Mukesh Ambani is once again the richest Indian with net worth of $22.7 billion: Forbes

In last one year, Mukesh Ambani's fortune increased from $18.9 billion to $22.7 billion as RIL shares rose 21 per cent in past 12 months.

Singapore, September 22: Reliance Industries Chairman Mukesh Ambani is once again listed as India’s richest person with net worth of $22.7 billion, according to 2016 Forbes list. In last one year, Mukesh Ambani’s fortune increased from $18.9 billion to $22.7 billion as RIL shares rose 21 per cent in past 12 months. Recently Reliance company launched its 4G phone service, Jio which has already sparked a price war in Indian telecommunication market. Sun Pharma Chairman and its founder Dilip Sanghvi remains at number 2 with a net worth of $16.9 billion. the wealth of pharmaceutical magnate fell by $1.1 billion along with a drop in the shares of his company, which is the world’s fifth-largest generics maker. In 2016, Sun Pharma acquired 14 drugs from Novartis in Japan for $293 million, which will be distributed by Mitsubishi Tanabe Pharma.

On the third spot are Hinduja brothers with a net worth of $15.2 billion, an increase of $0.4 billion in last one year. On fourth spot tech giant Azim Premji, who has led Wipro for over five decades. This year Premji slipped to 4th spot from 3rd with a net worth of $15 billion. This year, Wipro – India’s third-largest outsources, reported a 6 per ent fall in net earning to $304 million in a recent quarter amid sluggish sales. Wipro which is looking to boost its growth in the market, the company has recently acquired HealthPlan Services, an insurance technology firm based in Florida. (Also Read: Reliance Jio 4G services to be launched tomorrow: Mukesh Ambani’s ambitious project set to revolutionize telecom sector)

According to Forbes India, after Brexit, Indian market appears to be steady as the economy is growing at 7 per cent plus. The Forbes list is compiled every year using shareholding and financial information obtained from the companies, families, individuals, stock exchanges, analysts and India’s regulatory agencies. This year there are six newcomers added to the list of serial entrepreneurs. Brothers Bhavin and Divyank Turakhia ranked 95 with $1.3 billion net worth. It is quite noteworthy that Acharya Balakrishnan (number 48, $2.5 billion) also made his debut with his fast moving consumer goods outfit Patanjali Ayurved, which he co-founded with Yoga Guru Baba Ramdev. According to Forbes the minimum amount required to enter the list was $1.25 billion, up from $1.1 billion in 2015.

This year top 10 richest in India are:

1) Mukesh Ambani; US $22.7 billion
2) Dilip Shanghvi; $16.9 billion
3) Hinduja brothers; $15.2 billion
4) Azim Premji; $15 billion
5) Pallonji Mistry; $13.9 billion
6) Lakshmi Mittal; $12.5 billion
7) Godrej family; $12.4 billion
8) Shiv Nadar; $11.4 billion
9) Kumar Birla; $8.8 billion
10) Cyrus Poonawalla, $8.6 billion