360° Coverage : Mukesh Ambani remains India's richest person (Lead,...

1 Updates
Mukesh Ambani remains India's richest person (Lead, inserting word in para 2)
Photo Credit: , Getty Images

Mukesh Ambani remains India's richest person (Lead, inserting word in para 2)

Oct 29 2013, 6:30am CDT | by IANS

Washington, Oct 29 (IANS) Mukesh Ambani remains India's richest person with a wealth of $21 billion as India's 100 richest expanded their wealth by a modest three percent from a year ago to $259 billion, according to Forbes magazine.

Washington, Oct 29 — Mukesh Ambani remains India's richest person with a wealth of $21 billion as India's 100 richest expanded their wealth by a modest three percent from a year ago to $259 billion...

Filed under: news

YouTube Videos

 
 
 

46 weeks ago

Mukesh Ambani remains India's richest person (Lead, inserting word in para 2)

Oct 29 2013, 6:30am CDT | by IANS

Washington, Oct 29 (IANS) Mukesh Ambani remains India's richest person with a wealth of $21 billion as India's 100 richest expanded their wealth by a modest three percent from a year ago to $259 billion, according to Forbes magazine.

Washington, Oct 29 — Mukesh Ambani remains India's richest person with a wealth of $21 billion as India's 100 richest expanded their wealth by a modest three percent from a year ago to $259 billion, according to Forbes magazine.

The latest Forbes rich list released Tuesday says that though the wealth of the oil and gas tycoon behind Reliance Industries remains unchanged from a year ago, he remains bullish and plans to invest $25 billion in his businesses over the next three years.

Growth in wealth was lacklustre due to India's stumbling economy, which has been hit by inflation and a falling rupee, the US business magazine said.

Steel magnate Lakshmi Mittal is at No.2 with wealth of $16 billion, also unchanged from a year ago. His company, ArcelorMittal continues to face weak demand for steel amid a global supply glut.

Bucking the trend is pharmaceutical magnate, Dilip Shanghvi, founder of the country's most valuable drugmaker, Sun Pharmaceutical Industries, who moved into the No.3 spot for the first time, Forbes said.

This year's biggest dollar gainer with wealth of $13.9 billion, Shanghvi added $4.7 billion to his fortune, which accounted for half of the overall three percent gain.

Azim Premji is No.4 on the list with wealth of $13.8 billion, up $1.6 billion from a year ago.

He was followed by Pallonji Mistry, $12.5 billion at No.5; Hinduja brothers, $9 billion at No.6; Shiv Nadar, $8.6 billion at No.7; Adi Godrej, $8.3 billion at No.8; Kumar Mangalam Birla, $7.6 billion at No.; and Sunil Mittal, $6.6 billion at No.10.

There are 65 billionaires on the list, four more than last year. Some of those new billion-dollar fortunes were made not in India but in the Middle East, Forbes noted.

Bahrain resident Ravi Pillai, the richest newcomer on this year's list, made his $1.7 billion fortune in Saudi Arabia with his construction business, Nasser S Al-Hajri Corp; and retail mogul M.A. Yusuff Ali, created his $1.6 billion wealth with his Lulu Group in Abu Dhabi.

There are 15 newcomers, and many old names have slipped down the list or fallen off.

More than half of last year's rich listers who returned to the ranks saw their fortune fall, including Savitri Jindal who lost $3.3 billion. The minimum net worth to make the cut increased to $635 million from $460 million last year.

(Arun Kumar can be contacted at arun.k@ians.in)

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Beware! Gym days fuel alcohol consumption
New York, Sep 23 (IANS) Now, you may know why you drink more on days when you hit the gym or attend aerobic classes at the neighbourhood park - as a reward for sweating out!
 
 
A blood test to detect psychosis
New York, Sep 23 (IANS) Offering a ray of hope for people who are experiencing symptoms of psychosis, a blood test may help identify if they are at the risk of developing serious brain disorders later in life.
 
 
Strict parenting puts kids at low self-esteem risk
New York, Sep 23 (IANS) Punitive parenting techniques used by some parents may lead to the development of low self-esteem and school adjustment difficulties in kids, leaving them vulnerable to depression and problem behaviours, finds new research.
 
 
Windy conditions around infant star?
New York, Sep 23 (IANS) Astronomers have observed what may be the first-ever signs of windy weather around an infant analogue - called T Tauri - of our Sun.
 
 
 

Latest from the Network

Apple Sets New Records With iPhone 6 Release
The iPhone 6 was one of the most hotly anticipated products that the company has released in recent years, in part due to the fact that it has a larger screen than past options. This single point of contention convinced...
Read more on Apple Balla
 
Myanmar tightens security amid Al Qaeda threat
Yangon, Sep 23 (IANS) Myanmar authorities Tuesday tightened security in the Yangon region, especially around religious buildings, in the wake of a threat from the Al Qaeda terrorist group. "Patrolling has been...
Read more on Politics Balla
 
Windy conditions around infant star?
New York, Sep 23 (IANS) Astronomers have observed what may be the first-ever signs of windy weather around an infant analogue - called T Tauri - of our Sun. Some 4.5 billion years ago, the Sun was also an infant star...
Read more on Business Balla
 
Australia welcomes unity government deal in Afghanistan
Sydney, Sep 23 (IANS) Australia Tuesday welcomed the Afghanistan unity government agreement between Ashraf Ghani Ahmadzai and Abdullah Abdullah. The two candidates in Afghanistan's presidential election have finalised...
Read more on Politics Balla
 
Bono scared to Google his name
Bono is ''afraid'' of Googling himself. The U2 frontman hates looking himself up on the internet but in the wake of criticism of his group's new album 'Songs of Innocence' - which was given away free to Apple iTunes...
Read more on Celebrity Balla
 
Modi's action-packed US tour combines symbolism and substance
Washington, Sep 23 (IANS) Indian Prime Minister Narendra Modi embarks on a landmark action-packed US visit this week with all his engagements combining symbolism and substance to reflect India's priorities from...
Read more on Politics Balla
 
Windies women developing well, says Campbell
Kingstown (St. Vincent), Sep 23 (IANS/CMC) West Indies women's performance in the just concluded four-match One-Day International (ODI) series against New Zealand women, has come in for high praise from their head...
Read more on Sport Balla
 
Search begins to provide healthy diet for space dwellers
Washington, Sep 23 (IANS) Will astronauts be able to grow enough food on Mars to maintain a healthy diet? How about growing food on Earth under extreme conditions? These are the questions scientists are trying to...
Read more on Business Balla
 
Eddie Redmayne dislikes playing characters similar to himself
Eddie Redmayne finds it tough playing characters who are similar to his real-life self. The 32-year-old actor, who has appeared in films such as 'Les Miserables' and 'My Week with Marilyn', is less comfortable playing...
Read more on Movie Balla
 
Dumping BJP hasn't hurt Bihar: CM in London
London, Sep 23 (IANS/RAY) Bihar Chief Minister Jitan Ram Manjhi has claimed that his party JD-U's stand of dumping the BJP last year, in protest against the latter appointing Narendra Modi as its prime ministerial...
Read more on Politics Balla