India’s economy has become the fifth largest economy in the world in the post-coronavirus era. Despite coming out ahead of England, it fell below its own value last year.
Despite this, the combined wealth of India’s 100 richest people has increased by $25 billion to reach $800 billion, according to Forbes. Forbes has released the list of 100 richest Indians for this year.
Adani has been crowned the country’s richest person this year with assets of around $150 billion, nearly tripling his wealth by 2021.
Reliance Industries, publisher of Forbes India, owner of Network 18, oil and gas to Jio telecom founder Mukesh Ambani is at No. 2 with $88 billion in assets, down 5 percent from last year.
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Radhakishen Damani, the country’s retail tycoon, owns DMart supermarkets. His net worth dropped 6 percent to $27.6 billion, making it into the top three.
The colossal profits of Covid-19 vaccines have pulled Cyrus Poonawalla, founder of COVISHIELD vaccine maker Serum Institute, to the fourth position with a net worth of $21.5 billion.
There are nine new faces on this year’s list. It has three IPOs: Banker-turned-founder of beauty and fashion retailer Nyika, Falguni Nair has become India’s richest woman.
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Ethnic wear maker Ravi Modi and Rafiq Malik, maker of Metro brand shoes last December, are some of the new faces on the list.
In addition, three prominent wealthy members passed away this year. We have lost prominent rich people like Rahul Bajaj of the Bajaj family, Rakesh Jhunjhunwala who started Agasa Air, and construction magnate Cyrus Mistry.
Anand Mahindra is one of those who left the list and rejoined the list. He created a buzz in the business community with the launch of his Mahindra & Mahindra Electric SUV.
Vijay Shekhar Sharma’s fintech Paytm’s parent One97 Communications has been dropped from the 100 Rich List as its shares suffered heavy losses amid the global tech downturn.
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