Friday, March 11 2005 10:03 Hrs (IST) - World Time -

New York: Indian-born steel tycoon Lakshmi Mittal became the third richest person in the world, trailing only Microsoft chief Bill Gates and US investment guru Warren Buffett.

London-based Mittal boosted his fortune after quadrupling his net worth by $ 18.8 billion to $ 25 billion, Forbes Magazine yesterday (Mar 10, 2005) said. Mittal climbed 59 steps from last year to number three in 2005.

Microsoft chief Bill Gates led the list for the eleventh year in a row with a net worth of $ 46.5 billion followed by Warren Buffet, who had a net worth of $ 44 billion.

Mexican telecom magnate Carlos Slim Helu came in fourth, up from No 17 in 2004; Saudi Arabian investor Prince Alwaleed Bin Talal Alsaud was ranked No 5 and Ikea founder Ingvar Kamprad of Sweden rose to No 6 from No 13 last year.

Microsoft's Paul Allen, German supermarket company owner Karl Albrecht, Oracle's Lawrence Ellison - returning to the top 10 after slipping to No 12 last year - and Wal-Mart Stores Inc's S Robson Walton rounded out the top 10 slots.

Software giant Wipro chairman Azim Premji stood at number 38, 20 places up from last year, with net worth of $ 9.3 billion; Chairman of commodities conglomerate Aditya Birla group Kumar Birla slipped two places from last year to 149 with net worth of $ 3.7 billion.

Telecom entrepreneur Sunil Mittal improved his position to 164 with net worth of $ 3.3 billion. Last year, Sunil was ranked at 186 while construction baron Pallonji Mistry moved up 61 places to 170 with net worth of $ 3.2 billion.

Godrej group chairman Adi Godrej was pushed to 355 with net worth of $ 1.9 billion from last year's 277 position.