Forbes: Lakshmi Mittal is third richest in the world
New York: According to Forbes magazine, Indian-born steel tycoon Lakshmi Mittal has become the third richest person in the world. Mittal advanced fifty-nine places from last year to number three in 2005, after quadrupling his net worth by $18.8 billion to $25 billion, the magazine said.

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

Mexican telecom magnate Carlos Slim Helu ahas made it to the fourth position, up from the seventeenth position in 2004, while Saudi investor Prince Al Waleed bin Talal al Saud is ranked at number five, while Ikea founder Ingvar Kamprad of Sweden comes in at number six from the thirteenth position last year.

Microsoft's Paul Allen, German supermarket company owner Karl Albrecht, Oracle's Lawrence Ellison and Wal-Mart Stores, S Robson Walton, round out the top 10 slots.

Software giant Wipro chairman Azim Premji stood at number 38, twenty places up from last year, with net worth of $9.3 billion. Aditya Birla group's, 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 a net worth of $3.3 billion. Last year, Mittal 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 is at 355, with a net worth of $1.9 billion from last year's 277 positions.
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