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Forbes rich list: Mukesh Ambani is India's richest, but Dilip Shanghvi topples Azim Premji

Oct 29 2013, 15:42 IST
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While Mukesh Ambani's wealth was static, there are a total of 65 billionaires on the list, four more than last year, says Forbes rich list. While Mukesh Ambani's wealth was static, there are a total of 65 billionaires on the list, four more than last year, says Forbes rich list.
SummaryMukesh Ambani wealthiest; 100 richest saw collective wealth soar by modest 3 pct, shows Forbes rich list.

Jindal (USD 4.9 billion), Uday Kotak (USD 4.1 billion), Cyrus Poonawalla (USD 4 billion), Anand Burman (USD 3.7 billion), Kushal Pal Singh (USD 3.4 billion), Desh Bandhu Gupta (USD 3.2 billion) and Bajaj Family (USD 3.1 billion).

There are a total of 65 billionaires on the list, four more than last year. Some of these have made their fortunes in the Middle East, including Bahrain resident Ravi Pillai (richest newcomer with USD 1.7 billion) of Saudi construction group, Nasser S Al-Hajri Corp, and retail mogul M A Yusuff Ali (USD 1.6 billion) of Abu Dhabi-based Lulu Group.

As many as 15 new members have entered the top-100 list even as more than half of last year's rich listers, including Savitri Jindal whose wealth declined by USD 3.3 billion, have seen a fall in their fortunes.

The minimum net worth to make to the list has increased to USD 635 million from USD 460 million last year.

Forbes said that the list has been compiled using shareholder and financial information obtained from families, individuals, stock exchanges, analysts and regulators.

The ranking lists family fortunes, including those shared among extended families such as the Bajaj family, while the wealth figures were calculated based on stock prices and exchange rates as of October 18, 2013.

Privately-held companies were valued based on the valuation of similar publicly-traded companies.

India rich club: Business families' fortune worth $55 bn

As many as 20 business families have found a place on latest list of India's 100 richest, with a collective fortune of USD 55 billion.

While Forbes magazine's India Rich List remains dominated by individual business leaders, those making the mark along with their family members are also quite a few and also include three in the top 10 --Hinduja Brothers (6th place), Adi Godrej & family (8th position) and Sunil Mittal & family (10th).

Individually, Reliance Industries chief Mukesh Ambani continued to be India's wealthiest for sixth year in a row, with a networth of USD 21 billion while his younger sibling Anil Ambani bagged the 11th position with a fortune of USD 6.2 billion.

According to Forbes, Hinduja Brothers with a fortune of USD 9 billion scored the sixth rank, while Adi Godrej & family with a net worth of USD 8.3 billion are spotted at the eighth place. Sunil Mittal & family are ranked at 10th spot with a wealth of USD 6.6 billion.

Families in the top 20 list included Shashi & Ravi Ruia who

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