17 February 2019
Bhubaneswar: The Oxfam Inequality Report of 2019 revealed that the wealth of the top 9 billionaires in India is equivalent to the wealth of the bottom 50% of the population in the country. The report also stated that Indian billionaires saw their fortunes swell by Rs. 2,200 crore a day in 2018.
Here are the top 5 richest Indians (based on 2018 Forbes List):
Net worth: 15.7 billion dollars
The 153-year-old Shapoorji Pallonji Group, engineering and construction giant. is run by business tycoon Pallonji Mistry. Apart from that, Mistry also owns Forbes Textiles and Eureka Forbes Limited. He is also the single largest shareholder in India’s largest private corporation Tata Group.
Net worth: 18 billion dollars
Siblings Srichand, Gopichand, Prakash and Ashok run the Hinduja Group. The multinational empire deals in various businesses like trucks, lubricants, banking and cable television. Ashok Leyland, Hinduja Bank Ltd., Hinduja Ventures Ltd., Gulf Oil Corporation Ltd., and Hinduja Healthcare limited all come under this banner. Forbes reported that Srichand and Gopichand live in London, Prakash resides in Geneva and the youngest Ashok takes care of company affairs from Mumbai.
Net worth: 18.3 billion dollars
Indian steel magnate Lakshmi Mittal is the chairman and CEO of ArcelorMittal, which is the world’s largest steelmaker. Mittal is currently based in United Kingdom. He is also a member of Boards of directors of Airbus Group, The World’s Economic Forum’s International Business Council and member of Indian Prime Minister’s Global Advisory council.
Net worth: 21 billion dollars
Azim Premji is the chairperson of Wipro, a leading Indian IT company and the country’s third largest outsourcer. He began with looking after the family's cooking oil business in 1966 and expanded that into software firm. Wipro’s innovation centre in Silicon Valley is focused on developing new technologies with startups.
Net worth: 47.3 billion dollars
Mukesh Ambani has constantly been termed as the richest man in India. He is the chairman, Managing director and largest shareholder of Reliance Industries Limited commonly known as RIL, that is a leader in refining, petrochemical and Oil and Gas sectors. In 2016, Reliance also dominated the telecom industry with the launch of 4G phone service Jio. He also owns Indian Premier League Franchise Mumbai Indians.