With a net worth of $88.7 billion, Reliance Chairman Mukesh Ambani has been named the richest Indian by Forbes in its 2020 list of top 100 richest Indians. The top 100 named in the list added $517.5 billion, which is 14% in the collective wealth when compared with last year.
“Top on the list was Mukesh Ambani, chairman of Reliance Industries. At number one for the thirteenth consecutive year, his net wealth stands at $88.7 billion. His company had a good year with $20 billion of investments in its mobile services business Jio Platforms. Facebook and Google, two of the world’s top technology companies were large investors as were a host of others–KKR, Silver Lake, Mubadala to name a few. The money also resulted in a rerating of the telecom sector with fellow tycoon Sunil Mittal moving up three slots to rank 11 with a net wealth of $10.2 billion,” Forbes noted.
Ambani’s RIL raised over $20 billion for Jio and saw big investments in Reliance Retail from Facebook, Google, Silver Lake among others.
Adani Group Chairman Gautam Adani has emerged as the second richest Indian for the second consecutive year with a net worth of $25.2 billion. Meanwhile, HCL Tech Chairman Shiv Nadar has jumped three spots to become the third richest with a net wealth of $20.4 billion.
Radhakishan Damani at $15.4 billion, Hinduja brothers at $12.8 billion, Cyrus Poonawalla at $11.5 billion, Pallonji Mistry at $11.4 billion, Uday Kotak at $11.3 billion, Godrej family at $11 billion and Lakshmi Mittal at $10.3 billion are among the top 10 richest Indians.
The list also saw new entrants such as Info Edge cofounder Sanjeev Bikhchandani and Zerodha Broking cofounders Nithin and Nikhil Kamath.
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