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India’s Young Billionaires 2011

National Money
India’s Young Billionaires 2011

1-Malvinder & Shivinder Singh

Net worth: $2.5 billion

Age: 37 (Malvinder), 35 (Shivinder)

Country of citizenship: India

Residence: Dehli, India

These brothers, both Duke University grads, control generic drug maker Ranbaxy Laboratories, founded by their grandfather. Malvinder is chief executive of Ranbaxy, which recently settled a lawsuit with GlaxoSmithKline over marketing rights to generic version of herpes drug Valtrex. In February 2008, Ranbaxy’s board approved a spinoff of the research arm into Ranbaxy Life Science Research. Shivinder runs Indian hospital chain Fortis Healthcare, which went public in 2007. The brothers also recently listed financial services arm Religare Enterprises.

2-Anurag Dikshit

Net worth: $1.6 billion

Age: 38

Country of citizenship: India

Residence: Gibraltar, Gibraltar

Developmental engineer turned online gambling mogul. Earned a degree in computer science and engineering from Indian Institute of Technology in New Delhi. First jobs at CMC, Websci and AT&T. PartyGaming founder, American Ruth Parasol, launched Starluck Casino on the Internet in 1997. Dikshit (pronounced Dix-it) joined a year later at age 25. He wrote the company’s betting software, which enables gamblers around the world to play one another in poker. The stock is down since its 2005 peak due to new U.S. laws banning financial groups from facilitating online bets. He sold a chunk of shares and left its board but still holds big stake.

3-Girish Tanti

Net worth: $1.3 billion

Age: 40

Country of citizenship: India

Residence: Pune, India

The youngest of four Tanti brothers who co-founded Suzlon Energy, which is the world’s most valuable wind power company. Girish, who has a 12% holding in Suzlon and sits on its board, looks after international business and human resources. His family got its start in textiles; moved into wind energy initially just to save money. Older brother Tulsi heads the company.

4-Sameer Gehlaut

Net worth: $1.2 billion

Age: 36

Country of citizenship: India

Residence: Bombay, India

India’s youngest self-made billionaire. An engineer from India’s elite Indian Institute of Technology, Delhi,Gehlaut started online brokerage Indiabulls with two college pals in 1999. He still heads the company and is its largest shareholder. Early investors included steel tycoon Lakshmi Mittal and hedge fund Farallon Capital. Listed Indiabulls in 2004; the group then moved into real estate. Scooped up prized land in Mumbai in public auctions that is being developed into commercial offices and malls. Spun off and listed real estate arm Indiabulls Real Estate in 2007. Plans to raise another $1.2 billion in Singapore for a separate property investment trust. Inked joint venture for life insurance with Societe Generale. Expanding into power–plans include setting up India’s fourth commodities exchange that will compete with fellow billionaire Jignesh Shah’s MCX.

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