Lagatar24 Desk
New Delhi, Oct.7: Forbes India has released its list of India’s 100 Richest people. During the pandemic year, the wealth of billionaires on the list in India increased by 50%. The total wealth of those on the list has reached a new high of $775 billion, up $257 billion in the last year. The credit for this largely goes to India’s stock market, which has reached new highs in recent months. According to Forbes, more than 80% of those on the list saw their fortunes improve, with 61 of them gaining $1 billion or more.
With a net worth of $92.7 billion, Mukesh Ambani, chairman and managing director of Reliance Industries, is at the top of the list. Since 2008, Ambani has been ranked as India’s richest person. According to Morgan Stanley, “Reliance Industries Ltd wants to revamp its energy business with an overarching strategy to deliver decarbonisation solutions globally at a competitive price in a market worth potentially $5 trillion by 2030.”
With a net worth of $74.8 billion, Gautam Adani, the founder of the Adani Group, came in second.
Shiv Nadar, the founder of HCL Technologies, came in third in the list. Nadar’s net worth increased by $10.6 billion as a result of India’s IT sector. His estimated net worth is $31 billion.
The creator of DMart, Radhakishan Damani, remained in fourth place on the list, his net worth nearly doubling to $29.4 billion from $15.4 billion.
India’s vaccine mogul, Cyrus Poonawalla, moved into the top five with a net worth of $19 billion.
The top 10 richest in India are:
1) Mukesh Ambani; US$92.7 billion
2) Gautam Adani; $74.8 billion
3) Shiv Nadar; $31 billion
4) Radhakishan Damani; $29.4 billion
5) Cyrus Poonawalla; $19 billion
6) Lakshmi Mittal; $18.8 billion
7) Savitri Jindal; $18 billion
8) Uday Kotak; $16.5 billion
9) Pallonji Mistry; $16.4 billion
10) Kumar Birla; $15.8 billion
Naazneen Karmali, Asia wealth editor and India editor of Forbes Asia in this regard said, “This year’s list reflects India’s resilience and can-do spirit even as Covid-19 extracted a heavy toll on both lives and livelihoods. Hopes of a V-shaped recovery fueled a stock market rally that propelled the fortunes of India’s wealthiest to new heights. With the minimum net worth to make the ranks approaching $2 billion, the top 100 club is getting more exclusive.”
