Combined wealth of India’s 100 richest on Forbes list stands at $800 billion: report

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NNA |
Updated:
October 19, 2022 8:24 p.m. STI

Singapore, Oct 19th (ANI): The collective wealth of tycoons on Forbes 2022 list of India’s 100 richest has risen from $25 billion to $800 billion, according to Forbes Asia.
The Forbes statement released last week said a weaker rupee had an impact on the majority of the wealthiest, but this was offset by Gautam Adani’s record gain, which made him the new number one on the chart. listing.
The list can also be found in the October issue of Forbes Asia and the November issue of Forbes India. India’s post-pandemic demand boost propelled its economy to become the world’s fifth largest, overtaking the UK
“The increase in the collective net worth of the richest 100 is largely due to the rise of infrastructure magnate Gautam Adani, who changed the pecking order at the top for the first time since 2008. After nearly tripling his wealth in 2021, Adani doubled his net worth this year to $150 billion to become number one and also, for a time, the second richest person on the planet,” Forbes Asia said.

The biggest earner this year by percentage and dollars, Adani announced that he would invest $100 billion over the next decade, 70% of which in green energy, the statement added.
Mukesh Ambani, who controls telecom energy giant Reliance Industries, is number two with $88 billion, down 5% from a year ago. Between them, Adani and Ambani now account for 30% of the total wealth of India’s 100 richest.
The country’s retail king Radhakishan Damani, owner of supermarket chain DMart, entered the top three for the first time, although his net worth fell 6% to $27.6 billion.
Another year of windfall profits from Covid-19 vaccines propelled Indian vaccine baron Cyrus Poonawalla into fourth place with a fortune of $21.5 billion. Shiv Nadar of software giant HCL Technologies rounds out the top five with a net worth of $21.4 billion, down $9.6 billion from a year earlier.
Naazneen Karmali, Asia Wealth Editor and India Editor of Forbes Asia, said: “India’s post-pandemic recovery story is one of the opportunities created by a resurgence in domestic demand amid the challenges of factors external. Gautam Adani’s remarkable rise to the top spot and the addition of so many newcomers to the top 100 richest ranks this year epitomizes the entrepreneurial spirit of the country.” (ANI)

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