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With $21 b, Mukesh Ambani tops Forbes list of India's richest once again

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Mukesh Ambani has retained his title as India’s wealthiest for the sixth year in a row, according to Forbes' annual list of India's 100 richest.
Mukesh Ambani has retained his title as India’s wealthiest for the sixth year in a row, according to Forbes' annual list of India's 100 richest.

With a networth of $21 billion, Mukesh Ambani has retained his title as India’s wealthiest for the sixth year in a row, while the country’s 100 richest persons saw their collective wealth grow by a modest 3 per cent in a year.

NRI steel tycoon Lakshmi Mittal ($16 billion) also continues to hold the second position, while Sun Pharma’s Dilip Shanghvi has jumped to third place with a 50 per cent surge in his wealth to $13.9 billion, pushing IT czar Azim Premji to fourth place ($13.8 billion).

According to the US-based business magazine Forbes’ annual list of India’s 100 richest, released today, their total wealth grew by a modest 3 per cent from a year ago to $259 billion.

“Growth in wealth was lacklustre due to India’s stumbling economy, which has been hit by inflation and a falling rupee,” Forbes said.

Amid the sluggishness, Reliance Industries chief Mukesh Ambani and ArcelorMittal’s Lakshmi Mittal saw no change in their respective networths, but pharmaceutical industry titan Shanghi managed to buck the trend with a surge of $4.7 billion in his wealth to $13.9 billion.

Premji’s wealth also rose by $1.6 billion, but he could not retain his third slot.

Pallonji Mistry, patriarch of construction giant Shapoorji Pallonji Group, which is the biggest shareholder in Tata Sons, has moved down one place to fifth rank with a networth of $12.5 billion. His younger son Cyrus Mistry last year succeeded Ratan Tata as new Tata group head.

NRI businessmen the Hinduja brothers have moved up to sixth place ($9 billion), from their ninth position last year.

Shiv Nadar ($8.6 billion) has moved into the top-ten at seventh place, while Sunil Mittal has also returned to this league at 10th place ($6.6 billion). On the other hand, Essar group’s Ruia brothers and Jindal group’s Savitri Jindal have moved out from the group.

(This article was published on October 29, 2013)
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