India’s billionaires continued their strong showing in the Forbes Richest List of 2010.
Mukesh Ambani sprinted up three places to become the fourth richest from the seventh richest in 2009. His wealth increased by a staggering 48.7% to become $29 billion.
Younger brother Anil Ambani had a poor showing with his ranking plummeting two places to rest at 36 in 2010 from 34 in 2009. Anil Ambani‘s net worth, however, zoomed up 35.6% to become $13.7 billion in 2010.
Tech tycoon Azim Premji had a very impressive showing. He sprinted 55 places to become the 28th richest man with a net worth of $17 billion in 2010. Gautam Adani also put up a spectacular show by climbing 230 places to become 167th richest. He ranked 397th in 2009. Adi Godrej and Dilip Shanghvi of Sun Pharma, who also put up a good show by moving up 35 and 32 spots respectively.
Some newbies who stormed into the list included Sudhir & Samir Mehta of Torrent Group who ranked 463rd and Pankaj Patel of Cadila Healthcare who stood at 655th with $1.5 billion. Shahid Balwa of DB Realty just scraped through at 937th with a net worth of $1 billion.
Thankfully, Rakesh Jhunjhunwala also managed to retain his spot in the list by coming in at 937. He was described as “Bullish investor, often referred to as India’s Warren Buffett. Son of an income-tax officer, he started dabbling in the stock market with $100 after qualifying as a chartered accountant. Now trades his own money through his Mumbai investment firm, Rare Enterprises, which draws its name from his first two initials and that of his wife Rekha. His portfolio recovered in the stock-market rally and he remains resolutely bullish on the Indian economy. Plans to sell his mutual fund joint venture with Shinsei Bank to Japan’s Daiwa. The walls of his office are lined with portraits of legendary investors including Buffett and George Soros. Enjoys cigars and whiskey, which he imbibes daily. ”
Hearteningly, the number of Asian billionaires increased to 234 from 130 a year earlier with China and India leading the way.
Here is the Forbes list of top 25 richest people in India.
Rank — Name — Net Worth (in $ bln)
4 Mukesh Ambani $29.0
5 Lakshmi Mittal $28.7
28 Azim Premji $17.0
36 Anil Ambani $13.7
40 Shashi & Ravi Ruia $13
44 Savitri Jindal $12.2
74 K P Singh $9.0
86 Kumar Birla $7.9
87 Sunil Mittal $7.8
113 Anil Agarwal $6.4
148 Adi Godrej &family $5.2
167 Gautam Adani $4.8
173 Dilip Shanghvi $4.6
201 Shiv Nadar $4.2
297 G M Rao $3.2
297 Malvinder & Shivinder Singh $3.2
316 Uday Kotak $3.0
342 Kalanithi Maran $2.9
354 Subhash Chandra $2.8
354 Micky Jagtiani $2.8
354 Indu Jain $2.8
463 Sudhir & Samir Mehta $2.1
488 Yusuf Hamid & family $2.0
488 Cyrus Poonawalla $2.0
488 Rajan Raheja $2.0.
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