Here are India’s 10 richest people 2020:
NET WORTH: $36.8 BILLION
SOURCE OF WEALTH: PETROCHEMICALS, OIL & GAS
In richest people the first name is Mukesh Ambani who’s net worth is $36.8 BILLION
- Mukesh Ambani runs 88 billion (revenue) oil and gas giant Reliance Industries out of India’s most valuable companies.
- Reliance was founded by Mukesh Ambani late father Dhirubhai Ambani, Who was a cotton trader in 1966 as a small textile manufacturer.
- After the death of Mukesh Ambani’s father in 2002, Mukesh Ambani and his younger brother Anil divided the family empire.
- In 2016, Reliance sparked a price war in India’s hyper-competitive telecom market with the launch of 4G phone service Jio. Mukesh Ambani
- Jio has signed up more than 340 million customers to free domestic voice calls, Dirt-cheap data services, and virtually free smartphones.
NET WORTH: $13.8 BILLION
SOURCE OF WEALTH: RETAIL, INVESTMENTS
- In Richest people second no is Radhakishan Damani
- Veteran Mumbai investor Radhakishan Dasani became India’s retail king after the IPO of his supermarket chain DMart in March 2017.
- Dasani joined the retailing from a store in suburban Mumbai in 2002 and has been unstoppable since then.
- From Dasani tobacco firm VST Industries to beer-making company United Breweries, many companies wager.
- His property portfolio includes the 156-room Radisson Blue Resort at Alibagh, located in front of a beach near Mumbai.
NET WORTH: $11.9 BILLION
SOURCE OF WEALTH: SOFTWARE SERVICES
- In the 3rd no of Richest people
- Indian IT pioneer Shiv Nadar cofounded HCL in a garage in 1976 to build a calculator and microprocessor.
- Today, he chairs HCL Technologies, a $ 9.7 billion (revenue) company, one of India’s largest software service providers.
- In December 2018, HCL Technologies agreed to purchase some software products from IBM for $ 1.8 billion.
- HCL Technologies, which employs 149,000 people in 45 countries around the world, rents and hires high school graves.
- One of India’s leading philanthropists, Nadar has donated $ 662 million to its Shiv Nadar Foundation, which supports education-related causes.
NET WORTH: $10.4 BILLION
SOURCE OF WEALTH: BANKING
- To grow his family business business,. Uday Kotak started a finance firm in 1985 and then converted it into a bank in 2003.
- His Kotak Mahindra Bank ranks among the top four banks in India in the private sector,. Boosted by the 2014 acquisition of ING Bank’s Indian operations.
- The name of Kotak’s 811 app came from 8 November 2016, when the government canceled. 86% of all rupees in circulation.
- In January 2020, the bank entered into an agreement with the. Reserve Bank of India on the issue of reducing Kotak’s stake in the bank to 26%.
NET WORTH: $8.9 BILLION
SOURCE OF WEALTH: COMMODITIES, PORTS
- Ports tycoon Gautam Adani controls India’s largest Mundra port in his home state of Gujarat.
- His $ 13 billion (revenue) Adani Group’s interests span commodities, power generation and transmission, real estate and defense.
- Adani owns Abbott Point, a controversial coal mining project in Australia,. Whose Carmichael coal mine is billedd as one of the world’s largest.
- In June 2019, Adani got permission to start work on the Australian coal mine after a 9-year wait.
- Adani has recently expanded into new ventures such as airports and data centers.
NET WORTH: $8.8 BILLION
SOURCE OF WEALTH: TELECOM
- Telecom Tycoon Sunil Mittal’s Bharti Airtel is one of India’s largest mobile phone operators with over 418 million subscribers.
- Airtel, which owns Singtel, is embroile in the cost of war with Mukesh Ambani’s Reliance Jio as its partner.
- Mittal owns Airtel Payments Bank in a joint venture with Kotak Mahindra Bank, controlled by fellow billionaire Uday Kotak.
- Mittal’s son Kavin runs the Softbank-backed messaging service Hike, which last valued at $ 1.5 billion.
NET WORTH: $8.2 BILLION
SOURCE OF WEALTH: VACCINES
- The son of a racehorse breeder, Cyrus Poonawalla founded the Serum Institute of India in. 1966 and made it one of the largest vaccine manufacturers in the world.
- Serum produces 1.5 billion doses annually for a range of vaccines, including measles, polio, and flu.
- His U.K.-educated son Adar is the CEO of Serum and helps him run the company. He has diversified into finance with Poonawala finance.
- The serum is owne by Dutch vaccine manufacturer Balthoven Biologicals and the Czech unit of the American firm Nanotherapeutics.
- The serum is co-developing two COVID-19 vaccines, one with the U.S firm CodeGenics and. The other with the Institut Pasteur in Paris and Austrian biotech firm Themis.
NET WORTH: $7.6 billion
SOURCE OF WEALTH: COMMODITIES
- Commodities King Kumar Birla, the fourth generation head of the $ 48.3 billion (revenue) Aditya Birla Group.
- The group’s interests span from cement and aluminum to telecommunications and financial services.
- Birla inherited the family empire at the age of 28 when his father Aditya Birla died in 1995.
- In October 2019, the European Commission approved. A $ 2.6 billion acquisition by Novelis of its aluminum manufacturer, Ellis, in Ohio.
- His telecom firm Vodafone Idea was form by the 2018 merger between his Idea Cellular and Vodafone India.
NET WORTH: $7.4 BILLION
SOURCE OF WEALTH: STEEL
- Lakshmi Mittal serves as the President and CEO of $ 70.6 billion (revenue), which is ArcelorMittal, the world’s largest steelmaker.
- Splitting from the Steel clan, he split from his siblings to start Mittal Steel and. Then merged the company with Arcelor of France in 2006.
- The company incurred a net loss of $ 2.5 billion in 2019. Due to lower steel prices and higher raw material costs.
- In 2019, Arcelor and Nippon Steel completed a $ 5.9 billion acquisition of Essar Steel,. Once controlled by billionaires Shashi and Ravi Ruia.
NET WORTH: $6.1 BILLION
SOURCE OF WEALTH: SOFTWARE SERVICES
- Indian tech magnate Azim Premji’s $ 8.4 billion (revenue) Wipro is India’s fourth largest outsourcer.
- Premji left school at Stanford in 1966 to take care of the family’s cooking oil business,. When his father died, expanding into software.
- Wipro has an innovation center in Silicon Valley, focused on developing new technologies and collaborating with startups.
- In July 2019, Premji’s son Rishad made his father the executive chairman of Wipro.
- In April 202, his Azim Premji Foundation promised $ 134 million to provide support for the COVID-19 epidemic.
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