Forbes rich list: Mukesh Ambani tops again, Dilip Shangvi makes his debut
Reliance Industries chairman, Mukesh Ambani has retained the richest Indian spot for a fifth consecutive year although net worth has declined for the third year in a row, according to Forbes Magazine.
Reliance Industries chairman, Mukesh Ambani has retained the richest Indian spot for a fifth consecutive year although his net worth has declined for the third year in a row, according to Forbes Magazine.
Mukesh Ambani beat steel giant Lakshmi Mittal and Wipro head Azim Premji to top the Forbeslist with a net worth of $29 billion. Though his fortune dropped by $ 1.6 billion in the past year, Reliance Industries remains India's most valuable company in terms of market cap.
Lakshmi Mittal has attained the second spot with $16 billion, down $3.2 billion since last year. His company ArcelorMittal, the world's largest steelmaker, was under pressure due to rising costs and slumping demand in Europe.
The third spot goes to Wipro's Azim Premji with a net worth of $12.2 billion, lower by $800 million from a year ago, followed by Pallonji Mistry with a net worth of $9.8 billion.
Dilip Shanghvi, founder and managing director of Sun Pharmaceutical is the biggest gainer making an entry in the top 5 for the first time.
Adi Godrej, the Hinduja Brothers, Kumar Birla,Savitri Jindal and the Ruia brothers are others in the top 10.
India has a total of 61 billionaires with four more additions this year.