India

Forbes 100 Richest Indians list: 1st Mukesh Ambani, 2nd Dilip Shanghvi, Patanjali’s Balkrishna also enters

MUMBAI: Mukesh Ambani – the chairman of Reliance Industries, topped the Forbes list of richest Indians for the ninth consecutive year. Forbes said that Mukesh Ambani rolled out his most ambitious project – Reliance Jio Infocomm. This month, Mukesh Ambani increased his net worth to $22.7 billion from $18.9 billion a year earlier as shares of Reliance Industries gained 21%.

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Dilip Shanghvi retained the 2nd spot with a net worth of $16.9 billion on the 2016 list. The mogul behind Sun Pharmaceuticals saw a drop of $1.1 billion in his wealth.

The Forbes said that the combined net worth of 100 wealthiest people of India was $381 billion, up 10% from $345 billion in 2015. Entering the list requires a minimum net worth of $1.2 billion.

The Hinduja brothers of the Hinduja Group moved up to the 3rd spot with a net worth of 15.2 billion. The chairman of IT company Wipro – Azim Premji slipped to 4th position with net worth $15 billion.

Rounding up the top 10 were Pallonji Mistry of Shapoorji Pallonji Group ($13.9 billion), Lakshmi Mittal of ArcelorMittal ($12.5 billion), the Godrej family ($12.4 billion), Shiv Nadar of HCL Technologies ($11.4 billion), Kumar Mangalam Birla of the Aditya Birla Group ($8.8 billion) and Cyrus Poonawalla of Serum Institute of India ($8.6 billion). New entrants include Acharya Balkrishna at No. 48.

The primary stakeholder and managing director of Patanjali Ayurvedahas a net worth of $2.5 billion. Mumbai-born serial entrepreneurs Bhavin and Divyank Turakhia, who sold their ad tech firm Media.net for $900 million in August to a consortium of Chinese investors, made their debut at No. 95 with $1.3 billion.
A drop in the valuation of Flipkart hit Binny and Sachin Bansal, who fell off the list within a year of entering. Kiran Mazumdar – Shaw of Biocon ($1.83 billion) was among the eight who re-entered the list this year.

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