Mukesh Ambani, the Chairman of Reliance Industries, was declared as the richest man in India.
On the 7th of April, Forbes released the list of India’s top 10 richest billionaires. According to the list, Reliance Chairman Mukesh Ambani topped the list with a net worth of $ 84.5 billion, followed by Gautam Adani, the Chief Executive Officer (CEO) of Adani Groups.
The Forbes Richest Billionaires of India 2021, was based on a survey of economic status of businessmen in India in 2020. Businessmen like Mukesh Ambani, Gautam Adani, Shiv Nadar, the founder of HCL made huge profits amid the Novel Coronavirus or COVID-19 pandemic. In the past one year, Mukesh Ambani’s Reliance accomplished a fund raising feat and managed to raise $35 billion. With this, in 2021 Reliance Industries’ net debt stands at zero.
According to Forbes, “He (Mukesh Ambani) also sold a third of telecom unit Jio to marquee investors such as Facebook and Google and offloaded 10 percent of Reliance Retail to private equity firms such as KKR and General Atlantic, plus concluded a $7.3 billion rights issue of Reliance shares.”
After Mukesh Ambani, Gautam Adani also diversified the group’s business with 74 % shares in India’s airport management and operations business. He bought shares of India’s busiest Mumbai International Airport in September 2020. Adani Groups has a net worth of $50.5 billion. Gautam Adani’s Adani Green Energy also made good profit after selling it to French energy giant named Total, at $2.5 billion.
The third richest Indian is HCL founder Shiv Nadar with a net worth of $23.5 billion.
Meanwhile, Avenue Supermarts’ founder Radhakishan Damani ($16.5 billion) and Kotak Mahindra Bank Managing Director (MD) Uday Kotak ($15.9 billion) took the fourth and the fifth spot in the list.
The remaining 5 richest billionaires of India are:
Lakshmi Mittal, the founder of ArcelorMittal holds the 6th position in the top 10 richest billionaires with $ 14.9 billions.
Kumar Birla of Birla is the 7th name with a net worth of $12.8 billions.
Cyrus Poonawalla, the CEO of the Poonawalla Serum Institute of India (SII) is the 8th richest billionaire with $12.7 billions.
Dilip Shanghvi, who founded and runs listed generics drug maker Sun Pharmaceuticals, with a 68% jump in the company’s shares secured the 9th spot on the list. The net worth of Dilip Shanghvi’s Sun Pharmaceuticals stands at $10.9 .
Sunil Mittal and family of Bharti Airtel is the 10th richest billionaire of India with a net worth of $10.5.