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MA Yusuffali, Joy Alukkas and Micky Jagtiani maintain their place on Forbes’ list of the 100 richest people, topped by Gautam Adani.
Yusuf Ali MA Yusuffali, whose Lulu Group operates one of the fastest growing networks of hypermarkets and supermarkets in the world, ranked 35th with assets of $5.4 billion. — file photo
The combined wealth of India’s 100 richest people increased by $25 billion to reach $800 billion. This is because India’s economy overtook the UK to become her fifth largest in the world due to a post-pandemic recovery in demand.
Three non-resident Indians living in the United Arab Emirates — MA Yousufari, chairman of Lulu Group, Joy Alucas, chairman of Joya Lukkas Group, and Mickey Jagtiani, chairman of Landmark Group — are among the wealthiest. He maintained his place on the Forbes list of 100 Famous People. Indian infrastructure tycoon Gautam Adani, with $150 billion in assets, tops the list.
Yusuffali, whose Lulu Group runs one of the fastest growing networks of hypermarkets and supermarkets in the world, ranked 35th with assets of $5.4 billion.
Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, said:
Arukas, which owns the Middle East’s largest jewelery network, ranked 69th with assets of $3.1 billion. He is the only Indian jeweler to make it into the top 100. Ranked 73rd, Jagtiani’s wealth is estimated at $2.9 billion.
After nearly tripling its wealth in 2021, Adani doubled its wealth to $150 billion this year, becoming the new number one. Also in September of this year, he became the second richest person on the planet for a while when his fortune was his $155.7 billion. Adani, who made the year’s biggest profit both in percentage and amount, has announced that he will invest his $100 billion over the next decade.
The second richest Indian is Mukesh Ambani, chairman of Reliance Industries, a giant that ranges from oil and gas to telecoms, who earned $88 billion, down 5.0% from $92.7 billion last year, according to Forbes. increase. Adani and Ambani now own 30% of the total wealth of India’s top 100 richest people.
Radhakishan Damani, who owns the DMart chain of supermarkets, made it into the top three for the first time, even though his net worth fell by 6.0% to $27.6 billion. Forbes said in a statement that big profits from Covid-19 vaccines have pushed Indian vaccine tycoon Silas Poonawala to fourth place with a fortune of $21.5 billion.
Gautam Adani has doubled its assets to $150 billion this year, becoming the new No. 1.
Also in the top 10 are Shiv Nadar ($21.4 billion) and Savitri Jindal and his family ($16.4 billion). Dilip Shanghvi and family – $15.5 billion. Hinduja brothers – $15.2 billion. Kumar Birla – $15 billion. And the Bajaj family – $ 14.6 billion.
Three prominent members of the richest top have died this year. Rakesh Jhunjhunwala, often referred to as India’s His Warren Buffet, died shortly after launching new airline Akasa Air in August and was succeeded by his wife, his Rekha Jhunjhunwala. Palongi Mistry’s 54-year-old son Cyrus Mistry died in a car accident in September, three months after his death, leaving the eldest son of the patriarch, Shapur Mistry, to the family’s $14.2 billion share. took control of the property.
Mukesh Ambani, chairman of Reliance Industries, is the second richest Indian with $88 billion, down 5% from last year’s $92.7 billion.
Nykaa CEO Falguni Nayar is one of three newcomers to the list this year thanks to the company’s IPO. Falguni Nayar (rank 44, net worth $4.08 billion) is a former banker who last year became India’s richest self-employed woman after she took beauty and fashion retailer Nykaa public. I was. Two other new additions to the list after the IPO rollout are ethnic clothing retailer Ravi Modi (No. 50 with a net worth of $3.75 billion) and shoe maker Rafique Malik, who listed Metro Brands in December 2021. (#89 with a net worth of $2.22 billion). .
Among the four returning to the ranks is Anand Mahindra, who made headlines by launching an electric SUV. The list of gainers outnumbered her 60, the majority whose wealth fell from a year ago. Notable among the drops was Vijay Shekhar Sharma, who saw his shares in One97 Communications, parent company of fintech Paytm, fall amid a global tech crash. The top 100 cutoff is $1.9 billion for him, about the same as he was last year at $1.94 billion.
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