The United States retained top slot in Hurun Global Rich List for 2015 with 537 billionaires followed by China with 430. India with its 97 super-wealthy edged out Russia with 93.

Bill Gates of Microsoft topped the list with a wealth of $85bn followed by Carlos Slim Helu ($83bn) and Warren Buffet ($76bn).

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The 2015 list ranked 2089 billionaires from 68 countries, up 222 from last year. Although the list expanded, the total wealth dropped by 1.5% to $6.7 trillion, still more than the GDP of Japan and South Korea combined.

According to the report, 649 saw their wealth increase and there were 341 new faces. 230 remained unchanged. 869 individuals saw their wealth decrease. While 95 dropped out of last year’s list.

The authors of the report opined that the Russian Rouble collapse, brought about by a stagnating Russian economy, sanctions due to Ukrainian conflict and cheaper oil price by the OPEC, has been the cause for 60% of Russian billionaires to see their wealth drop, led by Vladimir Yevtushenkov and Vagit Alekperov of Lukoil whose wealth fell by 77% and 73% respectively.

Rupert Hoogewerf, chairman and chief researcher of Hurun Report, said, "Tech has been leading the way again for new billionaires. It’s all eyes on the new economy.

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"’New Energy King’ Li Hejun becomes the twelfth Number One China has had in the past 16 years, underlying once again the dynamism of the Chinese economy. In that same period, Bill Gates has been the only Number One in the US."