The coronavirus pandemic and its economic fallout spared none, not even India's billionaires whose collective fortunes took a beating. The total wealth of Indian billionaires had shrunk by around 23 percent to roughly $313 billion, as of March 2020.
As per data collected by Forbes India, there were 102 billionaires in India as against the 106 last year. Among all, it was retailer and business tycoon Radhakishan Damani, owner of the DMart chain, who saw his net worth rise by almost a quarter during this period.
Most of the country's billionaires are based in Mumbai or Delhi. Reliance Industries' Chairman Mukesh Ambani held onto the top spot as the country's richest man with a net worth of around $37 billion. At the second and third spots were Damani and HCL technologies' founder and chairman Shiv Nadar.
(This story was first published by Forbes India)
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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