Premier magazine Forbes has released the India Rich List for 2017, with Reliance Industries chief Mukesh Ambani topping it for the tenth consecutive year. “Ambani added USD 15.3 billion to his net worth this year, making him the biggest dollar gainer on the list and one of Asia’s top five richest,” said Forbes.
“Improved refining margins and his telecom unit Reliance Jio’s thundering success in notching up 130 million subscribers since its 2016 launch boosted shares of his Reliance Industries,” it added. Mukesh Ambani is followed by business tycoon Azim Premji with net worth of USD 19 billion. Third place has been taken by Hinduja brothers who added $3.2 billion to their net worth.
Dilip Shanghvi of Sun Pharma slipped from his earlier second place to the ninth ($12.1 billion). Forbes Asia’s India editor has said that country’s rich have had a good year despite economic slowdown.
“Despite India’s economic slowdown, the country’s 100 richest have collectively enjoyed a bumper year thanks to a buoyant stock market. While the Indian billionaire factory continued to churn out new names from diverse sectors, the price of entry rose to a record high. The top 100 club is getting more exclusive with each passing year,” Naazneen Karmali said.
The list includes names of newcomers like tycoon Nusli Wadia at No. 25, Paytm owner Vijay Shekhar Sharma at No. 99 and Yes Bank’s Rana Kapoor at No. 100. Acharya Balkrishna, CEO of yoga guru Ramdev’s Patanjali Ayurved, features at No. 19 with net worth of $6.55 billion.
Have a look at the entire list of richest Indians as released by Forbes magazine:
1) Mukesh Ambani; USD 38 billion
2) Azim Premji; USD 19 billion
3) Hinduja brothers; USD 18.4 billion
4) Lakshmi Mittal; USD 16.5 billion
5) Pallonji Mistry; USD 16 billion
6) Godrej family; USD 14.2 billion
7) Shiv Nadar; USD 13.6 billion
8) Kumar Birla; USD 12.6 billion
9) Dilip Shanghvi; USD 12.1 billion
10) Gautam Adani; USD 11 billion