Forbes names Mukesh Ambani 'richest Indian' for 11th straight time
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.
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.
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.
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.