Mukesh Ambani - Reliance Industries Ltd - Tops the Forbes List!

Mukesh Ambani, chairman of Reliance Industries Ltd, with a wealth of $21 million, has emerged as India’s richest man for the fifth consecutive year, according to Forbes India annual rich list. Lakshmi Mittal has been ranked second despite the loss of $3 million in net worth since last year. Dilip Shanghavi, chairman of India’s biggest drugmaker Sun Pharmaceuticals Ltd., has been the biggest climber with an entry in top five.

Mr. Ambani has maintained the position despite the loss of 7 per cent market value by Reliance Industries Ltd. Mukesh Ambani of RIL has beaten steel tycoon Lakshmi Narayan Mittal and technology czar Azim Premji to top the list.

The 100 richest Indians saw an overall fall of worth which is 20 per cent to $241 billion in one year. The Forbes list consisted of 57 billionaires. According to Forbes, the collective wealth of India’s 100 richest people rose to $250, which is an increase of 3.7 per cent.

The Reliance Industries Ltd shares have been trending fair in the highly volatile share market.