India is considered as one of the developing countries due to its growth in every sector and good relations with powerful countries. In India, more than 19 people come under the list of top billionaires all over the world. Out of other cities in India, Mumbai is known as the home city of rich people as here most numbers of billionaires are living. Later the city is followed by Bangalore, Delhi, and some of the top richest based outside India in different countries.
Though the growth of the company may seem slow due to its economic condition, but the wealth of the richest Indians seems to be increasing continuously. There is no declination in the percentage of the Indian’s richest people due to the slowdown of the economy.
In this article, we are going to talk about the richest people in India that are ranking the country with a huge amount of cash flowing into their accounts.
Let’s go through the article to know in-depth about the top 10 richest persons in India
Top 10 Richest People in India
1. Mukesh Ambani
Reliance Group Chairman and Managing director Mukesh Ambani continued to dominate the list of Indian billionaires with having a net worth of $50 billion.He was ranked 19th in the Forbes World’s Billionaire list in 2018. However, he jumped six places to 13th spot in 2019. He is from Gujarat. He studied from the Institute of Chemical Technology and a dropout from Stanford University.
Mukesh Ambani is the Chairman of the Oil and gas giant Reliance Industries, which has revenue of around US$60 billion. RIL is among India’s most valuable companies. With the launch of 4G phone service Jio, Reliance sparked a price war in India’s hyper-competitive telecom market.
- He is a Chairman and MD of Reliance Group
- He is India’s richest person from the last many years.
- He has a net worth of $50 billion and has revenue of around US$60 billion.
- His newly launched 4G phone service, Jio signs up 280 million customers and still counting.
2. Azim Premji
Wipro founder, Azim Premji, is the second richest Indian for the second year in a row with a net worth of around $22.6 billion. In the World’s Billionaire list of Forbes in 2019, he holds 36th rank. Azim Premji’s Wipro is the 3rd largest outsourcing company in the world with revenue of US$8.4 billion.
Like Mukesh Ambani, Azim Premji is a dropout from Stanford University due to the early death of his father in 1966. After this, he took over the cooking oil business of his family and extended it into software business. The important thing about Wipro is that they have an innovation center in Silicon Valley which focuses on the development of new technologies and also cooperates with startups.
- He is a founder of Wipro.
- He has a net worth of US$22.6 billion.
- Wipro is the 3rd largest outsourcing company.
- He also has an innovation center in Silicon Valley which focuses on the development of new technologies.
3. Shiv Nadar
The co-founder of HCL technologies, Shiv Nadar jumped three places to finish at third on India’s richest list with a net worth of around $14.6 billion. He is also ranked at 82nd by Forbes in the world’s billionaire list this year. According to Forbes, an HCL technology is the fourth largest software service provider company in India with revenue of $8.2 billion.
He is also a humanitarian and donated $662 million to his foundation, which works on education-related causes.
- He is the founder of HCL technologies.
- He has a net worth of $14.6 billion.
- His company HCL is the 4th largest software service provider of India with revenue of $8.2 billion.
- He is also a philanthropist.
4. Lakshmi Mittal
A world-renowned steel magnate, Lakshmi Mittal is the 4th richest person in India with a net worth of US$13.6 billion. He holds 91st rank in the world’s billionaire list. Lakshmi Mittal merged his company Mittal steels with Arcelor in 2006 to form the largest steelmaker of the world ArcelorMittal.In 2018 the net profit of the company is $5.1 billion on revenue of US$76 billion.
- He is the world’s renowned steel magnate.
- He is the owner of the largest steelmaker company ArcelorMittal.
- He has a net profit of $5.1 billion.
- The overall revenue of the company is $76 billion.
5. Uday Kotak
Uday Kotak is the managing director as well as executive vice-chairman of Kotak Mahindra Bank. He has a net worth of $11.8 billion and jumped seven places to rank at the 5th richest men in India. He is in 114th ranked in the world billionaire list. Kotak Mahindra Bank is now among India’s leading banks in the private sector. It is boosted due to its 2014 acquisition of ING bank’s Indian operation. Since its launch, Kotak’s 811 digital banking app that offers zero-balance accounts has expanded its reach to 16 million customers.
- He is the Managing Director of Kotak Mahindra Bank.
- He has a net worth of $11.8 billion.
- Kotak Mahindra bank is one of the leading banks in the private sector.
6. KM Birla, Radhakishan Damani
Investor Radhakishan Damani and Aditya Birla Group Chairman Kumar Manglam share the 6th place in the list of India’s richest persons. They both have a net worth of U$11.1 billion. From last year’s ranking, they jumped 3 and 5 places respectively. In the Forbes world’s list, they both are ranked 122nd.
In August 2018, Birla merged his idea cellular and Vodafone India to form India’s largest telecom firm Vodafone Idea. Damani holds stakes in a range of companies, from VST industries to beer maker United Breweries.
- KM Birla is the owner of Aditya Birla Group
- His net worth is $11.1 billion.
- He also forms India’s largest telecom firm Vodafone Idea.
- Radhakishan Damani is an Investor.
- His net worth is also $11.1 billion and he holds stakes in a wide range of companies.
The founder of the Serum Institute of India, Cyrus Poonawalla is one of the largest manufacturers of the vaccine in the world. He has a net worth of $9.5 billion and jumped eight places to become the 7th richest man in India. In the world’s richest list, he ranked 147th.
Serum Institute produces 1.5 billion doses of vaccine annually for polio, measles, and flu.
- He is the founder of the Serum Institute of India.
- His company is the largest manufacturer of vaccines in the world.
- His net worth is $9.5 billion.
8. Gautam Adani
Gautam Adani, one of the fastest rising billionaire is a Chairman of Adani Group, with a net worth of $8.7 billion. He jumped two positions to become 8th richest men in India, and ranked 167th in the world’s richest list. Adani Group with revenue of $12 billion spans over power generation and transmission, commodities, and real estate. He also controls India’s largest Mundra Port in Gujarat.
- He is the chairman of Adani Group.
- His net worth is $8.7 billion
- The revenue of his company is around $12 billion.
- He also controls the largest Mundra Port in Gujarat.
9. Dilip Shangvi
Founder of Sun Pharma, Dilip Shangvi with a net worth of $7.6 billion is the 9th richest men in India, also ranked 191st in the world list. His company Sun Pharma is the 4th largest specialty generic drug maker. He also owned the most valuable pharmaceutical company in India with revenue of $3.6 billion in March 2018.
- He is the founder of Sun Pharma.
- Sun Pharma is the 4th largest generic drug maker.
- His net worth is $7.6 billion.
- He owns India’s most valuable pharmaceutical company whose revenue is around $3.6 billion.
10. Nusli Wadia
Nusli Wadia is the Chairman of Wadia Group with a net worth of $7 billion. He jumped eight places to become India’s 10th richest person this year. He also ranked 209th in the world’s billionaire list.
The group companies of Wadia Group include Britannia Industries, Bombay Dyeing, GoAir, and others.
- He is the Chairman of Wadia Group.
- He has a net worth of $7 billion.
- His Wadia Group includes Britannia industries, GoAir, and others.
It is commonly said that money cannot buy happiness, but from the above article the trend seems to be reversing. Now the youth are going towards high-income jobs as they know that money is a major determinant in personal happiness. The Forbes list of India’s richest man is updating yearly and some of the persons from the list are regular name from the last many years, and few of them enters for the first time.