Mukesh Ambani: India’s Richest Man For The Tenth Year

The success stories of Indian entrepreneurs continues to scale new heights. India’s economic growth slowed down this year due to Demonetization and the nationwide roll out of the GST. But, according to Forbes India’s 100 Rich list, the combined wealth of the nation’s 100 richest people reached a staggering $ 479 billion despite the slump in growth.

Several newcomers were added to this years list including O.P. Jindal group’s Chairperson Savitri Jindal and biotechnology pioneer Kiran Mazumdar-Shaw. However, one name has topped the list of India’s richest people a multiple number of times. The Chairman and Managing Director of Reliance Industries, Mr. Mukesh Ambani cemented his decade long hold on the number 1 spot by adding a staggering $ 15.3 billion to his net worth. His net worth swelled to $38 billion, making him one of Asia’s top five richest persons. According to Forbes, Ambani’s shares were boosted due to Reliance Jio’s unmatched success since it’s launch in 2016. At present, the telecom giant has close to 130 million registered customers.

Younger brother and chairman of the Reliance Group, Anil Ambani, was ranked much lower at 45th place with a net worth of $ 3.15 billion. Reliance, which was founded by business tycoon Dhirubhai Ambani, was divided between the two brothers after the demise of their father in 2002. Since then, Mukesh Ambani has run the oil and gas giant Reliance Industries while Anil Ambani runs his separate empire in telecom, financial services, media and infrastructure industries.

Azim Premji took up the second spot on the list, moving up two places from last year, with a net worth of $ 19 billion. The Hinduja family, which comprises of the four brothers Srichand, Gopichand, Prakash and Ashok Hinduja, take up the third position with a combined net worth of $ 18. 4 billion. The multinational conglomerate Hinduja Group’s business ranges from trucks and lubricants to banking and cable television.

This year, seven women joined India’s Richest list with Savitri Jindal taking up the highest position at the 16th spot with a net worth of $ 7.5 billion. The co founder of Yes Bank, Rana Kapoor along with Dinesh Nandwana of the egovernance services firm Vakrangee and the founder of the digital wallet Paytm, Vijay Shekhar Sharma were the newest entrants. 

Watch the success story of India’s richest man Mukesh Ambani here –