Forbes names Mukesh Ambani 'richest Indian' for 11th straight time
What's the story
Mukesh Ambani, the Chairman of Reliance Industries, has once again emerged as the richest Indian - for the 11th consecutive year - with a net worth of $47.3 billion, according to Forbes magazine. Not just the richest, Ambani is also the year's biggest gainer, adding $9.3 billion to his wealth amid the surging success of his Reliance Jio broadband telco service. Here's more.
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The other contenders on the Forbes list
As per the Forbes India Rich List 2018, Wipro Chairman Azim Premji is on the second spot, adding $2bn to his wealth of $21bn. Meanwhile, ArcelorMittal CEO Lakshmi Mittal has climbed to the third slot with a net worth of $18.3bn, increasing his wealth by $1.8bn, followed by the Hinduja brothers with a net worth of $18 billion and Pallonji Mistry with $15.7bn.
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Other business tycoons in the top 10
Other business tycoons making it to the top 10 on the list are Shiv Nadar with $14.6 billion, the Godrej family with $14 billion, Dilip Shanghvi with $12.6 billion, Kumar Birla with $12.5 billion, and Gautam Adani with a net worth of $11.9 billion.
Forbes speaks
The growth in India's overall riches shows India's economic advancements
"The growth in the overall wealth of India's richest in a challenging year is one indicator of the country's economic advancement. New faces on the list -five of them- are also an encouraging sign of the rise of domestic mega-firms, many with a presence in global-markets," Forbes India Editor Brian Carvalho said. This list was compiled using shareholding/financial information of the families and individuals.