Forbes list names Mukesh Ambani as India’s richest for 11th straight year

Reliance Industries (RIL) Chairman Mukesh Ambani on October 4 was named India's wealthiest for the 11th consecutive year with a net worth of $47.3 billion, according to Forbes’ annual India's Richest 2018 list.

Wipro’s Azim Premji came second with a net worth of $21 billion. Lakshmi Mittal, Chairman and CEO of ArcelorMittal, followed with a net worth of $18.3 billion.

Hinduja brothers – Ashok, Gopichand, Prakash and Srichand – were ranked fourth on the list of richest Indians for 2018 with a net worth of $18 billion.

IN PICS | Forbes India Rich List 2018: Mukesh Ambani wealthiest, Azim Premji a distant second

Construction tycoon Pallonji Mistry, who controls the Shapoorji Pallonji Group, ranked fifth with a net worth of $15.7 million, followed by software giant HCL Technologies’ co-founder Shiv Nadar (net worth: $14.6 billion).

According to Forbes, the Godrej family, with a net worth of $18.4 billion, stood seventh while Sun Pharmaceutical Industries' Dilip Sanghvi ranked eighth (net worth: $12.6 billion).

Aditya Birla Group's Chairman Kumar Birla finished a close ninth with a net worth of $12.5 billion. Adani Group Chairman Gautam Adani was named India’s 10th richest person with a net worth of $11.9 billion.

Among the key gainers on the list this year were Paytm’s founder Vijay Shekhar Sharma. In August, billionaire investor Warren Buffett’s Berkshire Hathaway invested $300 million in Sharma’s firm taking Paytm’s valuation to $10 billion. This in turn took Sharma’s net worth to $2.15 billion.

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