Top 5 pocket half of India’s billionaire wealth

Tags: News
India's top five billionaires collectively control $85.5 billion (about Rs 5,23,897 crore) in personal wealth, accounting for nearly half of the country's total billionaire wealth, a new study says.

According to the analysis by research firm Wealth-X, Reliance Industries chairman Mukesh Ambani remains the richest with an estimated net worth of $24.4 billion (about Rs 1,49,474 crore).

He is followed by steel tycoon Lakshmi Mittal, drugmaker Sun Pharma's Dilip Shanghvi, IT giant Wipro's Azim Premji and Tata Sons' shareholder Pallonji Shapoorji Mistry among the top five wealthiest individuals from India. The five together control $85.5 billion in personal wealth, accounting for 47.5 per cent of India's total billionaire wealth.

Not quite so rich are Shah Rukh Khan ($600 million) and Sachin Tendulkar ($160 million.

Observing that “entrepreneurialism is the key to attaining financial success in the world’s largest democracy”, the study further says that these five entrepreneurs have made their fortunes in sectors such as oil and gas, steel and pharmaceuticals.

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

Steel tycoon Lakshmi Mittal, chairman and CEO of Arcelor Mittal, takes second place on the list with a personal net worth of $17.2 billion. Mittal, 64, owns 38 per cent of ArcelorMittal and a 33 per cent stake in the Queens Park Rangers Football Club.

Sun Pharmacuetical's Dilip Sanghvi is the third wealthiest Indian on the list with an estimated net worth of $16.3 billion, followed by Wipro chairman Azim Premji ($14.9 billion) and Tata Sons shareholder Pallonji Shapoorji Mistry ($12.7 billion).

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

EDITORIAL OF THE DAY

  • Wealth inequality poses a bigger challenge for policy planners and economic governance

    Was garibi hatao call of Indira Gandhi ,made in the 1970s, a mere electioneering slogan?

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust:The mother of all battles

Gassed out after the interminable interplay of the Yadavs in ...

Rajgopal Nidamboor

Of life’s essentiality and synchrony

It is no big deal to think of psychology as ...

Anil Dharker

No women, no Cry

EDM, as you would know if you are young, (and ...