The asymmetrical stock market rally in India have witnessed wavering in the number of billionaires in India. Many Indians has lost their wealth during the COVID-19 pandemic. However, Mumbai-based businessman Mukesh Ambani still tops the list of Richest Indians. The head of oil-gas-telecom conglomerate Reliance Industries has remained the richest Indian for 13th year in a row. You would be surprised to know that he is $37 billion richer than country’s second richest person Radhakishan Damani, who is the head of Indian version of Wal-Mart. India which has now emerged as the most lucrative and attractive destination for the capital is producing millionaires and billionaires. The wealth of Indian billionaires has shrunk by 23% during the COVID-19 outbreak. It could be blamed on the crumbling world economy that has been affected by the pandemic. The Squander will let you know about the richest Indians on earth and their current net worth.Image Credit: The Economic Times/Inventiva/Times Now
Mukesh Ambani, who is Chairperson of Reliance Industries has recalled its title of being richest Indian. He has managed to be stand with a firm foot despite losing despite losing money. His telecom venture isn’t performing well and there is debt mounting the company which is impacting Mukesh Ambani’s net worth. Reliance is paying back the debt of Jio by selling assets of other companies. Moreover, the wealth of Mukesh Ambani has decreased by 28% and currently he is worth of $57 billion according to Forbes.
He is the only Indian billionaire that have increased his net worth in the Pandemic. Despite the falling market he has managed to increase his wealth. D-mart is daughter company of Avenue Supermarket, which is owned by Radhakishan. It is for the first time; he has been the second Indian. His 196 supermarkets franchises haven’t been affected by the pandemic. Currently, Radhakishan Damani net worth is approximately $20 billion.
The next who comes under the umbrella of richest Indians is Shiv Nadar. He is the pioneer of Information Technology in India. He is the person, who is behind HCL Technologies. In 1970s, he founded his company in a garage and now the he has employed 1,49,000 people in 45 countries. His success story is motivational and is also known as the biggest Indian Philanthropist. He has founded Shiv Nadar Foundation, which works for educational causes. Currently Shiv Nadar is worth of $16.1 billion.
Lakshmi Niwas Mittal needs no introduction; he is Indian steel magnate. Lakshmi is CEO of ArcelorMittal, which is the world’s largest steel making company. Lakshmi owns almost 38% shares in the company and also have shares in Queens Park Rangers F.C. He is amongst the richest Indians. Currently the net worth of Lakshmi Mittal is estimated to be around $9 Billion. Lakshmi was once second richest person in India. However, Shiv Nadar and Radhakishan Damani has crossed him.
Kumar Mangalam Birla is chairperson of Aditya Birla Group. He is also amongst the richest Indians. He is the owner of Vodafone, and Idea. He fighting against Jio in the competitive telecom market of India. The Aditya Birla group has recently donated $54.6 Million to the PM Cares to fight against the COVID-19. Kumar Birla is also known for his philanthropy activities. Currently, the net worth of Kumar Birla is estimated to be around $8.6 Billion.
It’s a short list of richest Indians and their net worth. India has become home to millionaires and billionaires. From last 13 years in a row, Mukesh Ambani tops the list. You wouldn’t believe but the pandemic has brushed away around cumulative $408 billion from world’s top 100 billionaires. Despite all that, there few richest Indians that have maintained their position to be in the billionaire club. Stay tuned The Squander for exploring the list of richest people.