Finally, Forbes has revealed the much-awaited list of the Top 100 Richest Indians for 2022.?
Forbes mentioned that, on the one hand, India¡¯s post-pandemic demand revival powered its economy to become the fifth-largest in the world, surpassing the U.K. On the other hand, the stock market has been down marginally from a year ago, with the biggest dampener being the weakening Rupee, which fell 10% over the same period. Despite this, the combined wealth of India¡¯s 100 richest grew by $25 billion to touch $800 billion.
This year saw Adani group's Chairman Gautam Adani top the list by doubling his net worth this year to $150 billion. Reliance's?Mukesh Ambani, who held the top spot since 2013, ranks second on the list with a net worth of $88 billion, down from $92.7 billion last year.?
The top 10 spots on this year¡¯s list have had some shuffle. As per Forbes, Savitri Jindal and family have moved up a spot to rank 6 ($16.4 billion). Dilip Shanghvi and family (No. 7, $15.5 billion) Hinduja Brothers (No. 8, $15.2 billion) and the Bajaj family (No. 10, $14.6 billion) have entered the Top-10 club. Also, Uday Kotak, CEO of Kotak Mahindra Bank,?who was ranked 8th last year,?is now at rank 12 ($14.3 billion).
Without further ado, let's reveal the top 10 wealthiest Indians as per Forbes' top 100 rich list of India for 2022:
1.?Gautam Adani & family-?$150 Billion
2. Mukesh Ambani-$88 Billion
3. Radhakishan Damani & family-$27.6 Billion
4.?Cyrus Poonawalla-$21.5 Billion
5. Shiv Nadar-$21.4 Billion
6. Savitri Jindal & family-$16.4 Billion
7. Dilip Shanghvi & family-$15.5 Billion
8. Hinduja brothers-$15.2 Billion
9. Kumar Birla-$15 Billion
10. Bajaj Family-$14.6 Billion
You can check the complete list here.
Nykaa¡¯s CEO Falguni Nayar is amongst the three new faces this year in the list which entered thanks to their companies¡¯ IPOs. Falguni Nayar (ranked 44 with a net worth of $4.08 billion) is a former banker who became India¡¯s richest self-made woman after listing her beauty and fashion retailer Nykaa last year. Other two new entrants in the list after their IPO roll outs are ethnic garments retailer Ravi Modi (ranked 50 with a net worth of $3.75 billion), and shoemaker Rafique Malik (ranked 89 with a net worth $2.22 billion) who listed Metro Brands in December 2021.
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Some of the prominent personalities in this list who passed away this year, are: ?Rahul Bajaj, the ailing patriarch of the Bajaj family (No. 10, $14.6 billion); Rakesh Jhunjhunwala, often referred to as India¡¯s Warren Buffet, who died shortly after launching his new airline Akasa Air in August and whose wife, Rekha Jhunjhunwala (No. 30, $5.9 billion) takes his place on the list; and construction magnate Pallonji Mistry, whose death in June was followed by that of his son 54-year-old son Cyrus Mistry in a fatal car crash in September, leaving the patriarch¡¯s older son Shapoor Mistry (No.13) at the helm of the family¡¯s $14.2 billion fortune.
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As per Forbes, the minimum amount required to make it to this year¡¯s list was $1.9 billion, close to last year¡¯s $1.94 billion.
This list was compiled using shareholding and financial information obtained from families and individuals, stock exchanges, analysts and India¡¯s regulatory agencies. The ranking lists family fortunes, including those shared among extended families such as the Bajaj and Godrej families.?
Public fortunes were calculated based on stock prices and exchange rates as on?September 23, 2022. Private companies were valued based on similar companies that are publicly traded. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don¡¯t reside in the country but have significant business or other ties to the country.
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