With a whopping net worth of $47.3 billion, Reliance Industries’ Chairman Mukesh Ambani has topped Forbes India’s 100 richest people list for the 11th consecutive year. Interestingly, Mukesh Ambani’s gain of $9.3 billion is also the highest in the year, amid the continuing success of his Reliance Jio broadband telco service. According to ‘Forbes India Rich List 2018’, Wipro Chairman Azim Premji has retained the second spot, with a net worth of $21 billion. He added $2 billion in the year.
ArcelorMittal Chairman and CEO Lakshmi Mittal came in at the third spot, up from 4th last year, with a net worth of $18.3 billion, increasing his wealth by $1.8 billion as compared to the previous year. The Hinduja family came in at the 4th spot, followed by Pallonji Mistry at the 5th spot, with a net worth of $18 billion, and $15.7 billion respectively.
Other industry tycoons and business magnates making the top 10 list are Shiv Nadar ($14.6 billion), at the 6th spot, Godrej family ($14 billion) ranking 7th, Dilip Shanghvi ($12.6 billion) grabbing the 8th place, Kumar Birla with a net worth of $12.5 billion ranked 9th on the list and Gautam Adani $11.9 billion, taking the 10th place.
“In a challenging year, which saw the rupee taking a tumble, the country’s 100 richest collectively managed to hold their own. Moreover, new billionaires continue to be minted, which indicates that India’s entrepreneurial energy is upbeat as ever,” Naazneen Karmali, India Editor of Forbes Asia said.
Interestingly, Kiran Mazumdar Shaw has emerged as the biggest percentage gainer of the year, even as her net worth soared 66.7% to $3.6 billion. Kiran Mazumdar Shaw had also topped the recent Barclays Hurun India Rich List 2018 as the wealthiest woman billionaire with a net worth of Rs 22,700 crore.
“Despite a rout in the rupee that practically wiped out the Indian stock market’s 14% rise from a year ago, tycoons on the 2018 Forbes India Rich List saw a modest gain in their combined wealth to $492 billion,” a Forbes India statement said. Interestingly, among the nation’s 100 richest, 11 saw their wealth jump by $1 billion or more.