RICH GET RICHER ON FORBES LIST
Bombay Dyeing Chairman N us li Wadi a is the wealthiest newcomer, with a net worth of $5.6 billion, at 25 th position on the Forbes rich est Indians list, which was topped by Reliance Industries chief Muke sh Am ban if or the 10 th straight year. Though there has been a significant rise in the number of billionaires, six made the cut in the top 100 club on the Forbes India Rich List 2017. Noted returnees to the list include veteran investor Rad ha ki sh an Dam a ni at 12 th place with a net worth of $9.3 billion.
Bombay Dyeing Chairman Nusli Wadia is the wealthiest newcomer, with a net worth of $5.6 billion, at the 25th position on the Forbes’ richest Indians list that was topped by Reliance Industries chief Mukesh Ambani for the 10th straight year.
Other new entrants in the Forbes India 100 Richest Indians 2017 list are Dinesh Nandwana (ranked 88th with a fortune of $1.72 billion) of e-governance services firm Vakrangee; Vijay Shekhar Sharma (99th, $1.47 billion) of fast-rising mobile wallet Paytm; and Rana Kapoor (100th, $1.46 billion) of Yes Bank.
“While the Indian billionaire factory continued to churn out new names from diverse sectors, the price of entry rose to a record high. The top 100 club is getting more exclusive with each passing year,” said Naazneen Karmali, India Editor of Forbes Asia. The minimum net worth to make the cut this year rose to $1.46 billion from $1.25 billion last year.
Last year, yoga guru Ramdev’s associate Acharya Balkrishna had entered the list at the 48th position, with a net worth of $2.5 billion. This year, he has improved his rank to 19 and his wealth has swelled to $6.55 billion. Noted returnees to the list include investor Radhakishan Damani and Future Group’s Kishore Biyani.
“The aggregate wealth of the top 100 has risen 26 per cent over last year, despite the struggle of some sectors like pharma. In fact, the entry point to the list is at its highest ever, at $1.46 billion, with several billionaires waiting in the wings. Clearly, India’s entrepreneurial energy is flourishing despite challenges,” Forbes India Editor Sourav Majumdar said.
These rankings are based on stock prices and exchange rates as of September 15. Private companies were valued by using comparisons with similar publicly traded companies.