Mukesh Ambani remains richest Indian for 11th yr

Source: The Hitavada      Date: 05 Oct 2018 08:32:06



RELIANCE Industries’ Chairman Mukesh Ambani has emerged as the richest Indian for the 11th consecutive year with a net worth of USD 47.3 billion, according to ‘Forbes magazine’. As per the ‘Forbes India Rich List 2018’, Ambani is also the year’s biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.

“Despite a rout in the rupee that practically wiped out the Indian stock market's 14 per cent rise from a year ago, business tycoons on the 2018 Forbes India Rich List saw a modest gain in their combined wealth to USD 492 billion,” a Forbes India statement said, adding that among the nation’s 100 richest, 11 saw their wealth jump by USD 1 billion or more. Wipro Chairman Azim Premji has retained the second spot, adding USD 2 billion to his wealth at USD 21 billion; while ArcelorMittal Chairman and CEO Lakshmi Mittal moved a place ahead to the third slot with a net worth of USD 18.3 billion, increasing his wealth by USD 1.8 billion. Mittal is followed by the Hinduja brothers at fourth place with a net worth of USD 18 billion and Pallonji Mistry at fifth with USD 15.7 billion.

With a net worth of USD 14.6 billion, Shiv Nadar has bagged the sixth spot followed by Godrej family at the seventh place (USD 14 billion), Dilip Shanghvi at eighth position (USD 12.6 billion), Kumar Birla at ninth (USD 12.5 billion) and Gautam Adani at 10th slot (USD 11.9 billion).