The economy in India is mixed with both public and private sectors. The Service sector is growing in rapid pace and helped in setting up numerous private entrepreneurs in the country. The Forbes list of Top 10 richest people in India is based on an annual assessment of wealth and assets compiled and published by Forbes magazine in 2018
1. MUKESH AMBANI:
RIL Chairman Mukesh Ambani has emerged as the richest person in Indian for the 11th consecutive year with a net worth of $47.3 billion, according to Forbes magazine. Ambani is also the year’s biggest gainer, adding $9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
2. AZIM PREMJI:
According to the ‘Forbes India Rich List 2018‘, Wipro Chairman Azim Premji has retained the second spot with a net worth of $21 billion. Premji gave up studies at Stanford University to look after the family’s cooking oil business in 1966 when his father died and expanded into software.
3. LAKSHMI MITTAL:
Lakshmi Mittal serves as chairman and CEO of ArcelorMittal, the world’s biggest steelmaker. He separated from his siblings to start Mittal Steel then went on to merge the company with France’s Arcelor in 2006. Benefiting from the steel recovery, the company reported a surge in net profit to $4.6 billion in 2017 on revenue of $68.7 billion.
His Real Time net worth is $13.5B as of Feb 2019 and he had a net worth of $18.3B as of Oct 2018.
4. HINDUJA FAMILY
Four close-knit siblings, Srichand, Gopichand, Prakash and Ashok, control multinational conglomerate the Hinduja Group. Their group’s businesses range from trucks and lubricants to banking and cable television and this gives them a place as one of the Richest People in India.
The brothers own valuable real estate in London, including their home Carlton House Terrace and the historic Old War Office building in Whitehall.
Their net worth as of 2018 was around $18B and it is $16.8B as of Feb 2019.
5. PALLONJI MISTRY:
Reclusive tycoon Pallonji Mistry controls Mumbai-headquartered engineering and construction giant, 153-year-old Shapoorji Pallonji Group. The family’s biggest asset is an 18.4% stake in Tata Sons, holding outfit of the $100 billion (revenue) Tata Group, a conglomerate of 100 companies.
The S.P. Group, run by Mistry’s older son Shapoor, also owns Eureka Forbes, the country’s leading brand of water purifiers. Mistry’s younger son Cyrus Mistry is embroiled in a legal battle with the Tata Group after he was suddenly ousted as chairman of Tata Sons in October 2016.
The net worth of Pallonji Mistry is around $15.7B in 2018 and around $15B in Feb 2019.
6. SHIV NADAR:
Indian IT pioneer Shiv Nadar cofounded HCL in a garage in 1976 to make calculators and microprocessors. Today, he chairs HCL Technologies, a $8 billion (revenue) company that is India’s fourth-largest software services provider.
HCL Technologies, which employs 124,000 people worldwide, hires high school grads and trains them on the job. Shiva Nadar had the net worth of $14.6B as of 2018 and it is $14.5B as of Feb 2019 ad that makes him one of the richest people in India.
7. GODREJ FAMILY:
The Godrej family controls the $4.5 billion (revenue) Godrej Group, a 121-year-old consumer-goods giant. The group was established by lawyer Ardeshir Godrej, who gave up his profession to make locks in 1897.
Today the group is chaired by patriarch Adi Godrej, an MIT grad, who took charge as chairman in 2000. Key group companies include Godrej Consumer Products, chaired by Adi Godrej’s daughter Nisaba and Godrej Properties, run by his son Pirojsha.
The net worth of the Godrej Family was $14B in 2018.
8. DILIP SHANGHVI:
Dilip Shanghvi borrowed $200 from his father to start Sun Pharmaceutical Industries in 1983 to make psychiatric drugs. The company is the world’s fourth largest speciality generics maker and India’s most valuable pharma outfit with March 2018 revenues of $3.6 billion.
The company is the world’s fifth largest speciality generics maker and India’s most valuable pharma outfit with March 2018 revenues of $3.6 billion. In recent years, Shanghvi has personally invested in renewable energy and oil and gas.
His net worth as of 2018 was around $12.6B.
9. KUMAR BIRLA:
Commodities king Kumar Birla is the fourth generation head of the storied, $44.3 billion (revenue) Aditya Birla Group. Birla inherited the family empire at age 28 when his father Aditya Birla died in 1995.
In July 2018, his aluminium unit Novelis agreed to acquire Aleris, an aluminium producer in Ohio, for $2.6 billion. In August 2018, Birla completed the merger between his Idea Cellular and Vodafone India to form Vodafone Idea, India’s largest telecom firm.
And, Kumar Birla net worth as of 2018 was $12.5B and as on Feb 2019 was $11.1B. And, he is 9th position in the list of richest people in India
10. GAUTAM ADANI:
Adani Group‘s interests include power generation and transmission, real estate and commodities. Ports tycoon Gautam Adani controls Mundra Port, India’s largest, in his home state of Gujarat. Adani’s overseas assets include Australia’s Abbott Point port and the controversial Carmichael coal mine, billed as one of the world’s largest.
In August 2018, Adani completed the $2.6 billion acquisition of Anil Ambani owned Reliance Infrastructure‘s power business in Mumbai. In August 2018, the group won the distribution rights to supply piped cooking gas and compressed natural gas for automobiles in 21 cities.
His net worth was around $11.9B as of October 2018 and he is in 10th position of richest people in India list.