India’s Wealthiest More Than Twice As Rich As They Were In 2019: Forbes

Bhubaneswar:  The collective wealth of India’s 100 wealthiest tycoons has tripled in the past decade, and surpassed the trillion dollar milestone for the first time this year.

According to a report in Forbes, the Indian sharks have become twice as rich as they were in 2019. They added $316 billion, , marking a nearly 40% increase, in just the past 12 months. Over 80% of the richest Indians saw their wealth grow and 58 of them added $1 billion or more to their fortunes. The net worth of half a dozen, including the top five, surged past $10 billion each, as they collectively gained nearly $120 billion. The top 12 billionaires account for nearly half of the total wealth of the group, it added.

Among other factors, the report attributed the surge to investor optimism around the Indian economy after Prime Minister Narendra Modi secured a third term in June, which put the stock market on overdrive. The benchmark BSE Sensex soared 30% since fortunes were last measured a year ago, it added.

Here is the list of the top 10 wealthiest tycoons:

1. Mukesh Ambani: The chairman and managing director of Reliance Industries bagged the top spot among billionaires. His wealth has grown manifold from $27.5 billion to $119.5 billion. He’s the second-biggest gainer in dollar terms this year.
2. Gautam Adani: The infrastructure magnate is on the second spot. He along with his with brother Vinod added $48 billion to take the family’s net worth to $116 billion.
3. Savitri Jindal, the empress of O P Jindal Group, occupies the 3 place. She’s one of nine women on the list, up from eight a year ago.
4. Mahima Datla, head of privately-held vaccine producer Biological E, B Partha Saradhi Reddy, founder of Hetero Labs, Harish Ahuja and Surender Saluja, founder and chairman of Premier Energies occupy the fourth spot.
5. Dilip Shanghvi, founder of Sun Pharmaceutical Industries, occupies the fifth spot.
6. Irfan Razack and his siblings, founder of Bangalore-based developer Prestige Estates Projects.
7. Godrej family- brothers Adi and Nadir Godrej.
8. Jamshyd Godrej and Smita Crishna Godrej.
9. Nikhil Kamath and his brother Nithin, founder of Zerodha.
10. Bajaj family and the Burman have also been included in India’s 100 richest tycoons.