In this blog you will know about the top 5 billionaires of India who are listed in FORBES INDIA RICH LIST 2019, do read it!!..
“DESPITE SLOW GROWTH FORTUNE FAVORS A FEW”.
As economic growth slowed down to 5%, slump in GDP, consumer demand slumped, automobile sector and FMCG sectors also showed layoffs and production cuts to a great extent. It was a very challenging year for the nation’s wealthiest personalities under Narendra Modi led government.
The net worth of a lot of members fell and around nine members rank drop off from the list who were in the list previously.
1. MUKESH AMBANI TOPPED FORBES INDIA RICH LIST
Net worth- $52.6 billion
Major source- Reliance Industry
Despite a slowdown in the economy, Mukesh Ambani is India’s Richest person from the last 12 consecutive years with a Net worth of $52.6 billion.
Reliance was founded by his late father Dhirubhai Ambani, he was a yarn trader and small textile manufacturer.
In the year 2016 Reliance made a disruptive existence in India’s Telecom market which was already hyper-competitive.
Despite intense competition, Reliance came up with brand JIO a 4G phone service. JIO has more than 340million customers offering free domestic calls, cheap data services for the Indian market and 4G smartphones. JIO plays a major role in the success of the Reliance Industry.
2. GAUTAM ADANI IS ON THE SECOND SPOT OF FORBES INDIA RICH LIST
Net worth- $15.7 billion
Major source- Adani ports and SEZ
Gautam Adani was a big gainer from Infrastructure which led him to jump from spot no.2. Previously Adani was at No-8.
Despite a slump in the economy, he gained the spot No 2 in India’s Richest 2019 with a Net worth of $15.7 million.
3. HINDUJA BROTHERS
Net worth- $15.6 billion
Major source- Ashok Leyland.
Hinduja Group comprises of close-knit siblings; Srichand Hinduja, Gopalchand Hinduja, Prakash Hinduja, and Ashok Hinduja. The multinational conglomerate Hinduja Group is controlled by these four brothers.
Hinduja Group’s business ranges from trucks, lubricants to banking, Import, and Export, Trading, Health care, Oil & Gas, Media, and telecom. The brothers also own valuable Real Estate in London including historic old war office buildings in Whitehall.
4. PALLONJI MISTRY
Net worth- $14 billion
Major source- Shapoorji Pallonji Froup
Tycoon Pallonji Mistry owns the 154-year-old Engineering and Construction giant:- Shapoorji Pallonji Group which is headquartered in Mumbai.
Pallonji’s biggest asset is an 18.5% stake in Tata sons holding $111 billion revenue of Tata Groups conglomerate of 30 companies. The S.P GROUP run by Mistry’s older son Shapoor, this Tycoon Shapoor also owns Eureka the country leading brand of water purifiers.
5. UDAY KOTAK
Net worth- $14.2 billion
Major source- Kotak Mahindra Bank
Refusing his family trading business, Uday Kotak started a Finance firm in 1925 and then put his whole effort to convert it into a bank in 2003.
With the fine effort of Uday Kotak, Kotak Mahindra Bank is now among Top 4 Banks in the private sector.