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Mukesh richest Indian for fifth straight year

Mukesh richest Indian for fifth straight year
Mukesh Ambani has retained his position as the world’s richest Indian for the fifth year in a row, although his networth declined by $1.6 billion to $21 billion but remained well above that of the second-ranked Lakshmi Mittal.

Steel baron Mittal’s networth also fell by $3 billion at $16 billion, making him the second richest, as per global business magazine Forbes’ annual ranking of 100 wealthiest Indians, released on Thursday.

Ambani, who heads energy-to-retail conglomerate Reliance Industries group, and Mittal were followed by IT czar Azim Premji ($12.2 billion), construction major and Tata group’s major shareholder Shapoorji Pallonji group patriarch Pallonji Mistry ($9.8 billion) and drugmaker Sun Pharma’s Dilip Shanghvi ($9.2 billion) in the top-five. Mukesh’s younger brother Anil Ambani, who heads telecom-to-infrastructure conglomerate Reliance Group, was ranked 11th with a networth of USD 6 billion.

Others in top-10 ranking include Adi Godrej at 6th position (USD 9 billion), followed by Savitri Jindal (USD 8.2 billion), Shashi & Ravi Ruia (USD 8.1 billion), Hinduja Brothers (USD 8 billion) and Kumar Mangalam Birla (USD 7.8 billion). Even as the networth of top-ranked persons like Ambani and Mittal fell, the collective wealth of India’s richest 100 rose by 3.7 per cent (USD 9 billion) to USD 250 billion in the past one year, Forbes said.

The number of billionaires also rose to 61, from 57 last year. Sun Pharma group’s Shanghvi entered the top-five for the first time.
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