A rebounding stock market that gained two-thirds in the past year and an economy growing at 6% have boosted the net worth of India’s richest people, according to the latest Forbes’ India Rich List.
The combined net worth of
Last year, there were only 27 billionaires on the India Rich List. This year, the number has almost doubled to 52—two short of what
Trailing behind him are Lakshmi Mittal with a net worth of USD 30 billion, up 46% from USD 20.5 billion, and Mukesh’s estranged brother, Anil, whose net worth of USD 17.5 billion, 40%, higher than before, put him in the third place.
Indrajit Gupta, Editor of Forbes
Though the top ten positions remain largely unchanged, there are some shifts in fortunes across the list. Sunil Mittal has moved down from Number 4 to Number 8 and Azim Premji has moved up to Number 4 position. The Ruia brothers with a net worth of USD 13.6 billion have made it to number 5 this year. Adi Godrej has moved out of the top 10 to the number 12 position. Savitri Jindal, Nonexecutive Chairwoman of OP Jindal Group, at a net worth of USD 12 billion this year has made it to number 7 on the list – she is one of only six women on the list.
The richest newcomers are two brothers from Torrent Power -- Sudhir and Samir Mehta, ranked 23 at USD 2.02 billion.
Another notable mention is Nandan Nilekani who has stepped down from Infosys board and is now a part of government. He ranks 43 with a net worth of USD 1.25 billion.
The Forbes India cover story highlights how 2009 has been a turnaround year for the rich in
The three richest Indians are worth USD 79.5 billion. It takes 24 Chinese billionaires to be worth USD 80 billion.
The top 10 richest in
1. Mukesh Ambani USD 32 billion
2. Lakshmi Mittal USD 30 billion
3. Anil Ambani USD 17.5 billion
4. Azim Premji USD 14.9 billion
5. Shashi and Ravi Ruia USD 13.6 billion
6. KP Singh USD 13.5 billion
7. Savitri Jindal USD 12 billion
8. Sunil Mittal USD 8.2 billion
9. Kumar Birla USD 7.8 billion
10. Gautam Adani USD 6.4 billion
Methodology
Net worths are compiled using stock prices and exchange rates taken on October 16.
Privately held fortunes were valued at book value or by coupling estimates of revenues, profits or book value to prevailing ratios for similar public companies
To compile these rankings, reporters interviewed rich listers, employees, rivals, investors, fund managers, real estate agents and securities analysts. They also sifted through documents and databases to determine value and ownership of assets.
Indian citizenship was required to make it to the list.
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