Top Five Richest Indians have half of India's Billionaire Wealth

The top five (5) Indian billionaires led by Reliance Industries chairman Mr. Mukesh Ambani collectively control USD 85.5 billion (Nearly Rs. 5,23,897 Cr) in personal wealth, accounting for nearly half of the country's total billionaire wealth, a new study said.

According to the analysis by wealth research firm Wealth - X of India's richest individuals, Mr. Mukesh Ambani remains the richest man in India with an estimated net worth of USD 24.4 billion (nearly Rs. 1,49,474 crore).

Mr. Ambani is followed by steel tycoon Mr. Lakshmi Mittal, drugmaker Sun Pharma's Mr. Dilip Shanghvi, IT giant Wipro's Mr. Azim Premji and Tata Sons' shareholder Mr. Pallonji Shapoorji Mistry among the top 5 wealthiest individuals from India.

"The 5 billionaires collectively control USD 8,550 Cr billion in personal wealth, accounting for 47.5% of India's total billionaire wealth," Wealth - X said.

Observing that "entrepreneurialism is the key to attaining financial success in the world's largest democracy", the study further said that these five entrepreneurs have made their fortunes through their businesses in sectors like oil and gas, steel and pharmaceuticals.

In comparison, India's wealthiest actor, Bollywood star Mr. Shah Rukh Khan, is worth USD 60 Cr, while Indian cricket legend Mr. Sachin Tendulkar retired in November 2013 with a personal fortune of at least USD 16 Cr it added.

Through Reliance Industries group, Ambani owns the Mumbai Indians Indian Premier League (IPL) cricket team, reportedly the most valuable team at around USD 112 million, the report said.

Steel tycoon Mr. Lakshmi Mittal takes second place on the list with a personal net worth of USD 1720 Cr. Mr. Mittal is the chairman and CEO of Arcelor Mittal, the world's largest steel making company.

Mittal, (Age 64), owns 38% of Arcelor Mittal and a 33% stake in the Queens Park Rangers Football Club.

Sun Pharmaceutical's Mr. Dilip Sanghvi is the 3rd wealthiest Indian on the list with an estimated net worth of USD 1630 Cr, followed by Wipro chairman Azim Premji (USD 1490 Cr) and Tata Sons Shareholder Mr. Pallonji Shapoorji Mistry (USD 1270 Cr).

All 5 entrepreneurs have also established philanthropic foundations in support of causes ranging from education, health, environment, social welfare and community development, the Wealth - X  report said.

Share: