Mumbai, October 5: Forbes India announced its annual list of India’s 100 richest tycoons on Thursday and Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped the list yet again. With a net worth of $38 billion, Ambani has managed to retain his top position for the tenth consecutive year. As per details on Forbes India website, the total net worth of India’s 100 wealthiest stood at a whopping $479 billion despite the country’s economic crisis. This is a rise of 26 percent from $374 billion in 2016.

Ambani saw his wealth increase by 67 percent from $22.7 billion last year, making him the biggest dollar gainer on the list and one of Asia’s top five richest. “RIL’s share price has risen over the last year on the back of the company’s improved refining margins, and the telecom unit Reliance Jio’s massive success in notching up 130 million subscribers since its 2016 launch”, Forbes India said.

Ambani is then followed by tech tycoon Azim Premji, Hinduja brothers, Lakshmi Mittal, Pallonji Mistry and 95 other Indians who have made it to the list.  Azim Premji, who has ranked second on the Forbes list, has his net worth rising by $4 billion to $19 billion this year. As per reports by Forbes India, the gain is partly due to increased revenue and profit at his privately held consumer-goods business Wipro Enterprises, which makes everything from soaps to lightbulbs. The Hinduja brothers added $3.2 billion to their net worth. The Forbes List states that many of the listees are poorer than a year ago, with half of them from the pharmaceutical sector, which has been plagued by challenges.

Here’s the list of Forbes India’s 100 Richest 2017:

RankNameNet Worth (in $bn)Company Age
1Mukesh Ambani38Reliance Industries60
2Azim Premji19Wipro72
3Hinduja brothers18.4Ashok Leyland81, 76, 71, 66
4Lakshmi Mittal16.5Arcelormittal67
5Pallonji Mistry16Shapoorji Pallonji Group88
6Godrej family14.2Godrej GroupNA
7Shiv Nadar13.6HCL Technologies72
8Kumar Birla12.6Aditya Birla Group50
9Dilip Shanghvi12.1Sun Pharmaceutical Industries61
10Gautam Adani11Adani Ports & SEZ55
11Uday Kotak10.5Kotak Mahindra Bank58
12Radhakishan Damani9.3Avenue Supermarts62
13Cyrus Poonawalla8.9Serum Institute Of India76
14Sunil Mittal8.3Bharti Airtel60
15Bajaj family8Bajaj AutoNA
16Savitri Jindal7.5O.P. Jindal Group67
17Vikram Lal7.2Eicher Motors75
18Benu Gopal Bangur6.6Shree Cement86
19Acharya Balkrishna6.55Patanjali Ayurved45
20Burman Family6.5DaburNA
21Subhash Chandra6Essel Group66
22Pankaj Patel5.9Cadila Healthcare64
23Vivek Chaand Sehgal5.85Motherson Sumi Sytems60
24Kushal Pal Singh5.7DLF86
25Nusli Wadia5.6Britannia Industries73
26Ajay Piramal5.2Piramal Enterprises62
27M.A. Yusuff Ali5LuLu Group61
28Madhukar Parekh4.75Pidilite Industries71
29Kalanithi Maran4.55Sun TV Network52
30Pawan Munjal4.5Hero Motocorp63
31Kapil & Rahul Bhatia4.4Interglobe Aviation85 (Kapil), 57 (Rahul)
32Micky Jagtiani4.3Landmark Group66
33Harsh Mariwala4.2Marico66
34B.R. Shetty3.9NMC Health75
35Ravi Pillai3.8RP Group64
36Mangal Prabhat Lodha3.75Lodha Group61
37Kuldeep & Gurbachan Singh Dhingra3.7Berger Paints India70 (Kuldeep), 67 Gurbachan
38Karsanbhai Patel3.6Nirma73
39Ashwin Dani3.5Asian Paints74
40Gupta Family3.45LupinNA
41Shashi & Ravi Ruia3.4Essar Group73 (Shashi), 68 (Ravi)
42Sudhir & Samir Mehta3.35Torrent Group63 (Sudhir), 54 (Samir)
43Samprada Singh3.3Alkem Laboratories91
44Anil Agarwal3.2Vedanta Resources64
45Anil Ambani3.15Reliance Communications58
46P.V. Ramprasad Reddy3.14Aurobindo Pharma59
47Baba Kalyani3.13Bharat Forge68
48Vinod & Anil Rai Gupta3.11Havells72 (Vinod), 48 (Anil)
49Sameer Gehlaut3.1Indiabulls Group43
50Hasmukh Chudgar3.05Intas Pharmaceuticals84
51Jain Family3Bennett Coleman & Co.NA
52Ashwin Choksi2.95Asian Paints74
53Rajan Raheja2.9Exide Industries63
54Rakesh Jhunjhunwala2.8Rare Enterprises57
55Kishore Biyani2.75Future Group56
56Abhay Vakil2.71Asian Paints66
57Chandru Raheja2.7K. Raheja Corp77
58M.G. George Muthoot2.67Muthoot Finance67
59Abhay Firodia2.65Force Motors72
60Yusuf Hamied2.62Cipla81
61Rajesh Mehta2.6Rajesh Exports53
62Vijay Chauhan2.5Parle Products81
63Amalgamations Group family2.48Tractors & Farm EquipmentNA
64Jai Hari and Yadu Hari Dalmia2.45Dalmia Bharat73(Jai Hari), 70(Yadu Hari)
65Sunny Varkey2.4GEMS Education60
66Murugappa family2.38Murugappa GroupNA
67Rajendra Agarwal2.3Macleods Pharmaceuticals58
68Harsh Goenka2.28RPG Group59
69Sunil Vaswani2.25Stallion Group54
70Jitendra Virwani2.2Embassy Property Development51
71Leena Tewari2.19USV India60
72Kiran Mazumdar-Shaw2.16Biocon64
73Sanjiv Goenka2RP-Sanjiv Goenka Group56
74Lachhman Das Mittal1.98Sonalika Group86
75Murli Dhar & Bimal Gyanchandani1.96RSPLNA
76Mofatraj Munot1.95Kalpataru72
77Murali Divi1.94Divi’s Laboratories66
78Ramesh Juneja1.92Mankind Pharma64
79Anurag Jain1.91Endurance Technologies55
80Ranjan Pai1.9Manipal Group44
81Vikas Oberoi1.87Oberoi Realty47
82Ravi Jaipuria1.84RJ Corp62
83Salil Singhal1.83PI Industries70
84N.R. Narayana Murthy1.82Infosys71
85Nirav Modi1.8Firestar Diamond46
86Rajju Shroff1.77UPL83
87Sunder Genomal1.75Page Industries63
88Dinesh Nandwana1.72Vakrangee54
89Nandan Nilekani1.71Infosys62
90Radhe Shyam Agarwal1.64Emami72
90Radhe Shyam Goenka1.64Emami71
92Senapathy Gopalakrishnan1.61Infosys62
93Satish Mehta1.6Emcure Pharmaceuticals66
94Shamsheer Vayalil1.57VPS Healthcare40
95Shyam & Hari Bhartia1.56Jubilant Group64 (Shyam), 60 (Hari)
96Anand Mahindra1.54Mahindra & Mahindra62
97Reddy family1.53Dr. Reddy’s LaboratoriesNA
98Arvind Poddar1.48Balkrishna Industries59
99Vijay Shekhar Sharma1.47Paytm39
100Rana Kapoor1.46Yes Bank60

Forbes is an American business magazine which is published bi-weekly and features original articles on finance, industry, investing and marketing topics. Naazneen Karmali, India Editor of Forbes Asia, said, “Despite India’s economic slowdown, the country’s 100 richest have collectively enjoyed a bumper year thanks to a buoyant stock market. While the Indian billionaire factory continued to churn out new names from diverse sectors, the price of entry rose to a record high. The top 100 club is getting more exclusive with each passing year.”

Sourav Majumdar, Editor, Forbes India, said, “The aggregate wealth of the top 100 has risen 26% over last year, despite the struggle of some sectors like pharma. In fact, the entry point to the list is at its highest ever, at $1.46 billion, with several billionaires waiting in the wings. Clearly, India’s entrepreneurial energy is flourishing despite challenges.” The richest newcomer is Nusli Wadia (No. 25, $5.6 billion,  Dinesh Nandwana (No. 88, $1.72 billion) of e-governance services firm Vakrangee; Vijay Shekhar Sharma (No. 99, $1.47 billion) of fast-rising mobile wallet Paytm; and Rana Kapoor (No. 100, $1.46 billion) of Yes Bank, India’s fifth-largest bank in the private sector.