Forbes: Mukesh Ambani richest Indian, Anil's ship sinks

Mumbai, Oct 27: Mukesh Ambani, head, Reliance Industries has been named as one of the richest Indians, while his brother Anil Ambani has slipped down, said the

Mukesh's company Reliance maintained its top position with a value of $22.6 billion, despite the company's net worth dropping by $4.4 billion. Meanwhile Anil Ambani's net worth stood at $5.9 billion, down from $13.3 billion.

A major setback for Anil Ambani's company has been Reliance Communications, which has $7.5 billion debt and have failed to raise money to ease debt.

The Forbes India Rich List also revealed that the wealth of India's richest 100 people fell to $241 billion in the year 2011.

"This has been a turbulent year for India's richest," Naazneen Karmali, India Editor of Forbes Asia, said in a statement.

"Despite the economy growing at close to 8 percent, a spate of corruption scandals and rising inflation have taken a toll," said Nazneen.

OneIndia News