#TrendingToday: Forbes India released "rich list" of 2019, Mukesh Ambani tops for 12th year in a row


SUKIRTI MISHRA 12/10/2019 13:08:47
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Reliance Industries chairman Mukesh Ambani added $4.1 billion to his net worth owing largely to the success of Jio, the three-year-old telecom unit which became one of India’s biggest mobile carriers

 

New Delhi. Forbes have recently released the list of 100 Richest Indians of 2019. The list was composed using shareholding and financial information received from the stock exchanges, analysts, families and individuals and regulatory agencies. Mukesh Ambani, notably, has topped the list yet again and has maintained the slot of being the richest Indian for the 12th year in a row. 

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It may be noted that the ranking lists family fortunes, including those shared among extended families like the Godrej and Bajaj families. Public fortunes were calculated based on stock prices and exchange rates as of September 27, 2019. According to Forbes, in a year that saw an overall decline for listees, some individuals scored up big gains. 

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►Mukesh Amani racks up $4.1 billion to net worth-

Reliance Industries Chairman Mukesh Ambani racked up $4.1 billion to his net worth, owing massively to the success of Jio- the 3 year old telecom unit, which has become one of the biggest mobile carriers with 340 million subscribers. Ambani maintained his number one spot with a total net worth of $51.4 billion. 

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►Gautam Adani keeps the number 2 slot-

Adani Group founder and Chairman Gautam Adani followed Ambani at number 2 spot. The spot earlier belonged to Wipro founder Azim Premji who lost it and was ranked 17th after his decision to give away a huge chunk of his money to philanthropy. Gautam Adani jumped 8 spots to No. 2 with a net worth of $15.7 billion. The infrastructure tycoon has also sauntered into a slew of new businesses from airports to data centres. 

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►6 new debutants assured their spots in Forbes-

The list has 6 new debutants viz, Byju's Founder and CEO, Byju Raveendran at 72nd spot with a net worth of $1.91 billion. Manohar Lal and Madhusudan Agarwal of Haldiram Snacks at 86 spot with net worth of $1.7 billion. Rajesh Mehra of Jaquar debuted at number 95 with $1.5 billion net worth and Sandeep Engineer of Astral Poly Technik with $1.45 billion net worth. 

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►Challenging year for nation's wealthies: Forbes

Forbes stated 2019 as a "challenging year for the nation's wealthies" due to economic slowdown. An 8% fall in the total wealth of the tycoons on the 2019 list, amounting to $452 billion, was observed. Economic growth also slowed to 5%, a 6 year low. Slump in consumer demand led to sectors like automobiles and consumer goods declaring layoffs and production cuts. Autoparts maker Vivek Chaand Sehgal's net worth more than halved to $2.45 billion due to drastic slowdown in the automobile industry.

 

 

 

 

 

 

 

 

 

 

 

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