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Mukesh Ambani tops Forbes' India rich list with $32 bn fortune

Last Updated: Thursday, November 19, 2009 - 16:25

Singapore: The head of Reliance Industries, Mukesh Ambani, is once again the wealthiest person in India. His net worth is put at 32 billion dollars, an increase of 54 percent from nearly 21 billion dollars last year, according to the latest Forbes' India Rich List.


Trailing behind him are Lakshmi Mittal with a net worth of 30 billion dollars, up 46 percent from 20.5 billion dollars, and Mukesh's estranged brother, Anil, whose net worth of 17.5 billion dollars, 40 percent, higher than before, put him in the third place.


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 Forbes' India.


The combined net worth of India's 100 richest people is 276 billion dollars, almost a quarter of the country's GDP.

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 India had at the peak of the stock market boom in 2007.


Naazneen Karmali, India Editor of Forbes Asia and Mumbai bureau manager for Forbes magazine, said:


"Happy days are definitely back again for India's richest. This year's list shows yet again that when conditions in the financial markets and the economy are right, India has the scale and resources to produce billionaires faster than most of the countries on earth."


Indrajit Gupta, Editor of Forbes India, said: "The substantial jump in net worth is clear evidence that entrepreneurial capitalism is alive and kicking in India. What's more, the growth in wealth creation has been broad-based. Entrepreneurs from a wide variety of sectors comprise 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 13.6 billion dollars have made it to number 5 this year.


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 13.6 billion dollars have made it to number 5 this year.


The richest newcomers are two brothers from Torrent Power-Sudhir and Samir Mehta, ranked 23 at 2.02 billion dollars.


The Forbes India cover story highlights how 2009 has been a turnaround year for the rich in India. The list is an indicator of how India's billionaires have done better than their counterparts in other parts of the world.


The three richest Indians are worth 79.5 billion dollars. It takes 24 Chinese billionaires to be worth 80 billion dollars.


The top 10 richest in India are:



1 - Mukesh Ambani 32 billion dollars



2 - Lakshmi Mittal 30 billion dollars



3 - Anil Ambani 17.5 billion dollars



4 - Azim Premji 14.9 billion dollars



5 - Shashi and Ravi Ruia 13.6 billion dollars



6 - KP Singh 13.5 billion dollars



7 - Savitri Jindal 12 billion dollars



8 - Sunil Mittal 8.2 billion dollars



9 - Kumar Birla 7.8 billion dollars



10 - Gautam Adani 6.4 billion dollars



11 - Anil Agarwal 6.3 billion dollars



12 - Adi Godrej 5.4 billion dollars



13 - GM Rao 4.3 billion dollars



14 - Dilip Shanghvi 4.1 billion dollars



15 - Shiv Nadar 3.7 billion dollars



16 - Uday Kotak 3.3 billion dollars



17 - Malvinder& Shivinder Singh 3 billion dollars



18 - Subhash Chandra 2.7 billion dollars



19 - Indu Jain 2.4 billion dollars



20 - Kalanithi Maran 2.3 billion dollars



21 - Anand Burman 2.25 billion dollars



22 - Brijmohan Lall Munjal 2.2 billion dollars



23 - Sudhir & Samir Mehta 2.02 billion dollars



24 - Cyrus Poonawalla 2 billion dollars



25 - Ramesh Chandra 1.95 billion dollars


Bureau Report

First Published: Thursday, November 19, 2009 - 16:25
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