Mukesh Ambani dominates the decade at top of Forbes India Rich List

Figuring in the top of the list for the 10th year in a row, Reliance Industries chief, Mukesh Ambani, has yet again emerged as the wealthiest Indian with a net worth of $38 billion. Amid signs of major economic slowdown in the country, the 2017 Forbes India Rich List shows that the combined wealth of the 100 richest tycoons in India grew by 26 %, despite economic hiccups.

“Ambani added USD 15.3 billion to his net worth this year, making him the biggest dollar gainer on the list and one of Asia’s top five richest. Improved refining margins and his telecom unit Reliance Jio’s thundering success in notching up 130 million subscribers since its 2016 launch boosted shares of his Reliance Industries,” said Forbes.

In another major gain this year was Wipro’s Anil Ambani, who moved up two places to figure in the second spot with a net worth of $19 billion, while previous year’s second richest Dilip Shanghvi of Sun Pharma slipped to the ninth spot with a net worth $12.1 billion.

The Forbes 20167 list depicts that the ‘economic experiments’ by the ruling Narendra Modi government have barely affected India’s tycoons. And Among all, Mukesh Ambani was gained the most as he managed add $15.3 billion (67%) to his previous year’s wealth. Ambani has also emerged as one of the top five richest men in Asia.

Mukesh Ambani’s brother Anil Ambani was however ranked 45th this year with a net worth $3.15 billion. Depicting a steady fall in the list of richest, Ambani was ranked 32nd ($3,4 billion) last year and 29th in 2015.

Though the recent change in policy reforms resulted in a broader economic slowdown for the country, according to Forbes the billionaires evidently remain unaffected.

“Despite India’s economic hiccups, tycoons on the 2017 Forbes India Rich List saw their wealth soar as their combined fortunes rose 26 per cent to USD 479 billion (over Rs31 trillion. India’s turbo-charged economy sputtered in the quarter ended in June as it grew at a three-year low of 5.7 per cent, due to the aftershocks of last November’s demonetisation and uncertainties over the rollout of a nation-wide Goods and Services Tax. Despite this, the stock market scaled new heights and boosted the fortunes of the nation’s 100 richest,” the premier magazine said.

Yoga Guru Ramdev’s close associate Acharya Balkrishna of Patanjali Ayurveda has taken a major leap to reach to the 19 spot this year with a net worth of $ 6.55 billion, from its last years 48th place.

Here is the Forbes list of this year’s top 10 richest Indian:

  • Mukesh Ambani:
    Net worth- $38 billion
  • Azim Premji:
    Net Worth- $19 billion
  • Hinduja brothers:
    Net Worth- $18.4 billion
  • Lakshmi Mittal:

Net Worth- $16.5 billion

  • Pallonji Mistry:
    Net Worth-16 billion
  • Godrej family:
    Net Worth- 14.2 billion
  • Shiv Nadar:
    Net Worth- 13.6 billion
  • Kumar Birla:
    Net Worth- 12.6 billion
  • Dilip Shanghvi:
    Net Worth- 12.1 billion
  • Gautam Adani:
    Net Worth- 11 billion

 

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