Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,086.70114.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Mukesh Ambani breaks into top 10 on Hurun rich list as brother Anil, with $1.9 bn, fights bankruptcy

Jeff Bezos tops the list for the second consecutive year with a net worth of USD 147 billion.

PTI|
Updated: Feb 27, 2019, 11.46 AM IST
0Comments
Agencies
Untitled-6
Mukesh Ambani became the first Indian to break into the global top 10.
MUMBAI: Reliance Industries chairman Mukesh Ambani has broken into the top 10 richest list globally with a net worth of USD 54 billion, while his younger brother Anil has paled into the oblivion having lost over 65 per cent of his net worth, according to a report.

The Hurun Global Rich List 2019 is topped by Amazon chief Jeff Bezos for the second year in a row, while the senior Ambani is placed 8th, thanks to a rally in RIL shares, which had topped the Rs 8-lakh-crore-mark last month. Ambani owns almost 52 per cent in Reliance.


Anil Ambani, held in contempt of court by the Supreme Court last week for not paying up Ericsson Rs 540 crore, has lost over USD 5 billion, from USD 7 billion seven years ago to USD 1.9 billion this year, even though both the brothers got off with more or less same amount of inherited wealth.

"Having started off similarly after the break-up of the family wealth, Mukesh added USD 30 billion to his wealth in the past seven years, while Anil has lost over USD 5 billion during the same period," says the Hurun report.

The other wealthiest Indians are Hinduja group chairman SP Hinduja with net worth of USD 21 billion, Wipro chairman Azim Premji is at third with a net worth of USD 17 billion, says the report released Tuesday.

Cyrus S Poonawalla, chairman of the Poonawalla group that run Serum Institute, with a networth of USD 13 billion is not only ranked as the fourth richest Indian but also breaks into the top 100 global ranking.

cyrus-poonawalla
Cyrus S Poonawalla is ranked the fourth richest Indian.

Steel giant ArcelorMittal's Lakshmi Mittal stands at fifth position, followed by Kotak Mahindra's Uday Kotak (USD 11 billion), Gautam Adani (USD 9.9 billion) and Sun Pharma's Dilip Shanghvi (USD 9.5 billion).

Cyrus Pallonji Mistry and Shapoorji Pallonji Mistry, both with wealth of USD 9.5 billion each come in the ninth and the 10th position, respectively, thanks to their 18.4 percent holding in the country's largest conglomerate Tata group.

According to the list, Smita Crishna, a third- generation heir of the Godrej family, tops the female billionaire list with a networth of USD 6.1 billion, while Kiran Mazumdar-Shaw of Biocon is the richest self-made female entrepreneur ranked 671 with a wealth of USD 3.5 billion.

ET's-dualpane---2019-02-27T
Kiran Mazumdar-Shaw (L) and Smita Crishna (R).

"Since 2012, this is for that first time that India has slipped to the fifth rank in the Hurun Global Rich List. An under-performing rupee and a lackluster stock market resulted in the country losing one-third of the list," Hurun Report India managing director and chief researcher Anas Rahman Junaid said.

Money And Passion: What Bill Gates, Mukesh Ambani And Other Billionaires Spend On

of 6
Next
Prev
Play Slideshow

What Big Money Buys

13 Mar, 2018
Billionaire Bill Gates revealed his two biggest indulgences in a talk show recently – a Porsche and a private plane. A look at other billionaires and their big money buys:
Next

The report also points out that media billionaires had a bad year, led by Zee's Subhash Chandra and Sun TV's Kalanithi Maran who lost their net worth substantially.

Bezos of Amazon tops the list for the second consecutive year with net worth of USD 147 billion, which may not hold for long as he is divorcing his wife who owns half of his 16 per cent in the world's largest online retailer.

As per the report, the number of individuals featured in the 2019 edition has come down by 224 to 2,470 from 2,694 in 2018.

The cumulative wealth of these 2,470 individuals stood at USD 9.5 trillion amounting to 12 percent of global GDP.

With a wealth of USD 96 billion, Microsoft founder Bill Gates ranks second in the global list followed by Warren Buffet, chairman of Berkshire Hathaway with net worth of USD 88 billion, LVMH's Bernard Arnault at USD 86 billion at the fourth slot.

Facebook's Mark Zuckerberg with net worth of USD 80 billion is at the fifth position.

Girls Inc! The World's 5 Richest Women Control $157 Billion

of 4
Next
Prev
Play Slideshow

Alice Walton - $37.9b

23 Sep, 2017
The second-richest female in the world is Alice Walton. The only daughter of Wal-Mart founder Sam Walton, Alice has not taken an active role in the family business but is the wealthiest woman in America, primarily thanks to her share of Wal-Mart stock and hefty dividends payments. She is one of four Walton women in the ranks. The others are her sister-in-law Christy Walton, the widow of her brother John, and her cousins, Anne Walter Kroenke and Nancy Walton Laurie. (Image: Pinterest) (Source: Bloomberg Billionaires Index)
Next

Want stories like this in your inbox? Sign up for the daily ET Panache newsletter.

You can also follow us on Facebook, Twitter and LinkedIn.

Also Read

View: SBI's card unit's IPO reflects the Mukesh Ambani factor

Mukesh Ambani richest Indian for eighth straight year

Mukesh Ambani to invest in Madhya Pradesh

Sony in talks to buy stake in Mukesh Ambani's TV network

Mukesh Ambani advises fellow telecom billionaires how to raise money

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Popular Categories


Other useful Links


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service