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Forbes India- Mukesh Ambani Tops 12th Time

Forbes India has announced the list of wealthiest Indians for the year 2018. Business tycoon Mukesh Ambani has yet again topped the richest list. Mukesh, the chairman and managing director of Reliance Industries Limited (RIL), has stood No.1 position in the list 12th time in the row. This is rarest feat by an individual to stood at Rank 1 for 12 straight years.

With USD 51.4 billion wealth, Mukesh Ambani is wealthiest Indian. Mukesh added USD 4.1 billion to his net worth as 3-year-old Jio turned out to be India's highest mobile carriers with 340 million.

Infrastructure baron Gautam Adani is the second wealthiest Indian. Gautam Adani, who ranked 8th in the previous year, stood at No.2 in the list. Gautam Adani's net worth for 2018 is estimated at USD 15.7 billion. Adani has started working on Australian coal mine as permissions came in June after 9-long-years wait. Besides it, he also forayed into new businesses from airports to data centers.

The Hinduja brothers stood next to Mukesh Ambani and Gautam Adani. Hinduja brothers are placed at No. 3 in the list with a net worth of USD 15.6 billion. Pallonji Mistry has ranked No. 4 with USD 15 billion. Banker Uday Kotak stood at No.5 in the list. A USD4 billion boost propelled him into the top five for the first time with a net worth of USD 14.8 billion. Shares of his Kotak Mahindra Bank rose 39 percent in the past year.

Tech tycoon Shiv Nadar, investor-entrepreneur Radhakishan Damani, the Godrej family, steel baron Lakshmi Mital and industrialist Kumar Birla are the other wealthy businessman on the list of the ten richest people in India.

Meanwhile, Wipro's Azim Premji saw a steep fall in the list.The billionaire philanthropist fell from No. 2 rank in previous year to No. 17 rank in this year list. However, it is due to his generous donation from earlier this year where Premji gave away around USD 7.5 billion worth of shares in Wipro to his philanthropic foundation. With this, Premji took his total charity commitment to around Rs 1.5 lakh crore.

In the list of 100 richest people in India, there are six new entrants. These include Byju Raveendran, the 38-year-old founder of edtech Byju's; Manohar Lal and Madhusudan Agarwal of Haldiram Snacks; and Rajesh Mehra, who owns the popular bathroom fittings brand Jaquar.




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