Reliance’s Mukesh Ambani richest on Forbes India list; Adani triples wealth in 1 year, Kiran Mazumdar loses

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October 07, 2021 2:03 PM

Reliance Industries Ltd chairman Mukesh Ambani remained the richest Indian on Forbes list for the 14th straight year, continuing since 2008

Reliance, mukesh ambani, RIL, Gautam adani, forbes rich listMukesh Ambani added $4 billion to his wealth in the last one year, retaining the top position with a net worth of $92.7 billion

Reliance Industries Ltd chairman Mukesh Ambani remained the richest Indian on Forbes list for the 14th straight year, continuing since 2008. Mukesh Ambani added $4 billion to his wealth in the last one year, retaining the top position with a net worth of $92.7 billion, according to Forbes 100 richest Indians list, which was released on Thursday. The 100 richest Indians grew their combined wealth to $775 billion; they added $257 billion, a 50 per cent gain, over the 2020 listing.

Gautam Adani retained the second position, by nearly tripling his fortune to $74.8 billion from $25.2 billion in 2020, as shares of all his listed companies soared. It may be noted that in 2020, the gap between Mukesh Ambani and Gautam Adani’s wealth was $63.5 billion. This has now narrowed down to $17.9 billion. Gautam Adani added $49.5 billion to his wealth in 2021. According to Forbes, Gautam Adani is responsible for almost a fifth of the increase in the wealth of India’s 100 richest this year.

HCL Technologies’ Shiv Nadar followed on the third spot with a $31 billion wealth. Radhakrishna Damani, investor and founder of D’Mart retail chain, secured fourth position on the list, with a net worth of $29.4 billion. Damani has nearly doubled his wealth from $15.4 billion in 2020. Cyrus Poonawalla, the founder of Serum Institute of India, moved up to rank 5 this year. His total net worth grew to $19 billion in 2021 from $11.5 billion, a year ago.

The other top five on the list were ArcelorMittal’s Lakshmi Mittal, with a fortune of $18.8 billion; Savitri Jindal with a fortune of $18 billion; Uday Kotak with a net worth of $16.5 billion; and Shapoorji Pallonji’s Pallonji Mistry with a net worth of $16.4 billion. Kumar Mangalam Birla moved up to 10th rank from 14th last year. His net worth soared to $15.8 billion, $7.3 billion more than what it was last year.

According to Forbes, the six newcomers on this year’s list include Ashok Boob (rank 93; $2.3 billion) of Clean Science and Technology; Deepak Mehta (rank 97, $2.05 billion) of Deepak Nitrite, and Yogesh Kothari (rank 100, $1.94 billion) of Alkyl Amines Chemicals. The youngest billionaires on the list are Divya Gokulnath of Byju’s (rank 47, $4.05 billion), and Nikhil Kamath of Zerodha Broking (rank 86, $2.59 billion), both aged 35.

Billionaires who lost the most wealth this year compared to last year are Kiran Mazumdar Shaw, who saw her wealth decline $0.7 billion or 15.22% to $3.9 billion. Others include P.V. Ramprasad of Aurobindo Pharma (rank 90, $2.45 billion), Gupta Family of Lupin (rank 75, $2.82 billion), and Reddy Family of Dr. Reddy’s Laboratories (rank 69, $3.01 billion), according to Forbes. The public fortunes were calculated based on stock prices and exchange rates of 17 September 2021.

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