India has generated a good number of billionaires, many of them even ranking substantially among the richest persons in the world. Hailing from a variety of industry backgrounds, Indian billionaires have helped build the country’s economy in a significant way. Wealth is bound to fluctuate under the volatile market conditions, especially since most billionaires have their fortune invested in publicly traded stocks.
Here is the latest ranking of 5 richest persons in India in 2022 as per ‘The World’s Real Time Billionaires 2022’ published by Forbes.
Gautam Adani and Family
Gautam Adani & family is one of the richest families in India with a staggering net worth of $135.8 billion. The Adani Group has interests in sectors like power generation and transmission, real estate, commodities, and infrastructure. In September 2020, the group acquired a 74% stake in the Mumbai International Airport. Additionally, the family owns a coal mining project in Australia known as Abbot Point.
Mukesh Ambani is an Indian business magnate who is the founder and chairman of Reliance Industries. He is ranked as the tenth richest person in the world in 2022, with a net worth of $91 billion. His interests span across various sectors, including petrochemicals, oil and gas, retail, and telecom. In 2016, he launched 4G phone services in the Indian telecom market, which sparked a price war and forced several other networks out of business. During the COVID-19 lockdown period, he sold one third of Jio to some investors like Google and Facebook, raising over $20 billion.
Shiv Nadar, the co-founder of HCL, is one of India’s richest billionaires with a net worth of $25.5 billion. HCL started out in 1976 manufacturing calculators and microprocessors, and today it is one of the largest providers of software services in the country, with a revenue of $102 billion. HCL Technologies employs 169,000 people across 50 countries. After Shiv Nadar stepped down as the CEO of HCL in 2020, his daughter took his place. Shiv Nadar is currently the chairman emeritus. A leading philanthropist in the country, he has donated over $662 million to Shiv Nadar Foundation to support causes related to education.
Cyrus Poonawalla is one of the richest people in India, with a net worth of $21.6 billion. He founded the Serum Institute of India, which is today the largest vaccine manufacturer in the world. The company produces more than 1.5 billion doses of vaccines for flu, polio and measles. His son Adar is the CEO of Serum, which has also invested around $800 million to build a new factory producing Covid-19 vaccines.
Radha kishan Damani
Radhakishan Damani’s $17.7 billion net worth puts him in fifth place among India’s richest persons. He made his fortune in the retail industry, becoming the king of retail in India after the successful IPO of his supermarket chain, Avenue Supermarkets, in March 2017. He started with just one store in a Mumbai suburb and has since grown the chain to over 221 DMart stores across the country. In addition to his retail empire, Damani also has stakes in other businesses like the tobacco firm VST and India Cements. He also owns the 156-room Radisson Blu Resort in Alibag, a popular beachfront getaway near Mumbai.
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