Mukesh again tops list of richest Indians

According to the latest Forbes’ India Rich List, Mukesh Ambani is again at the helm. He has topped the Indian rich list for the third consecutive year with a net worth of $27 billion. India’s rising stock market and a booming economy that’s expanding by 8.5% have boosted the net worth of India’s richest people. The combined net worth of India’s 100 richest people is $300 billion, up from $276 billion last year.



This year, there are 69 billionaires on the India Rich List, 17 more than last year. With a net worth of $26.1 billion, steel king Lakshmi Mittal is at No 2. Moving up to third position this year is IT outsourcer Wipro’s Azim Premji. His wealth increased to $17.6 billion from $14.9 billion last year amid an improving outlook for the sector. Shashi and Ravi Ruia have also improved their ranking to No 4 spot with $15 billion. The IPO of their Essar Energy in May, which raised $1.85 billion, was the largest ever listing in London by an Indian company.



Naazneen Karmali, India Editor of Forbes Asia and Mumbai bureau manager of Forbes magazine, said: “As we had predicted, the huge correction in Indian wealth which occurred in 2008 is fast becoming a distant memory. This year’s list illustrates the vibrancy and resilience ofIndia’s economy. It signals a second wave of Indian capitalists accumulating fantastic fortunes especially in sectors such as pharmaceuticals and real estate.”



“The record number of billionaires on this year’s Forbes list of 100 Richest Indians is yet another clear signal that the centre of gravity will increasingly shift toIndia and China over the next decade. Frontline Indian entrepreneurs have once again displayed their ability to harness the unprecedented wealth creation opportunities that exist in this part of the world.” says Indrajit Gupta, Editor of ForbesIndia.

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