Forbes India Rich List 2018: Mukesh Ambani bags top slot with net worth of 47.3 billion dollars
New Delhi, Oct 4: Reliance Industries' Chairman Mukesh Ambani has once again emerged as the richest Indian for the 11th consecutive year with a net worth of USD 47.3 billion.
As per the 'Forbes India Rich List 2018', Wipro Chairman Azim Premji has retained the second spot, adding USD 2 billion to his wealth at USD 21 billion. While ArcelorMittal Chairman and CEO Lakshmi Mittal moved a place ahead to the third slot with a net worth of USD 18.3 billion, increasing his wealth by USD 1.8 billion.
Mittal is followed by the Hinduja brothers at with a net worth of USD 18 billion and Pallonji Mistry with USD 15.7 billion.
Biotechnology pioneer Kiran Mazumdar-Shaw has emerged as the biggest percentage gainer of the year.
Among the five new faces are Krishna Kumar Bangur, who controls Graphite India, which is benefiting from acute demand from the steel sector for its graphite electrodes; and south Indian infrastructure magnate P.P. Reddy of Megha Engineering & Infrastructure.
This list was compiled using shareholding and financial information obtained from the 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 Godrej and Bajaj families. Public fortunes were calculated based on stock prices and exchange rates as of September 21. Private companies were valued based on similar companies that are publicly traded.