They say that money makes the world go around. While India’s sure got its fair share of people (over 1.3 billion on the last count), the South Asian tiger also has a pretty high concentration of billionaires–121 to be precise. In fact, India is home to the third largest number of billionaires in the world, after China and USA respectively. So, who are the richest people in India? Let’s take a look.
1. Mukesh Ambani
With a net worth of $47.3 billion, Ambani tops the list of the richest people in India. He also takes the 19th spot in the global billionaires’ listcompiled by Forbes for 2018. An Indian business tycoon, Ambani is the chairman, MD, and of course the largest shareholder of oil and gas giant Reliance Industries Limited, one of India’s most valuable companies and a Fortune 500 company to boot.
With a net worth of $47.3 billion, Ambani tops the list of the richest people in India. He also takes the 19th spot in the
He’s also partial to a little cricket, being the owner of Indian Premier League cricket club Mumbai Indians. Ambani’s initial wealth was handed down to him by his father, who was a self-made success starting out in textiles and spices. India’s richest man had no formal education, instead, receiving life skills from a personal tutor hired for him and his siblings. He learned about the world by taking field trips, riding on public transport, and working with his father.
Curious fact? This energy and petrochemicals magnate amassed a further $16.9 billion over the last 12 months. How? Well, it’s easier when half of your country’s decisionmakers are on your payroll. No finger pointing here, though.
2. Azim Premji
Premji’s net worth is estimated at $21 billion and he’s widely known as being India’s top tech magnate whose company Wipro is the third-largest outsourcer. Beyond being a tech tycoon and savvy investor, Premji is a socially responsible billionaire, setting up the Azim Premji Foundation in 2000 to provide elementary education to rural areas in the country.
Premji’s net worth is estimated at $21 billion and he’s widely known as being India’s top tech magnate whose company Wipro is the third-largest outsourcer. Beyond being a tech tycoon and savvy investor, Premji is a socially responsible billionaire, setting up the
Premizi is number 58 on the global billionaire’s list and has a Wipro center in Silicon Valley. He also just won a key 10-year contract worth $1.6 billion with Alight Solutions of Illinois. Any skeletons in his closet? Not really.
It seems that Premzi is actually on the front lines fighting against corruption in his country, frequently speaking out on the topic and even calling out the Indian government on it. Writing an open letter to the Indian government with fellow tech entrepreneurs from Mahindra and HDFC, he said:
“Possibly, the biggest issue corroding the fabric of our nation is corruption.”
3. Lakshmi Mittal
Lakshmi Mittal made his $18.3 billion net worth from the commodities industry, serving as CEO and chairman of the world’s biggest steelmaker, ArcelorMittal. Benefiting from the overall recovery in the steel industry, this heavy metal magnate is buying up flailing steel manufacturers around the globe, including Italy’s loss-making steel group Ilva for $2.1 billion in June last year.
Lakshmi Mittal made his $18.3 billion net worth from the commodities industry, serving as CEO and chairman of the world’s biggest steelmaker, ArcelorMittal. Benefiting from the overall recovery in the steel industry, this heavy metal magnate is buying up flailing steel manufacturers around the globe, including Italy’s loss-making steel group Ilva for $2.1 billion in June last year.
While Mittal makes the Forbes list for richest Indians, he’s actually based in the UK and frequently appears among Britain’s richest men. Mittal owns almost 40% of ArcelorMittal and also holds 11% of Queens Park Rangers football club.
Known for his luxurious tastes, Mittal imported marble from the same quarry used to build the Taj Mahal to decorate his UK home. He’s had his fair share of corruption charges as most self-respecting billionaires have, and his relationship with politicians and decisionmakers was thrust into the spotlight some years back.
4. The Hinduja Family
Taking the fourth spot on India’s richest people list is a family of four siblings, Srichand, Gopichand, Prakash, and Ashok. With a combined net worth of $18 billion, they control the multinational conglomerate the Hinduja Group.
Taking the fourth spot on India’s richest people list is a family of four siblings, Srichand, Gopichand, Prakash, and Ashok. With a combined net worth of $18 billion, they control the multinational conglomerate the Hinduja Group.
These siblings have a range of businesses in their command, from trucks and lubricants to cable television and even banking. They also own some of the most expensive real estate in London and live in the UK, Geneva, and Mumbai overseeing their interests.
The Hinduja brothers Srichand and Gopichand are credited with saving London’s Millennium Dome’s faith zone but were implicated in corruption charges at the same time in 2000 for their supposed long-running involvement in the Bofors arms scandal which would eventually lead to the Indian Prime Minister Rajiv Gandhi’s downfall. The charges were later dropped in 2002.
5. Pallonji Mistry
Pallonji Mistry has an estimated net worth of $15.7 billion, controlling the Shapoorji Pallonji Group, a construction and engineering behemoth located in Mumbai. Known for his reclusive tendencies, Mistry’s younger son Cyrus is the one hogging the headlines, entering into a distasteful scrape with the Tata Group after being ousted from his chair at Tata Sons in October 2016.
Pallonji Mistry has an estimated net worth of $15.7 billion, controlling the Shapoorji Pallonji Group, a construction and engineering behemoth located in Mumbai. Known for his reclusive tendencies, Mistry’s younger son Cyrus is the one hogging the headlines, entering into a distasteful scrape with the Tata Group after being ousted from his chair at Tata Sons in October 2016.
The Tata Group is one of the most respected and successful companies in India with a squeaky clean reputation and a staunch denier of corruption. So Cyrus’ claims that the company was involved in a corruption case with AirAsia is displeasing to all involved. Not least, Pallonji, whose family’s biggest asset happens to be an 18.4% stake in Tata Sons.
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