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With a net worth of ₹3.8-lakh crore, Reliance Industries Ltd Chairman Mukesh Ambani has topped the list of richest Indians for the eighth consecutive year, according to the IIFL Wealth Hurun India Rich List 2019.
“A record breaking 953 individuals have a minimum wealth of ₹1,000 crore — up by 15 per cent or 122 individuals compared to last year,” it said on Wednesday. It was 831 in 2018. The number of individuals in the list has grown by 181 per cent since Hurun India Rich List 2016.
“The combined wealth of top 25 in the list equates to 10 per cent of India’s GDP and that of 953 accounts for 27 per cent,” it said.
Second on the list is SP Hinduja and family with wealth worth ₹1.86-lakh crore, closely followed by technology mogul Azim Premji with a ₹1.17-lakh crore net worth. LN Mittal and family, Chairman and CEO of ArcelorMittal, is the fourth richest in the list with ₹1.07-lakh crore of wealth. Gautam Adani, Chairman of Adani Ports and SEZ was at the fifth place with a total wealth of ₹94,500 crore.
The 2019 list has entrants from 63 cities with Mumbai accounting for 246 individuals, said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India.
Due to market volatility, while the cumulative wealth for this year shows an increase of two per cent compared to last year, the average wealth shows a decline of 11 per cent. As many as 344 individuals or more than a third of this year’s list witnessed wealth reduction and another 112 could not meet the threshold of ₹1,000 crore.
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