Indian richies beat Chinese
Date: Wednesday , May 03, 2006
India’s rich are richer than China’s and have much higher net worth, Forbes magazine said in 2006. The collective net worth of the 40 richest Indians is $106 billion compared with China’s $26 billion. To make it to the list, an Indian has to have a net worth of $590 million while it is much less at $321 million in case of China. India has 27 billionaires compared with ten of China.
Non-resident Indian steel tycoon Lakshmi Mittal finds fifth place in the magazine’s list of the world’s richest with a net worth of more than $20 billion. There are eight Chinese who figure in the list, led by Larry Rong Zhijian, the head of the Citi Pacific conglomerate with a fortune of $1.7 billion. The richest Chinese was a Chinese-born Australian Shi Zhenrong, a solar power entrepreneur who debuts on this year’s list with $2.2 billion.
Whereas in the list of the 40 richest Indians Mittal leads, followed by Wipro’s Azim Premji with $11 billion. The Ambani brothers follow in the third and fourth slots with Mukesh worth $7 billion and Anil lagging behind at $5.5 billion.
The Forbes survey report says that seven newcomers have joined the list of 40 richest Indians, which includes debutant Naresh Goyal of Jet Airways (16) and Vikrant Bhargava (30) of PartyGaming.
Only two women are included in the wealth list; Indu Jain, “the matriach” of Bennet Coleman, India’s biggest and most powerful media house at 17 with $1.7 billion; and Kiran Mazumdar Shaw of Biocon at the 34th slot with $0.71 billion.