Taking the 86th spot, the Bansal duo, Sachin Bansal and Binny Bansal, co-founders of India’s largest e-commerce firm Flipkart, have debuted on the Forbes billionaire list.
Boasting a personal fortune of USD 1.3 billion, the business partners met while studying at Indian Institute of Technology, Delhi and later became colleagues at Amazon before launching their e-commerce venture in 2007.
According to Forbes, they are the first billionaire duo to be minted in India’s e-commerce boom.
Flipkart, which is reportedly preparing for an initial public offering (IPO), is valued at USD 15.2 billion.
The Bansals were two of 12 new faces on Forbes’ India Rich List this year. Amongst this the list named Dubai-based Sunil Vaswani of the Stallion Group, a conglomerate with business presence in the West Africa the wealthiest newcomer, entering the ranking in the 48th spot with a net worth of USD 2 billion.