TOP 10 WEALTHIEST PEOPLE IN INDIA
India is the currently the 6th largest economy. However, the top 1% of the population holds a staggering 73% of the wealth. Let’s have a look at the top 10 who contribute to the most of this wealth.
1. MUKESH AMBANI
Mukesh Ambani runs the oil cum gas giant Reliance Industries whose revenue amounts to $51billion. After the death of the founder Dhirubhai Ambani in 2002, the business empire was split up between the two brothers Anil and Mukesh. Reliance made it to the news headlines in 2016 when they launched 4G phone service Jio which fetched them a pinnacle of 130 million customers by the much captivating free domestic calls and net services at cheap rates.
2. AZIM PREMJI (Chairman, Wipro Limited(ADR)
Often called the Czar of India’s IT industry, this business tycoon is the chairman of Wipro – a company which ranks third in India in terms of outsourcing. Premji took over charge after his father’s death in 1966. A company which used to manufacture hydrogenated oil has changed to one that manufactures micro-computers under him. The revenue of the company is $9billion.
3. HINDUJA FAMILY
With a net worth of $18.4 billion this conglomerate company that is run by the four brothers Srichand, Gopichand, Prakash and Ashok cover a wide range of activities that include defense, banking and a lot more. Srichand and Gopichand who checks over the export businesses while staying in London have made it to the top of the Sunday Times Rich List 2017.
4. LAKSHMI MITTAL (Chairman and CEO, ArcelorMittal(ADR)
Separating out with his siblings to start Mittal steel, he later merged his company with Arcelor in 2006 to form the world’s largest steel producer ArcelorMittal. Mittal owns 38% stake in ArcelorMittal. He was named by Time magazine as the “International Newsmaker of the Year 2006”.
5. PALLONJI MISTRY
With the 18.4% stake in Tata Sons which was bought by his father in the 1930s, this construction giant is the largest shareholder in Tata Group which is India’s largest private conglomerate. He owns the construction company Shapoorji Pallonji, a company known for the landmarks built in Mumbai. The Indian born Irish businessman is also a Padma Bhushan awardee for his significant contributions in trade and industries.
The Parsi family whose net worth is about $14.2 billion controls the consumer goods giants Godrej Group. The conglomerate group which was established way back in 1897 starting with developing and selling locks now generates$4.6 billion in revenue. The family’s assets include a 3.5K acre estate in Mumbai.
7. SHIV NADAR
It won’t come as a surprise that the founder and chairman of HCL find a place in this list. Starting his career at Cooper Engineering in Pune, he soon left it to start a venture on his own. HCL technologies, founded in 1976 employs around 120K people around the globe. His focus in education resulted in the foundation of SSN College of Engineering in Chennai. He also has been honored with the Padma Bhushan for his contributions in IT industry.
8. KUMAR BIRLA
The present chairman of the Aditya Birla group, Kumar Birla took over the company following his father’s death in 1995 and has expanded the group’s turnover to $43 billion by the year 2015. The group’s major interests lies in metals, cement, chemicals, telecom and IT services.
9. DHILIP SHANGHVI AND FAMILY
The Sun Pharmaceuticals founder ranks 8th in India Today’s “India’s 50 most powerful people of 2017” list. He started the company in 1983 to make psychiatric drugs. Sun became the largest drug company in India when they bought Ranbaxy laboratories in 2014.
10.GAUTAM ADANI AND FAMILY
Gautam Adani, the chairman and founder of Adani Group controls India’s largest port, Mundra port which handles around 200+ million tons of cargo every year. The main focus of the group is on power generation and real estates. The group also plans to make an impact in the defense and has joined with the Swedish firm Saab to help India with the Gripen fighter jets.