Thinking about the billionaires' club, most people would think of business people from North America and Europe, but some developing nations are now seeing a rise in the number of wealthy people, including India.
According to India Express, India has the world's third-largest group of billionaires, with about 140 business people, at least 10 of whom are females.
A look at Asia’s richest companies pic.twitter.com/r1u4YLbUeN— Forbes India (@forbes_india) November 28, 2019
In this article, we will learn more about India's 10 richest people and the businesses that have helped them make such huge fortunes.
Not only is 64-year old Mukesh Ambani the richest tycoon in India at the moment, he is also the richest man in all of Asia. Ever since he topped Ali Baba's Jack Ma in 2018, Ambani has maintained his place as the continent's richest businessman.
Thanks to his Reliance Industries Ltd, a diversified group he founded and continues to run, Ambani's wealth continues to grow steadily that he is now approaching $100 billion.
Only last Friday, Mukesh Ambani's wealth added more than $3 billion, following his announcement of his clean-energy goals.
2. Gautam Adani
Chairing the Adani Group which he founded in 1988, Gautam Adani is India's second richest man with more than $78.6 billion.
The 59-years old businessman has been building a whole empire of companies focused on resources, logistics, energy, agriculture, defence and aerospace, and other fields.
3. Shiv Nadar
Heading both the Emeritus of HCL Technologies Limited and the Shiv Nadar Foundation, 76-years old Shiv Nadar is India's third wealthiest man.
Shiv Nadar's fortune is estimated to be around $28.7 billion and he is often dubbed as Magus (Old Persian for wizard), due to his massive success in the business world.
4. Radhakishan Damani
Recently ranked as the world's #98 wealthiest individual with about $18.4 billion, 67-years old Radhakishan Damani is the founder and DMart, the major Indian retail company that was founded in 2002.
Over the years, Radhakishan Damani has diversified his investments beyond his company, including many shares in cigarettes, paper, cement stocks, and others.
5. Hinduja brothers
The Four Hinduja brothers have an accumulated wealth approaching $15.5 billion. The brothers' businesses are a range of many fields, such as investments in automobiles, lubricants in addition to banking services and cable television.
6. Cyrus S. Poonawalla
India's 6th richest man is the owner of the world's largest vaccine manufacturer, Serum Institute of India, which is only one of the many companies under the umbrella of the Cyrus Poonawalla Group founded and chaired by Cyrus Poonawalla.
As of August 2021, 8-years old Cyrus Poonawalla's wealth is estimated to be around $11.5 billion.
7. Pallonji Mistry
Heading the Shapoorji Pallonji & Company Private Limited trading which was founded in 1865 by his parents, 92-year old Pallonji Mistry is the richest man in Ireland and the 7th richest man in India with a wealth nearing $28.0 billion.
His businesses range from construction, real estate, textiles, engineered goods, home appliances, to shipping, publications, power, and biotechnology.
8. Uday Kotak
The managing director of Kotak Mahindra Bank, Uday Kotak is India's 9th richest man with about $15 billion.
In 2003, the 62-years old banker was the first in Indian history to receive a banking license from the Reserve Bank of India.
9. Godrej family
Managing the conglomerate founded by their family in 1897, the $11 billion Godrej family business is mainly run by Adi Burjorji Godrej and caters to different sectors, including real estate, consumer products, industrial engineering, appliances, furniture, security, and agricultural products.
10. Lakshmi Mittal
If you google the world's largest steel magnet, then Lakshmi Mittal will definitely be the answer. The steel business he founded under the name ArcelorMittal has helped 71-years old Mittal make up to $19.4 billion.
Matiil is also the chairman of stainless steel manufacture Aperam.
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