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Mukesh Ambani Richest Indian, Anil Biggest Loser

Thursday, 27 October 2011, 04:28 Hrs   |    13 Comments
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 Mukesh Ambani Richest Indian, Anil Biggest Loser
Delhi: Mukesh Ambani, who heads the oil-to-retail conglomerate Reliance Industries Group, has retained his position as the world's richest Indian with a net worth of $22.6 billion, as per the Forbes India annual rich list.

Despite a fall of $4.4 billion in his net worth over the past one year, Ambani managed to hold the top slot.

He is followed by steel tycoon Lakshmi Mittal and technology czar Azim Premji, as per the list published on Thursday by the Indian edition of global business magazine Forbes.

Mittal was ranked second with a net worth of $19.2 billion, while Premji was at the third position with $13 billion of net worth, Forbes said.

The 100 richest persons in the country together saw their net worth falling by 20 per cent in one year, to $241 billion, as inflation, corruption scandals and falling stock and currency prices diminished their wealth.

The list comprises 57 billionaires, a dozen less than the last year.

Forbes said that Mukesh's younger brother Anil Ambani saw the biggest erosion in his wealth in absolute terms, while power producer Lanco Infratech's Madhusudan Raw was the biggest loser in percentage terms as his net worth fell by 78 per cent during the past one year.

Anil Ambani's net worth declined by $7.4 billion to $5.9 billion and he "slipped out of the top 10 for the first time since his 2004 debut". He was ranked 13th in this year's list.

In the top-five, Mukesh Ambani, Lakshmi Mittal and Azim Premji were followed by Essar group's Shashi and Ravi Rua ($10.2 billion at 4th position) and Savitri Jindal ($9.5 billion at 5th).

Others in the top 10 include Sunil Mittal ($8.8 billion at 6th position), Gautam Adani ($ 8.2 billion, 7th), Kumar Mangalam Birla ($7.7 billion, 8th), Pallonji Mistry ($7.6 billion, 9th) and Adi Godrej ($6.8 billion, 10th).

This year's list included 14 new faces and the richest debutante was the founder and CEO of the London-listed oil and gas firm Indus Gas -- Ajay Kalsi, at the 38th position with a net worth of $1.39 billion.

Father-son duo Kapil and Rahul Bhatia of travel group, InterGlobe Enterprises, made their debut at position 51, with a net worth of $1.09 billion after their budget carrier IndiGo became India's third-largest and most profitable airline.

Also debuting on the list was V G Siddhartha, ranked 84th with a net worth of $595 million, and founder of coffee shop retail chain Cafe Coffee Day.

Naazneen Karmali, India Editor of Forbes Asia, said: "This has been a turbulent year for India?s richest. Despite the economy growing at close to 8 percent, a spate of corruption scandals and rising inflation have taken a toll."

Indrajit Gupta, Editor of Forbes India, said: "Even though it's been another tough year for the wealthiest Indian entrepreneurs on the 2011 India Rich List, the fact that there are as many as 14 new entrants is a clear pointer to the exciting and diverse business opportunities in this part of the world."

The magazine said that the net worth of persons on the list are based on share prices and exchange rates as on October 12 and privately held companies were valued on the basis of their comparison with similar publicly traded firms.

The net worth figures of individuals also include family fortunes, it added.
Source: PTI
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Reader's comments(13)
1: ill gotten wealth never sustains anyone for long
Posted by:andeeluv - 31 Oct, 2011
2: no body is bother about that only metro people can show interest on that.All are true selfish peoples.if any one shown interest in sports for developing the country corporates is very much keen on that F1 and 20-20 only except mittal he has shown interest on hockey once up on a time.
Posted by:muralikrishnan - 29 Oct, 2011
3: What about Ratan Tata ? Which position he holds ?
Posted by:Sukanta Kumar - 29 Oct, 2011
Ratan Tata doesn't figure in the list of 55 billionaires in India, so his net worth has to be less than USD 1 Billion.
This list had 55 people and not 57 as mentioned.
amit singh Replied to: Sukanta Kumar - 01 Nov, 2011
5: Rich people getting richer day by day and poor more poorer.
Posted by:manish - 29 Oct, 2011
6: itz easy to say that they are corrupted or they are thieves.but they were also like common people when they started there buissness of them and after years they are at this position so instead of critizing encourage them as lakhs of people are working under them and directly or indirectly u are using there services so they might be wrng for some reason but they are not fully wrong otherwise they would never ever be in this position.
Posted by:ali - 28 Oct, 2011
7: Its Greta that siliconindia posting Such News, But I request you start a Concept for the Needy and Helpless people of India. The poorest man, you will names in Millions.
The top 500 poorest in India.
Posted by:Sultan Shaikh - 28 Oct, 2011
8: Mukesh ambani richest and anil biggest loser? wts this title....
Posted by:Indian - 28 Oct, 2011
9: Ambani familily is the master of correption in india. Mukesh thefting the andhra pradesh wealth by taking KG basin gas with the help of Sonia gandhi. Both together destroying the AP politically and financillay.
Posted by:krishna - 27 Oct, 2011
Posted by:SATEJ GOA - 27 Oct, 2011
11: Dear Sir
Please desist from publishing any political news which does not affect the common man.Criticising the richest person of India is not in good taste.Bringing everything under the corruption umbrella is not desired.However do not forget we are some of the largest producers of wealth which boils down to our having a higher standard of living.creation and distribution of wealth to reach the most deprived section of the society is another matter.Our government is doing its utmost for bringing up the down trodden.the figures spent are mind blowing.if even 60% of this wealth distribution boils down to the common man no person in India would be underfed or go to sleep hungry.Every NGO which gets the government grant is answerable the way it is ditributed to benefit the under privileged.
Look at what the mobile telephony has done to india.We are kept informed about all the goings on and people tend to be accountable for all their actions according to the law.
So much for now
Posted by:pratap - 27 Oct, 2011
12: I think Silicon india should watch titles for the articles they publish. It could be more polished.
Posted by:Sai - 27 Oct, 2011
Posted by:Agni - 27 Oct, 2011
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