Forbes Top 100 Richest Indians: Mukesh Ambani has once again secured the top spot on the 2023 Forbes ranking of India’s 100 wealthiest individuals. The combined wealth of the country’s top 100 richest people remained unchanged at $799 billion this year. The India list also witnessed three new names from different industries.
Also Read: Forbes India Richest 2023: Mukesh Ambani Tops The List, Gautam Adani At Second Spot; Full List
Forbes Top 100 Richest Indians: New Entrants
This year, three newcomers join the list, with Renuka Jagtiani, the chairwoman of Landmark Group, a retailing giant headquartered in Dubai, making her debut at number 44 with a fortune of $4.8 billion. This follows the unfortunate passing of her husband, Micky Jagtiani, in May.
The Dani family, heirs to the late patriarch Ashwin Dani of Asian Paints, makes their inaugural appearance on the list at number 22 with a total wealth of $8 billion.
The third addition to the list is K.P. Ramasamy, founder and chairman of K.P.R. Mill, a garment exporter. He secures the 100th position with a wealth of $2.3 billion.
The top 10 richest in India are:
1) Mukesh Ambani; US$92 billion
2) Gautam Adani; $68 billion
3) Shiv Nadar: $29.3 billion
4) Savitri Jindal; $24 billion
5) Radhakishan Damani; $23 billion
6) Cyrus Poonawalla; $20.7 billion
7) Hinduja Family; $20 billion
8) Dilip Shanghvi; $19 billion
9) Kumar Birla; $17.5 billion
10) Shapoor Mistry & Family; $16.9 billion
Moreover, among the seven returnees this year is Ranjan Pai (number 86, $2.75 billion), who cashed out $1 billion from selling part of his stake in hospital chain Manipal Health Enterprises to Singapore’s Temasek.
Notable among the eight drop-offs are ed tech couple Byju Raveendran and Divya Gokulnath, whose firm Byju’s saw its valuation marked down drastically amid myriad challenges.
Naazneen Karmali, Asia Wealth Editor and India Editor, Forbes Asia, said, “India is riding high and is considered a hot spot by global investors. That buoyancy has made the elite club of India’s 100 Richest even more exclusive this year, with the minimum net worth to make the cutoff rising to a record $2.3 billion.”
According to Forbes, the biggest percentage gainer this year is Inder Jaisinghani at number 32 with $6.4 billion. His family’s net worth nearly doubled as his wires and cables company, Polycab India, benefited from increasing electrification.
Pharma brothers Ramesh and Rajeev Juneja got a 64% boost from the May listing of their Mankind Pharma, bringing them to number 29 with $6.9 billion. The Juneja siblings also appear on the cover of the October issue of Forbes Asia.
This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and India’s regulatory agencies.
The ranking lists family fortunes, including those shared among extended families such as the Bajaj and Godrej families.
Public fortunes were calculated based on stock prices and exchange rates as of September 22. Private companies were valued based on similar companies that are publicly traded.
The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don’t reside in the country but have significant business or other ties to the country.
Disclosure: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited.
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