Russia just lost its spot as the world's third largest community of billionaires. It was knocked down to fourth place by another BRIC country: India.

That's according to the latest "global rich list" from publisher Hurun Report, which ranks dollar billionaires around the world.

Ten Russians dropped out of the ranking this year, while India's number jumped by 27 people up to 97 in total.

Their combined wealth is $266 billion, and Mukesh Ambani, worth $20 billion, holds his place as India's richest person. (He also has one of the flashiest houses on the planet.)

India has become a hotspot for investment since pro-business Narendra Modi was voted in as prime minister last May. Stocks have rallied and helped to line the pockets of Indian business owners and investors.

Meanwhile, weak oil prices, a plummeting currency, and sanctions from the West have hurt Russia's wealthy.

Props to India, but the US and China still dominate. They're home to 537 and 430 billionaires each, and together account for nearly half the world's total.

Here are the top 20 countries:

USA: 537 China: 430 India: 97 Russia: 93 UK: 80 Germany: 72 Switzerland: 60 Brazil: 56 Chinese Taipei: 48 France: 46 Japan: 45 Canada: 39 South Korea: 33 Turkey: 33 Australia: 32 Thailand: 29 Italy: 28 Singapore: 26 Indonesia: 24 Spain: 19

Check out Hurun's full report here for more information on the world's wealthiest, including rankings by city and industry, plus China's wealthiest billionaires broken down by star sign.