Forbes list: India's super-rich get richer
According to Forbes' latest compilation, the combined net worth of India's 100 richest people rose to $300 billion this year from $276 billion last year, driven by the country's booming economy and a rally in the stock market. The Forbes India Rich List says there are 69 billionaires this year, 17 more than last year.
The record number of billionaires on this year's Forbes list of Richest Indians is yet another clear signal that the centre of gravity will increasingly shift to India and China over the next decade.
Pot of wealth: Mukesh Ambani is the richest Indian in the world, with a net worth of $27 billion, says the Forbes India Rich List. The magazine has also predicted that Mukesh Ambani would be the world's richest man by 2014. 52-year-old Ambani has interests in a range of sectors from petrochemicals and textiles to retail. Recently his company has decided to enter into hotels, power, telecom and shale gas projects. In his words, RIL is ready for a "big surge forward" and will use its strong finances for "inorganic" growth and new ventures(Photo: AFP)
Rich at No 2: NRI steel tycoon Lakshmi Mittal is second on the list with wealth totaling $26.1 billion. Both Ambani and Mittal are also Asia's richest men, according to Forbes' list of Asia's 25 richest.(Photo: AFP)
Soap to software honcho: Wipro Chairman Azim Premji, with a net worth of $17.6 billion, is at number three. Azim Premji was recognised by Business Week as one of the Greatest Entrepreneurs of All Time for his vision and leadership that has been responsible for Wipro emerging as one of the world's fastest growing companies.(Photo: AFP)
Scaling new heights: The Ruia brothers of the Essar Group are ranked at fourth position with a net worth of $15 billion. The IPO of Essar Energy in May, which raised $1.85 billion, was the largest ever listing by an Indian company in London.
According to Forbes, the top four tycoons on the list are worth a combined US$86 billion, short of the $180 billion record they set three years ago, and well shy of the US$150 billion net worth of the four richest Americans.
Savitri Jindal is the chairperson of Jindal Steel. Net worth estimated at $14.4 billion. She is the wife of late OP Jindal. She took over the chairmanship of the company in 2005 after her husband died in a copter crash. Jindal Organization, set up in 1970 by the OP Jindal, has grown from an indigenous single-unit steel plant in Hisar, Haryana, to the present multi-billion, multi-locational and multiproduct steel conglomerate.
Unlocking new opportunities : Mukesh's younger brother Anil Ambani ranks sixth in the Forbes India Rich List with net worth totaling $13.3 billion. He is among those who has lost ground on the list, down from No. 3 last year. "Our Group is by far the youngest of all large business houses in India, but we already rank among the top 5 on every important financial and operating parameter," Anil Ambani had recently said in the AGM of Reliance Capital.(Photo: AFP)
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Gautam Adani is the chairman of Adani Group. Net worth estimated at $10.7 billion. The group's flagship company Adani Enterprises (formerly known as Adani Exports Ltd.), was established by Mr. Gautam S Adani in 1988 as a partnership firm with a seed capital of Rs 5 lakh.
Real estate king : KP Singh is eight in the Forbes India rich list with net worth of $9.2 billion. He is the chairman of DLF Ltd, India's largest real estate developer. The DLF Group was founded in 1946 by Raghuvendra Singh, the father-in-law of KP Singh.(Photo: AP)
Telecom czar:Sunil Mittal is ranked ninth with a net worth of $8.6 billion. Airtel's founder Sunil Mittal has redefined his organization by delivering quality service, and searching for new business opportunities.(Photo: AFP)
Young and innovative: Kumar Mangalam Birla chairman of the Aditya Birla group stood at the tenth position with a net worth of $8.5 billion. Forbes said frontline Indian entrepreneurs have once again displayed their ability to harness the unprecedented wealth creation opportunities that exist in this part of the world.(Photo: AFP)
Adi Godrej (right side) is chairman of Rs 13,000 crore Godrej Group. His net worth is $7.5 billion. The group has interests ranging from fast moving consumer goods (FMCG) to appliances, to industrial engineering. Riding high on booming Indian economy, the group has been undergoing a metamorphosis of sorts as it enters into real estate.
