India now has a record number of billionaires, with the country's top ten richest people worth a third more than a year ago. Below, are the ten richest people in India.
1. Mukesh Ambani
Net assets: $90.7 billion
Source of wealth: Diversification
City: Mumbai
Ambani, whose fortunes are built on oil, gas and petrochemicals, has painted a green future for his Reliance Industries, which plans to invest $80 billion in renewable energy over 15 years.
2. Gautam Adani
Net assets: $90 billion
Source of wealth: Infrastructure
City: Ahmedabad
Adani's wealth soared for the second consecutive year, in part due to higher shares of publicly traded solar producer Adani Green Energy. The infrastructure tycoon is doubling down on investment in renewables and said he will invest $70 billion to meet his ambitions to become the world's largest producer of renewable energy by 2030.
3. Shifnadar
Net assets: $28.7 billion
Source of wealth: Software services
City: Delhi
Co-founded the $11.2 billion (revenue) technology pioneer of HCL Technologies with one of India's largest software service providers, and is now Honorary Chairman of the Board and Strategic Advisor. His daughter is chairman of the company, which employs 198,000 people in 52 countries.
4. Cyrus Punavala
Net assets: $24.3 billion
Source of wealth: Vaccines
City: Pune
A large portion of the 1.8 billion COVID-19 vaccines provided to Indians to date have been provided by his private Indian Serum Research Institute, which manufactures COVID-19 vaccines under AstraZeneca's license.
5. Radakishan Damani
Net assets: $20 billion
Sources of wealth: retail, investment
City: Mumbai
Twenty years ago, a veteran stock market investor began venturing into retail, when there was only one grocery store, and then built it into a supermarket chain that operates 271 D-Mart stores across the country. Damani and his brother reportedly bought a house in southern Mumbai last year for more than $100 million.
6. Lakshmimital
Net assets: $17.9 billion
Source of wealth: Steel
City: London
Rising steel prices boosted the wealth of the executive director of steel giant ArcelorMittal, a $76.6 billion (revenue) company. The company reported a net profit of $15 billion in 2021, compared to a loss of $733 million in the previous year.
7. Savitri Jindal
Net assets: $17.7 billion
Source of wealth: Steel
City: Hisar
The person is the honorary chairman of The Jindal Group, a steel and power conglomerate named after her late husband, benefiting from a nearly four-fold rise in the group's share price since last year.
8. Kumar Bira
Net assets: $16.5 billion
Source of wealth: Commodities
City: Mumbai
Since 1995, Bira has chaired Aditya Beira, India's $45 billion (revenue)-based mega-business conglomerate, a sprawling conglomerate named after his late father.
9. Dilip Shanvey
Net assets: $15.6 billion
Source of wealth: Medicine
City: Mumbai
Sun Pharmaceuticals, where Shangri-La is listed, is the world's fourth-largest manufacturer of specialty generics and the most valuable pharmaceutical company in India. Two-thirds of Sun Pharmaceuticals' $4.5 billion revenue comes from international markets.
10. Uday Kodak
Net assets: $14.3 billion
Source of wealth: Banking
City: Mumbai
India's richest self-made banker, after obtaining a banking license 19 years ago, transformed his finance company into Kotak Bank. Investors include the Investment Board of the Canadian Pension Plan.
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