While we might still hold the tag of a poor nation when it comes to Per Capita Income, it is also a fact that modern India is developing and getting richer by every day. So it is no surprise that India is home to world’s fourth highest number of billionaires (101) according to latest rankings issued by Forbes.
Following is a list of top 10 Indian billionaires on the Forbes list.
1. Mukesh Ambani ($23.2 billion = ₹151.2 thousand crores)
Chairman and Managing Director of Reliance Industries Limited, Mukesh Ambani is a man who needs no introduction. The tycoon who grabbed millions of telecom customers through the uber-lucrative schemes of ‘Jio’ has grabbed the top spot in the ratings this year.
Global Rank- 33
2. Lakshmi Mittal ($16.4 billion)
Lakshmi Niwas Mittal, popularly known as ‘Steel King’, heads the world’s largest steel company, ArcelorMittal. His company registered a net profit of $1.8 billion in 2016, their first since the year 2011 which helped him retain the second position on the list.
Global Rank- 56
3. Azim Premji ($14.9 billion)
Azim Premji, the tech tycoon who heads Wipro Limited is sitting in the third spot on the richest Indians list. His firm recently acquired ‘Appirio’, a cloud computing firm for $500 million.
Global Rank- 72
4. Dilip Shanghvi ($13.7 billion)
Dilip Shanghvi, the founder and director of Sun Pharmaceutical is number 4 on the coveted list. His company is the most valuable pharma company in India with 2016 revenue of $4.1 billion.
Global Rank- 84
5. Shiv Nadar ($12.3 billion)
Founder and chairman of HCL and the Shiv Nadar Foundation, businessman Shiv Nadar has secured the fifth spot on the ranking.
Global Rank- 102
6. Kumar Birla ($9.5 billion)
Kumar Mangalam Birla, chairman of the Aditya Birla Group, is at number 6 in the rankings. His telecom firm, !dea recently announced a merger with Vodafone India to become India’s largest telecom company.
Global Rank- 133
7. Cyrus Poonawalla ($8.1 billion)
Chairman of the Poonawalla group, Cyrus Poonawalla has sealed the seventh spot in the ranking. His ‘Serum Institute of India’ is the world’s largest vaccine maker by volume.
Global Rank- 159
8. Uday Kotak ($8 billion)
Uday Kotak, the executive vice-chairman and managing director of ‘Kotak Mahindra Bank’ has seen his firm’s revenue grow up in recent years after the acquisition of ‘ING Vysya Bank’ in 2014. Kotak has secured the 8th position in the list.
Global Rank- 166
9. Sunil Mittal ($7.5 billion)
Telecom tycoon and chairman of Bharti enterprises, Sunil Mittal’s earnings have gone up and helped him seal the 9th position on the list. In recent times, Mittal’s Airtel has acquired Telenor and bought additional 4G spectrum to counter Ambani’s ‘Jio’ in the Indian market.
Global Rank- 182
10. Gautam Adani ($5.8 billion)
Sitting at number 10, Gautam Adani, founder and chairman of Adani Group has businesses ranging from ports to power generation. Currently, Adani is looking into an expansion in solar power with projects in Tamil Nadu, Gujarat and Rajasthan.
Global Rank- 250
Feeling poor yet? Don’t worry, you’re not alone.
Fact Source: Forbes