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Forbes lists 121 billionaires in India: Here are top 10

According to the magazine, India has 121 billionaires - 19 more than last year - making them the third largest group of the ultra-rich after those from the US and China.

Edited by: India TV Business Desk, New Delhi [ Published on: March 07, 2018 9:49 IST ]
India's richest man Mukesh Ambani with his wife and son
India's richest man Mukesh Ambani with his wife and sonPhoto:PTI
Energy and petrochemicals magnate, Mukesh Ambani, has managed to keep his standing as the richest Indian and has, in fact, became richer by $16.9 billion in 2018 with assets of $40.1 billion, said Forbes annual list of billionaires, issued on Tuesday.
 
He moved up to the 19th global rank on the list of 2,208 billionaires worldwide compiled by Forbes. In 2017, he ranked 33rd with $23.2 billion.
 
According to the magazine, India has 121 billionaires - 19 more than last year - making them the third largest group of the ultra-rich after those from the US and China.
 
The US has 585 billionaires and China 373 this year on the Forbes tally, which it calls "The Three Comma Club" for the punctuation used in writing out fully the billion in numbers.
 
In 2017, there were 102 Indians on the list.
 
Amazon founder Jeff Bezos is the world's richest man with assets valued at $112 billion, overtaking Microsoft co-founder Bill Gates whose fortunes are valued at $90 billion and investor Warren Buffet with $84 billion.
 
The software entrepreneur Azim Premji moves to the second richest Indian spot in 2018, passing Lakshmi Mittal, the international steel tycoon, according to the magazine.
 
Premji moved up from the 72nd global spot in 2017 with $14.9 billion, to the 58th rank with $18.8 billion this year.
 
Although the value of his assets have increased over the past year, Lakshmi Mittal slid to the 62nd rank on the 2018 global list and to the third spot among Indians with $18.5 billion from the 56th worldwide rank with $16.4 billion in 2017.
 
The richest Indian woman on the Forbes list is Savitri Jindal of the Jindal steel and power conglomerate, who ranks 176th globally on the Forbes list with $8.8 billion. 
 
Next is the biotech entrepreneur Kiran Mazumdar-Shaw at 629 with $3.6 billion.
 
The 39-year-old financial technology entrepreneur Vijay Shekhar Sharma, who ranks 1,394th globally with $1.7 billion, is the youngest Indian on the Forbes list.
 
Software company HCL's founder Shiv Nadar is the fourth richest Indian on the list with $14.6 billion and is ranked 98 globally.
 
Sun Pharmaceuticals founder Dilip Shanghvi ranks next as the fifth richest Indian with $12.8 billion at the 115th global spot.
 
The Indian pharmaceutical sector has the most number of billionaires - 16. 
 
It is followed by consumer goods with 15 billionaires, real estate with nine, and software services and diversified investments with eight each.
 
Nirav Modi, the jeweller who has reportedly been linked to an alleged $2 billion-fraud involving the Punjab National Bank, was not on last year's or this year's global list of billionaires, but a separate list of only Indian billionaires published by Forbes in October ranked him 85th with assets worth $1.8 billion.
 
Many people of the Indian diaspora also figure on the Forbes list. Construction magnate Pallonji Mistry, who is listed as Irish, is ranked 66th with $17.8 billion.
 
There are nine others of Indian origin with assets over $2 billion from Australia, Britain, Malaysia, Indonesia, Singapore and the US.
 
The top Indian billionaires
 
Here is a list of the richest Indians on the Forbes list with assets over $8 billion. (Their global rank is shown before their names and the sector and value of assets as listed by Forbes follow their names.)
 
19 Mukesh Ambani ($40.1 billion, petrochemicals, oil & gas)
 
58 Azim Premji ($18.8 billion, software services)
 
62 Lakshmi Mittal ($18.5 billion, steel)
 
98 Shiv Nadar ($14.6 billion, software services)
 
115 Dilip Shanghvi ($12.8 billion, pharmaceuticals)
 
127 Kumar Birla ($11.8 billion, commodities)
 
143 Uday Kotak ($10.7 billion, banking)
 
151 Radhakishan Damani ($10 billion, investments, retail)
 
154 Gautam Adani ($9.7 billion, commodities, ports)
 
170 Cyrus Poonawalla ($9.1 billion, vaccines)
 
(With inputs from IANS)

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