On April 5, 2022; Forbes released its new list of India’s Billionaires. Despite the COVID-19 Pandemic wreaking havoc on the everyday Indians, there were a few who managed to grow their wealth significantly during this time. The country has seen an 18.5% growth in the number of billionaires, according to Forbes, in the year 2021 to 22. Gautam Adani has moved up to number 2 and Azim Premji has moved down from Number 2 to Number 17. The drop in Azim Premji’s rank is due to his philanthropy activity.
The most noteworthy list of richest men in India is the Forbes rich list. Interestingly, four Indians featured in the top 100 Forbes World’s Billionaire list. They are Mukesh Ambani, Azim Premji, Shiv Nadar and Lakshmi Mittal. Overall, 106 Indians featured in the Forbes list. In the top 10 list of richest persons in India, women’s name was missing. That’s why the title of the article is “10 Richest Men in India 2019”.
So, here we go with the Top 10 Richest Indians in 2022:
Please click Next to know the names
1. Mukesh Ambani
Ladies and Gentlemen, Presenting The Richest Man in India – Mr. Mukesh Ambani, The Chairman of Reliance Group. Mr. Mukesh Ambani, continues to be the richest Indian billionaire on the Forbes list. He has an estimated net worth of US$90 billion. In 2021, he was ranked 10 in the Forbes World’s Billionaire list. However, in 2019 his rank jumped six places to 13th spot.
Mr. Mukesh Ambani is the Chairman of the oil and gas giant Reliance Industries (RIL), which has a revenue of US$60 billion. RIL’s subsidiary Reliance Jio Infocomm Limited sparked a price war in the hyper-competitive telecom market in India, by launching 4G phone service Jio in 2016. They offer free domestic voice calls, highly affordable 4G data services, and smartphones that are virtually free in nature. This strategy has helped the company reportedly sign up 428 million customers and they are still counting.
2. Gautam Adani
Gautam Adani is one of the fastest rising billionaires in India. He is known for being close to the political bigwigs. His net worth is US$ 90 billion and he is the 2nd richest Indian. On the world’s richest list, he holds 11th rank. Gautam Adani is the Chairman of Adani Group, a US$100 billion conglomerate that includes power generation and transmission, commodities market, real estate, control over India’s largest port – Mundra Port, and many more.
3. Shiv Nadar
He is the co-founder of HCL Technologies and has a net worth of US$ 28.7 billion. In the 2019 Forbes World’s Billionaire’s list, Shiv Nadar holds 47 rank. Nadar is the chairman of HCL, the 4th largest software services provider of India whose revenue is US$11.2 billion. Shiv Nadar is a philanthropist and leads Shiv Nadar Foundation that backs causes related to education.
4. Cyrus Poonawalla
Cyrus Poonawalla is the founder of Serum Institute of India, which is one of the largest manufacturers of vaccine in the world. Serum Institute of India reportedly produces 1.5 billion vaccine doses (including flu, polio, and measles) on an annual basis. This success has catapulted Cyrus Poonawalla’s net worth to US$24.3 billion, making him the fourth richest Indian. His 2022 ranking on Forbes World’s Billionaire’s list is 56.
5. Radhakishan Damani
The 5th position in the list of richest men in India is investor Radhakishan Damani. He has a net worth of US$ 20 billion and rank 78 in the Forbes World’s Billionaire’s list 2022.
Damani is a renowned Mumbai investor who holds stakes in wide array of companies including Radisson Blu Resort in Alibaug, VST industries (tobacco company), United Breweries (beer maker), and many more.
6. Lakshmi Mittal
Lakshmi Mittal, a world renowned steel magnate, is the fourth richest man in India, who has a net worth of US$17.9 billion. He currently holds 89th rank in the Forbes World’s Billionaire’s list. Mittal shot to prominence after his company Mittal Steels merged with Arcelor (of France) in 2006 to form the biggest steelmaker of the world, ArcelorMittal. This venture is headed by Lakshmi Mittal.
In 2018, the company reported a net profit of $5.1 billion (a double digit growth) on a revenue of US$76 billion. ArcelorMittal is continuing its consolidation strategy by acquiring Italy’s loss-making steel group Ilva at $2.1 billion and making a successful bid of US$5.9 billion for bankrupt Essar Steel (which the creditors of Essar have accepted, as per reports).
7. Kumar Birla
Kumar Mangalam Birla led Aditya Birla Group has a revenue of US$44.3 billion, with operations in 14 industry sectors. The conglomerate owns brands like Allen Solly, Van Heusen, Pantaloons and Ultra Tech cement. The group also successfully completed the Idea Cellular-Vodafone India merger in August 2018, creating the largest telecom company of India.
Kumar Mangalam Birla is 7th position in the list of richest men in India is shared by the Chairman of Aditya Birla Group, Kumar Mangalam Birla, and have net worth of US$ 16.5 billion and rank 106 in the Forbes World’s Billionaire’s list 2022.
8. Dilip Shangvi
Dilip Shanghvi is the founder of Sun Pharma, 4th largest specialty generic drug maker. His net worth is US$15.6 billion and he is the 115th richest person in the world. The 8th richest man in India owns the most valuable pharmaceutical company in India whose March 2021 revenue was US$4.5 billion.
9. Pallonji Mistry
The Shapoorji Pallonji Group is 10th on India’s richest men, and controls the construction giant which is headquartered in Mumbai. He is currently 9th Richest India and 125th richest person in the World, with a net worth of US $15.7 Billion. The SPG group is a well diversified group with 18 major companies under its name.
10. Uday Kotak
Uday Kotak is the executive vice-chairman as well as the managing director of Kotak Mahindra Bank whose net worth is US $14.3 billion. He’s currently the 129th richest person in the world and 10th richest Indian. Riding on the acquisition of ING Bank’s Indian operations in 2014, Kotak Mahindra Bank now ranks among the top 4 private sector banks in India. After launching their 811 digital banking app (that offered zero-balance accounts) in March 2017, Kotak Mahindra Bank’s customer base has increased to 16 million.