Like in any other country, there are also self-made billionaires and old-rich families who own the position as India’s richest. Some have earned their wealth by establishing their own businesses, while others are destined to be rich for the rest of their lives because of their inheritance. Here are the ones who landed in the top 10 list of India’s richest.
1. Mukesh Ambani Age: 55 Net Worth: $21 Billion
For five consecutive years, Mukesh Ambani remained undefeated in the number 1 spot. He recently earned the 19th rank in Forbes’ List of Billionaires. His company which is named, Reliance Industries, may be facing some tough challenges in the past years but it is still considered as the number one most valuable company in India. His business is focused on petrochemicals, oil and gas. On the other hand, his wife, Nita, spearheads a charitable institution called, Reliance Foundation. The foundation is praised for funding India’s first Braille in Hindi.
2. Lakshmi Mittal Age: 62 Net Worth: $16 Billion
Lakshmi Mittal may be encountering $3 billion drop in his wealth for the past year but he still makes it in top 2. He is the man behind the world renowned steel company, ArcelorMittal. This company is recognized as the largest steelmaker not just in India but also in the US, Europe and other parts of the world. In the recent years, the company has been experiencing financial turmoil because the demand for steel in Europe dwindled. Though some of the company’s assets are being sold so that the $22 billion debt would be reduced, he still foresees creation of two more steel mills in the future.
3. Azim Premji Age: 66 Net Worth: $12.2 Billion
The wealth of Azim Premji is primarily drawn from his business that is focused on IT and software. He is the chairman of Wipro or Western India Products Unlimited. This is a company that is geared on providing information technology services, outsourcing services and business consulting. It has been reported that the company is experiencing some financial drop in the earlier months of the year, because of the difficulty in acquiring new contracts for their outsourced work. In March this year, some stocks which Azim Premji owns have been auctioned but only half of those were grabbed by other investors. Despite financial woes, he is still known as the most generous person in Asia for funding philanthropic projects. He has given $2 billion for the creation of a university. He also works hand in hand with Bill Gates and Ratan Tata for other charitable projects.
4. Dilip Shangvi Age: 57 Net Worth: $9.2 Billion
In an economy wherein all companies seem to be experiencing financial difficulty, Dilip Shangvi continues to make his wealth grow even more. In 1982, he started up his pharmaceutical company which is named, Sun Pharmaceutical Industries. This is the leading producer of medicines within India. Currently, he is taking the position as the managing director. The new chairman for the company is the former chief executive of Teva Pharmaceutical.
5. Savitri Jindal and Family Age: 62 Net Worth: $8.2 Billion
She is currently the chairman for OP Jindal Group which is a company that is focused on steel and power production. This was originally founded by her husband, but when he passed away, Savitri Jindal took over. Her sons have also ventured into the steel business. Naveen, who is her youngest son, is in charge of the Jindal Steel and Power, which is currently considered as the largest asset of the family. Her other son, Sajjan, runs JSW Steel.
6. Shashi and Ravi Ruia Age: 68 Net Worth: $8.1 Billion
These brothers are the owners of Esar Group. The primary focus of their company is in steel production and oil refining. However, they also have more investments in other industries, allowing them to operate business in 25 different countries. Among the industries which they ventured into include steel operations in US, telecom business n Kenya and Aegis, which is an outsourcing firm.
7. Kumar Birla Age: 44 Net Worth: $7.8 Billion
The assets and investment of Kumar Birla is allocated for various commodities which are all under his company, Aditya Birla Group. This company is involved with Pantaloon Retail with a $150 million deal. Kumar Birla also went ahead with a major investment by acquiring Terrace Bay which is a pulp mill in Canada. He also ventured into the media industry by holding shares in Living Media. This printing company is the publisher of major magazines like India Today and Business Today.
8. Anil Ambani Age: 52 Net Worth: $6 Billion
Anil Ambani is the chairman for Reliance Communication. In his time as the company’s head, he was able turn things around by putting a halt on its financial downfall. The company has been losing money for two consecutive years but this changed through his efforts and strategy. His company has also ventured into the media business through a daughter company named, Reliance Media Works. This media endeavor led to the acquisition of 30% stake of Digital Domain which is owned by Hollywood’s James Cameron.
9. Sunil Mittal and Family Age: 54 Net Worth: $5.9 Billion
The telecom industry boosted the wealth of Sunil Mittal and his family. Their company is named, Bharti Airtel. The products and services from this company have reached 260 million customers in 20 different countries. The family also owns a telecom tower, Bharti Infratel, which is headed by his brother, Rakesh. Sunil Mittal also supports education in less-fortunate communities through his Bharti Foundation.
10. Kushal Pal Singh Age: 80 Net Worth: $5.5 Billion
Kushal Pal Singh is renowned for his far-reaching real estate company. This land tycoon is the one responsible for the development of Gurgaon, which is in the southern part of Delhi. His business was also badly hit when the company had to face allegations of selling real estate properties that do not follow the market rates. Though the company is burdened by a $4.3 billion debt, he manages to make it on the top 10 list.