2 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

 
 
 

39 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

 
Update
2

5 weeks ago

Nita Ambani joins RIL board

Jun 18 2014 6:23am CDT | Source: Business Standard

Chairperson of Reliance Foundation Nita Ambani Wednesday joined as a director on the Board of Reliance Industries L ...
Source: Business Standard   Full article at: Business Standard
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

China's yuan weakens
Beijing, July 30 (IANS) The value of the Chinese currency renminbi, or the yuan, weakened by 30 basis points to 6.1645 against the US dollar in its central parity Wednesday, authorities said.
 
 
US announces new sanctions on Russia over Ukraine
Washington, July 30 (IANS) Washington has imposed new sanctions on Russia's energy, arms and financial sectors over the Ukraine crisis, US President Barack Obama said Tuesday.
 
 
EU to impose more restrictive measures against Russia
Brussels, July 30 (IANS) The European Union (EU) has agreed a package of "significant" additional restrictive measures targeting sectoral cooperation and exchanges with Russia, the European Council said in a statement Tuesday.
 
 
Green spaces impact birth weight positively
London, July 29 (IANS) Where expecting mothers live can also have a bearing on the birth weight of their babies as researchers have found that mothers who live near green spaces deliver babies with significantly higher birth weights.
 
 
 

Latest from the Network

Chris Pratt unsure of playing a superhero
Chris Pratt never imagined himself playing a superhero. The 35-year-old actor stars as Peter Quill aka Star Lord in James Gunn's 'Guardians of the Galaxy' and he's revealed he never saw himself taking on that kind of...
Read more on Movie Balla
 
Smartphones to replace room keys at Hilton hotels
The idea moves around the ability to use a mobile device to check in and choose a specific room based on a hotel's digital floor plan. This will also help guests who may lose key cards or leave them in the room. "...
Read more on Celebrity Balla
 
Former Brazil coach Scolari takes charge of Gremio
Rio de Janeiro, July 30 (IANS) Luiz Felipe Scolari has been appointed manager of Brazilian top-flight club Gremio, just two weeks after he resigned as Brazil coach. The 65-year-old replaces Enderson Moreira, who...
Read more on Sport Balla
 
Chinese graduate kills masseur to pay off debt
Shanghai, July 30 (IANS) A debt-ridden college graduate in China has been detained for allegedly murdering a woman who offered massage service at her downtown home. The body of the victim surnamed Shen, from a Guangxi...
Read more on Politics Balla
 
Alicia Silverstone throw's vegan bash
Alicia Silverstone threw a vegan bash at a farm for her son Bear's third birthday. The 'Clueless' star, who is married to Christopher Jarecki, invited friends and family to Farm Sanctuary's Southern California Shelter...
Read more on Celebrity Balla
 
Ethan Hawke has an 'intense friendship' with wife
Ethan Hawke says he has an ''intense friendship'' with his wife, Ryan Hawke. The 43-year-old actor, who previously claimed he didn't believe in monogamy, insists he has a ''fantastic'' relationship with his spouse of...
Read more on Celebrity Balla
 
China's yuan weakens
Beijing, July 30 (IANS) The value of the Chinese currency renminbi, or the yuan, weakened by 30 basis points to 6.1645 against the US dollar in its central parity Wednesday, authorities said. In China's foreign...
Read more on Business Balla
 
Only 3,200 tigers left in the wild
Geneva, July 30 (IANS/EFE) Of the 100,000 tigers that once roamed in the wild a century ago, only 3,200 are left behind, the World Wide Fund (WWF) for Nature has revealed in a report. WWF has also offered to assist...
Read more on Politics Balla
 
US sees 'steady' progress in Iran n-talks
Washington, July 30 (IANS) The chief US negotiator in Iran nuclear talks Tuesday cited "significant and steady" progress over the past six months, but would not say whether the negotiations would be further extended...
Read more on Politics Balla
 
Bradley Cooper learning to flip burgers
London, July 30 (IANS) Actor Bradley Cooper, who will be seen as a chef in his next film, tried to learn how to flip burgers at a fast food chain in preparation for the role. The "Hangover" star decided to practice...
Read more on Celebrity Balla