It is raining billionaires in India. About 276 new billionaires have entered the rich list this year, says a Business Standard study.
Their wealth is calculated on the basis of their holdings of company stock. The number of billionaires has thus increased five times, from just 120 in 2000 to 602 now.
Wealth creation hit a record this year as India's dollar billionaire club rose to 50 from around 42 in December 2007. India had only 21 dollar billionaires same time last year.
As many as 14 new billionaires entered the list on account of initial public offers.
Meet the richest people who make it to the 'The Business Standard Billionaires Club'.
1. Mukesh Ambani
Mukesh Ambani, chairman of Reliance Industries leads the richest list with a wealth of 1,59,854 crore (Rs 1.59 trillion).
The Ambani brothers now have wealth that is marginally more than Rs 2,28,000 crore (Rs 2.28 trillion).
2. Anil Agarwal
Anil Agarwal, founder-director and executive chairman of the UK-based Vedanta Resources Corporation, who was the fifth richest in the list last year has grabbed the second position this year with a wealth of Rs 91,926 crore (Rs 919.26 billion).
3. Azim Premji
Chairman of Wipro Azim Premji with a net worth of Rs 83,652 crore (Rs 836.52 billion) is the third richest in 'The Business Standard Billionaires Club'. Premji is also the world's 28th richest man according to Forbes.
4. Sunil Mittal
Chairman of Bharti Airtel, Sunil Mittal's rank has slipped to 4th place this year with a wealth of Rs 77,558 crore (Rs 775.58 billion).
He is the 87th richest man in the world.
5. Anil Ambani
Anil Ambani, chairman of Anil Dhirubhai Ambani Group, with a net worth of Rs 68,443 crore (Rs 684.43 billion) has been pushed to fifth place from third place last year.
6. Prithviraj, Sajjan & Naveen Jindal
Prithviraj, Sajjan & Naveen Jindal of JSW Steel with a net worth of Rs 65,535 crore (Rs 655.35 billion) are ranked in the 6th position. Their wealth zoomed by 161 per cent over last year.
7. Gautam S Adani
Gautam S Adani, chairman of Adani Enterprises who was at 4th place last year is pushed to 7th position this year. His wealth stood at Rs 60,474 crore (Rs 604.74 billion).
8. K P Singh and family
K P Singh & family take the 8th place with a net worth of Rs 40,999 crore (Rs 409.99 billion). Their wealth increased by 92 per cent over the last year.
K P Singh, chairman of DLF, is the 74th richest man in the world, in the Forbes ranking.
9. Kumar Mangalam Birla
Kumar Mangalam Birla, chairman of the Aditya Birla Group, is at the 9th richest with a wealth of Rs 29,111 crore (Rs 291.11 billion), a growth of 95 per cent over the last year.
10. Keshub Mahindra
Keshub Mahindra, chairman of Mahindra & Mahindra Ltd, who was ranked 13 last year, has been ranked as the 10th richest this year.
His wealth grew by 158 per cent to Rs 23,925 crore (Rs 239.25 billion).
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