London third with 32.
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