Hurun Report unveils World's Billionaires

India ranks No.5 on the global rich list with 89 billionaires
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Cochin - Kerala - India

COCHIN, India - Feb. 28, 2014 - PRLog -- ·        The cumulative worth of Indian billionaires is INR17,33,400 Cr.

·        Mukesh Ambani of Reliance Industries continues to be the richest Indian with a net worth of INR1,11,800Cr.

·        Savitri Jindal, 64 of Jindal Steel and Power is the richest woman in India.

·        Glenn Saldana of Glenmark Pharmaceuticals and Nirav Modi of Firestar International are the youngest Indian billionaires at 44.

India ranks #5 on the Global Rich List with 89 billionaires, of which 70 currently reside in India while the rest have migrated to other countries. The billionaire’s considered for the list includes those who currently reside in India or are of Indian origin. The cumulative worth of Indian billionaires is INR17,33,400 Cr. The average net worth of India’s richest is INR18,600 Cr;  INR6,200 Cr less than the global average. The preferred sectors are manufacturing, Pharma & TMT of which the sector that rewarded its investors the most was pharma which saw the billionaires invested in it increase their wealth by an average 25%. The average age of the India’s billionaires at 65 is one year older than the average age of the global billionaires. It is very interesting to note that 60% of India’s billionaires are self made.

"It is very interesting to note that more than 15% of Indian origin billionaires have migrated from India. However, a renewed culture of home grown entrepreneurship supported by a plausible corruption free government should create billionaires at a pace comparable to that of China", Anas Rahman Junaid, Publisher At Large, Hurun Report India

Mukesh Ambani continues his reign as the richest person in India with a net worth of INR1,11,800 Cr, despite going through a relatively bad year with Reliance Industries stock falling 5% ,combined with rupee depreciating. His wealth came down by INR18,600 Cr in comparison to last year. He dropped 14 positions in the Hurun Global Rich List coming down from #27 to #41.

Lakshmi N Mittal retains his number two position with a net worth of INR1,05,600 Cr. He slipped 13 positions and is currently the 49th richest person in the world. His stock in ArcelorMittaldropped 6% bringing down his wealth by INR6,200 Cr.Lakshmi Mittal is one of the few billionaires who is featured on the top three position of two separate country rich lists - UK and India. Though currently residing in UK, Mittal is of Indian origin therefore shows up as the second richest man in India as well.

Dilip Sanghvi of Sun Pharma had a good year with Sun Pharma stocks going up by 52%. His wealth saw an increase of INR31,100 Cr making him the third richest in India with a personal wealth of INR83,900 Cr along with Azim Premji of Wipro.

Savitri Jindal, 64 of Jindal Steel and Power is the richest woman in India with a net worth of INR32,900 Cr followed by Indu Jain of Bennett Coleman with INR14,300 Cr and Malika Srinivasan of Tafe, who is a new entrant to the list with a net worth of INR6,800 Cr, taking the number of Indian women in the Global Rich List to three.

Glenn Saldana (INR8,100 Cr,rank 1459) of Glenmark Pharmaceuticals at 44 years of age ties for the position of youngest Indian billionaire on the list with Nirav Modi(INR6,200 Cr, rank 1752) of Firestar International, a world famous name in the diamond jewellery industry.

Brijmohan Lall Munjal & Family of Hero MotoCorp is the oldest Indian billionaire at 91 years with a net worth of INR23,600 Cr ,ranking 437 in the world.

There are 25 notable newcomers to the list led by Rishad Nawroji of Godrej with a net worth of INR13,000 Cr, rank 901.

60% of India’s billionaires are self-made. Among the notables are Lakshmi N Mittal of ArcelorMittal, Shiv Nadar of HCL Technologie, Sunil Mittal of Bharti Airtel and Dr. Cyrus S Poonawala of Serum Institute. It is worth noting that Dr. Poonawala’s privately held Serum Institute generates profits in excess of IN1,700 Cr annually, sells world’s cheapest vaccines. Were his vaccines to be marked up to market prices his contribution to philanthropy would be quite significant.

The biggest gainers of 2014 amongst Indians in the rich list are Dilip Sanghvi and Shiv Nadar, each adding INR31,100 Cr to their wealth from 2013. Shiv Nadar’s HCL Technologies has gone up in excess of 100% in the past year. KP Singh of DLF has recorded the biggest loss of wealth having lost INR18,600 Cr owing to a 48% drop in the stock prices of DLF bringing him down from #236 to #412 in the Global Rich List.

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Shalini Pillai
Source:Hurun Report Inc.
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Location:Cochin - Kerala - India
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