The country is facing one of its most dismal economic performances in recent decades, with low private investment and less than expected GDP growth. Amidst this downturn comes the list of some of the richest Indians by Forbes magazine whose wealth has nevertheless, augmented with staggering figures. Although, several factors can be attributed to this acceleration, it can be easily inferred that economic policies across the world have indeed become Darwinian, and as demonstrated by Oxfam International, the “Rich are getting Richer”.
Mukesh Ambani: The scion of Ambani empire retains his top position with an additional bounty of $15.3 billion defying all speculations associated with economic slowdown. His total net worth stands at $38 billion. Mukesh Ambani is the Chairman and Managing Director of India’s most valued brand. Reliance Industries Ltd. His diversified business ranges from telecommunications to petroleum refinery, polyester fabric to textiles. Reliance under him holds the largest organized retail chain, with investments in gas exploration, upstream oil, etc. The swelling up of his wealth is a consequence of the launch of Jio network which one of the world’s most expansive 4G broadband wireless network.
Azim Premji: He is one of the biggest tech magnates as well as philanthropist of India and the world. He is the Chairman of Wipro Limited, which is a IT, BPO, and R&D service organization. Wipro is the third largest outsourcer of India and has presence in 58 countries. Premji has earned the sobriquet ‘India’s Tech King”. His net worth is reported by Forbes as $19 billion. Wipro holds an innovation centre in the Silicon Valley and often collaborates with emerging start-ups.
Hinduja Brothers: They are namely Gopichand Hinduja, Prakash P Hinduja and Ashok P Hinduja. With a net estimated worth of $18.4 billion, they come third in the list of richest billionaires. Hinduja family owns and operates Ashok Leyland. Their business also runs into lubricants, banking and cable television. The brothers hold valuable real estates in London and retain the citizenship of UK. This international conglomerate has presence across 37 countries.
Lakshmi Mittal: He is the Chairman and CEO of ArcelorMittal, the world’s largest steelmaker. His net worth stands at $16.4 billion. He is a well-known philanthropist who lives in one of the most expensive residences of the planet. He has made millions in contribution to charity, established LNM Institute of Information Technology (LNMIIT) in Jaipur and funds the Mittal Champions Trust to support 10 Indian athletes with world-beating potential.
Pallonji Mistry: This Indian-Irish tycoon is the head of India’ largest engineering and construction giant, the Shapoorji Pallonji group which is 152 years old. This group also holds 18.4% stakes in the Tata Sons conglomerate. This family also runs India’s largest brand of water purifiers the Eureka Forbes. Pallonji Mistry with an estimated net worth of $16 billion is the man who built the Taj Mahal Hotels and Oberoi Hotels, and is nicknamed as the ‘Phantom of Bombay House’.
Godrej family: Again, one of the richest Asian families, their estimated worth as reported by Forbes magazine is $14.2 billion. Godrej is a 120-year old consumer goods company. Adi Godrej is the Chairman of Godrej group and his son and two daughters too are part of the multi-business enterprise.
Shiv Nadar: The founder of HCL enterprises and Shiv Nadar foundation has a net worth of $13.6 billion. HCL is India’s fourth largest software services provider. He is leading philanthropist who $662 million to his foundation that backs education related issues.
Kumar Birla: The name Birla is synonymous with wealth in India. He is the Chairman of the Aditya Birla group that operates in 36 countries, and his net worth is $12.6 billion. Their industrial reach ranges in aluminium, copper, cement, textiles, carbon black, insulators, natural resources, power, agribusiness, telecommunications, financial services, retail and trading.
Dilip Sanghvi: He is the founder and managing director of Sun Pharmaceuticals that has rose to become the world’s 5th largest generic medicine manufacturer. Although his fortune is $12.1 billion, it has lost recently owing to manufacturing controversies and lapses.
Gautam Adani: The Chairman and founder of Adani group, Gautam Adani controls the largest port of India, the Mundra port. His wealth of $11 billion is also generated from power generation and transmission, real estate and commodities. Adani family’s biggest asset is the Adani Ports & SEZ.
Article by Mausam.