Mukesh Ambani retains top slot on Forbes Rich List

New Delhi: A soaring stock market propelled the combined wealth of members of the 2021 Forbes list of India’s 100 Richest to a record US$775 billion, after adding $257 billion — a 50 percent rise — in the past 12 months.

At the top of the list is Mukesh Ambani, India’s richest person since 2008, with a net worth of $92.7 billion.

Close to a fifth of the increase in the collective wealth of India’s 100 richest came from infrastructure tycoon Gautam Adani, who ranks No. 2 for the third year in a row. Adani, who is the biggest gainer in both percentage and dollar terms, nearly tripled his fortune to $74.8 billion from $25.2 billion previously, as shares of all his listed companies soared.

At No. 3 with $31 billion is Shiv Nadar, founder of software giant HCL Technologies, who saw a $10.6 billion boost in his net worth from the country’s buoyant tech sector.

Retailing magnate Radhakishan Damani retained the fourth spot with his net worth nearly doubling to $29.4 billion from $15.4 billion, as his supermarket chain Avenue Supermarts opened 22 new stores in the fiscal year ending March.

India has administered over 870 million Covid-19 vaccine shots to date, thanks partly to Serum Institute of India, founded by vaccine billionaire Cyrus Poonawalla, who moves into the top five with a net worth of $19 billion. His privately held company makes Covishield under license from AstraZeneca and has other Covid-19 vaccines under development.

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