11 Indian Entrepreneurs Debut in World's Richest People List 2012


Ranjan Pai

Rank: 63

Total assets: $975 million

Source of Income: Education and HealthCare

Ranjan Pai is the head of Manipal Education and Medical Group. Six colleges and fifteen hospitals operate under this name. His grandfather had started the business in Manipal, Karnataka by opening India’s first private school in 1953. His father took over the business in 1978. Pai quit his U.S. job in medicines at the age of 28 and took over family’s medical school project in Malaysia. The project succeeded and Pai has hence turned Manipal into a global brand in education by his continued efforts.

Jitendra Virwani

Rank: 66

Total assets: $910 million

Source of Income: Real Estate

Jitendra started in his father’s construction business and in 1993, set up Dynasty Developers with help from friends. Dynasty Developers was later renamed as Embassy Property Developments, which has built many tech parks and office building in Bangalore for domestic and multinational firms.  Embassy property Developments sold 49 percent stake in its commercial property portfolio to private equity firm Blackstone for $200 million in July this year.