Washington, Sept 25: Reliance Industries chairman Mukesh Ambani has lidded the Forbes magazine’s list of the highest one hundred richest tycoons in India for the eighth consecutive year with a internet value of $23.6 billion, up $2.6 billion from last year.
For the primary time, the highest one hundred richest tycoons in India are all billionaires, according to the most recent Forbes wealthy list.The combined internet value of India’s one hundred wealthiest is $346 billion, up quite a 3rd from $259 billion in 2013.
“In 2014, India’s outlook has rapt terribly quickly from gloom to boom. The new federal government’s mandate for modification has sparked high spirits within the securities market inflicting a seismal shift in Indian wealth this year,” aforesaid Naazneen Karmali, Bharat Editor of Forbes Asia.
Dilip Shanghvi, founding father of Sun Pharmaceutical Industries, India’s Most worthy drug maker, is that the new No. 2, overtaking steel baron Lakshmi Mittal, who slips to fifth place.Sun Pharmaceutical’s shares surged when it acquiredrival Ranbaxy Laboratories from Japan’s Daiichi Sankyo for $4 billion in April, Forbes aforesaid.
The 59-year previous Shanghvi saw his fortune rise by $4.1 billion to $18 billion. Moving up one notch to No. three is Azim Premji, whose internet wealth increased to $16.4 billion from $13.8 billion antecedently.
In July, his tech firm Wipro found out a $100 million venture capital fund to back startups led by his son Rishad.
The biggest dollar gainer is ports magnate Gautam Adani, who jumped eleven spots to No. eleven adding nearly $4.5 billion to his wealth that reached $7.1 billion on soaring shares of his companies.
Adani has been on a shopping for spree: he bought a port in eastern India from the Tata cluster for $900 million and in agreement to pay $1 billion for a power plant in southern India, Forbes noted.
The minimum quantity needed to form the list was $1 billion, up from $635 million in 2013.With a record minimum internet value this year, eleven from last year fell off, as well as tycoons Brij Bhushan Singal and Vijay Mallya.
The top ten richest in India are:
1) Mukesh Ambani; $23.6 billion
2)Dilip Shanghvi; $18 billion
3) Azim Premji; $16.4 billion
4) Pallonji Mistry; $15.9 billion
5) Lakshmi Mittal; $15.8 billion
6) Hinduja brothers; $13.3 billion
7) shiv Nadar; $12.5 billion
8) Godrej family; $11.6 billion
9) Kumar Birla; $9.2 billion
10) Sunil Mittal; $7.8 billion