India is rich in many ways and when it comes to money the subcontinent can lay claim to some the world’s wealthiest. Here’s a who’s who of the wealthy and how they made their money.
There’s more to life than money, but as Spike Miligna once said, “Money can’t buy you happiness, but it does bring you a more pleasant form of misery.”
India – despite demonitiasation – is on an economic boom and the rich are reaping the rewards.
According to an article in the Indian Express, millionaires in India now control 54% of the country’s wealth. That level of inequality makes India second only to Russia in the world rankings.
The number of Indian’s with assets of over US$1 million jumped by a massive 55% between 2007 and 2015 to reach over 236,000. And, with a combined wealth of over $1.5 trillion, Indian’s richest are some of the wealthiest people on the planet.
The rich list – Big five
Mukesh Ambani is the head of India’s richest .
Ambani, Chairman of Reliance Industries, has amassed a US$19.3 billion fortune from a diverse business portfolio including petrochemicals and oil and gas.
The son of “Dhirubhai” Ambani, who founded the business from a Mumbai slum, the Ambanis are a real life tale of rags to riches. The life story of Dhirubhai iss told excellently in this 15 minutes podcast by acclaimed historian, Sunil Khilnarni.
Phamaceutical giant, Dilip Shanghvi, with a net worth of US$16.9 is India’s second wealthiest individual. The Hinduja family, citizens of the United Kingdom, with a portfolio of interests grouped under the Hinduja group ranging from trucks and lubricants to banking, come in third with assets of US$15.2 billion.
In fourth place it’s tech and software giant, Azim Premji who is estimated to be worth US$14.7 billion. Wipro, India’s third largest outsourcing company is amongst his interests. Finally, making up the big five is Pallonji Mistry with US$13.9 billion, thanks to interests that include construction.
So, what about the women?
There are just four women that make it onto the list of India’s wealthiest one hundred.
The first, 19th on the list, is Savitri Jindal. Widower Savitri and family, steel magnates, are worth US$5.3 billion. Next, it’s Vinod & Anil Rai Gupta whose lightening and electrical business is worth US$2.5 billion. The makes the pair the 46th wealthiest in India.
Self made biotech leader Kiran Mazumdar-Shaw is next with US$1.9 billion, making her the 65 wealthiest. The final lady on the list, at number 79, is Leena Tewari. Her pharmaceutical interests give her a net worth of US$1.6 billion.
Young guns getting rich quick
The youngest to make the cut, squeezing in at number 98, is 40 year old Shamsheer Vayalil. This healthcare leader has assets of US$1.3 billion.
Sameer Gehlaut, two years older at 42 and with assets of US$1.39, takes 86th spot. Self made consumer gods guru Acharya Balkrishna is worth US$2.5 billion at 44 years of age. He’s India’s 48th wealthiest individual.
Information sourced from Forbes. For a run down on India’s wealthiest click on this link. Retrieved 13.01.2017