NRI billionaire Anil Agarwal who controls London-listed Vedanta Resources has moved aggressively to expand its business portfolio from metals and mining to oil and gas.Net Wealth: $5.5 billion.He has struck a deal to buy up to 60 per cent in Cairn Energy's Indian unit for an estimated $9.6 billion. However, his plans in Orissa have recently suffered a setback with India's environment ministry rejected Vedanta's proposal to mine bauxite.
Pallonji Mistry is a construction tycoon and his net worth is estimated at $6.9 billion. Mistry holds 18.5 per cent stake Tata Sons which is the holding company of the Tata conglomerate. He is also chairman of the Shapoorji Pallonji Group and has made his billions mainly through his engineering and construction flagship, the Shapoorji Pallonji Construction Co.
Dilip Shanghvi is founder of Sun Pharmaceuticals.Net worth: $5.2 billion. His company has recently won a three-year battle to gain control of Israeli generics maker Taro Pharma. The acquisition would boost Sun's US business which fell last year after the US Food & Drug Administration shut down its American unit citing manufacturing violations. Sun Pharmaceuticals Industries' consolidated net profit jumped 244.4 per cent to Rs 564.32 crore in first quarter of June 2010.
Shiv Nadar is chairman and CEO of HCL Technologies, a subsidiary of Hindustan Computers Limited (HCL), a firm he co-founded in August 1976. HCL Group is now among India's top five IT companies. Net Worth: 4.7 billion.
Billionaire Singh brothers are growing their healthcare and financial services empire through acquisitions. The brothers control financial services conglomerate Religare Enterprises Ltd and Fortis Healthcare.Net Wealth: $4.2 billion. Fortis, owned by them had agreed to sell its entire 25.37 per cent stake in Singapore's Parkway to rival Malaysia's Khazanah for an estimated about Rs. 3,800 crore, ending a nearly two-month long battle for control over Parkway.
Kalanidhi Maran is director and chairman of Sun TV Network in south India. Net Wealth: $4 billion. He is the son of former Union Minister of commerce Murasoli Maran and the brother of India's textile minister Dayanidhi Maran.
GM Rao is the founder chairman of GMR Group. Net worth estimated at $3.5 billion. GMR Group has interests in airports, energy, highways and urban infrastructure. Employing the Public Private Partnership model, the group has successfully implemented several infrastructure projects in India.
Uday Kotak, is the executive vice chairman & managing director of Kotak Mahindra Bank.Net worth estimated at $3.4 billion. Kotak Mahindra is one of India's leading financial organizations, offering a wide range of financial services, from commercial banking, stock broking, mutual funds, life insurance, to investment banking.
Dr. Anand C. Burman is the Chairman of Dabur India Ltd with particular interests in the areas of Research and Development in the Pharmaceutical Sciences as well as biotechnology.Net worth estimated at $3.2 billion.
Re: Forbes list: India's super-rich get richer
Indu Jain is the chairperson of Times Group. Net worth estimated at $3.1 billion. Times Group has a heritage of over 150 years and is one of India's leading media groups.
Rahul Bajaj is a prominent Indian businessman and chairman of the Bajaj Group, which ranks among the top business houses in India.Net worth estimated at $3 billion. Rajul Bajaj was appointed CEO of Bajaj Auto in 1968 and later took over as head of Bajaj Group of Companies. Bajaj Group's footprint stretches over a wide range of industries, including automobiles (two-wheelers and three-wheelers), insurance, and finance.
Subhash Chandra is the chairman of the Essel Group, which has interest in media, packaging, entertainment, technology-enabled services, infrastructure development and education.Net Worth: $2.9 billion.
Micky Jagtiani (sitting in centre) is chairman of Landmark Group. Net worth estimated at $2.8 billion. The Landmark Group, founded in 1973 with a single store in Bahrain, has grown into one of the largest retail conglomerates in the Middle East and is expanding rapidly in India. It currently operates over 900 stores. In addition to its retail sector, the group has also diversified into leisure, food, hotels and electronics.
Venugopal Dhoot is the owner of multi-billion dollar group Videocon which makes vast range of electronic goods. Net worth: $2.65 billion.Videocon Industries is active in many countries including India, Australia, the United States, China and Europe. It has a major presence in consumer electronics, telecommunications, oil exploration, glass manufacturing and semiconductors.