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October 26, 2012

Mukesh Ambani Tops Forbes' Richest Indians List

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Reliance Industries chairman, Mukesh Ambani has retained the richest Indian spot for a fifth consecutive year although his net worth has declined for the third year in a row, according to Forbes Magazine. Mukesh Ambani beat steel giant Lakshmi Mittal and Wipro head Azim Premji to top the Forbes list with a net worth of $29 billion. Though his fortune dropped by $ 1.6 billion in the past year,  Reliance Industries remains India’s most valuable company in terms of market cap. Second Position occupied by  Lakshmi Narayan Mittal with $16 billion, followed by Azim Premji, Chairman of Wipro Limited, with $12.2 billion followed by Pallonji Mistry with a net worth of  $9.8 billion. Dilip Shanghvi,  founder and managing director of Sun Pharmaceutical  is the biggest gainer making an entry in the top 5 for the first time. Adi Godrej, the Hinduja Brothers,  Kumar Birla, Savitri Jindal and the Ruia brothers are others in the top 10.  Important point to note is, India has a total of 61 billionaires with four more additions this year.

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