Rich list

Demonetisation fallout: 11 Indians out of Hurun Global Rich List, Mukesh Ambani richest in country

Two new Indians – Paytm’s Vijay Shekhar Sharma and Divyank Turakhia of Directi – feature in this year list.

The Centre’s move to demonetise 86% of India’s currency has displaced 11 Indians from a global rich list. “India had a tough year because of disruptive government policies such as demonetisation drive,” Anas Rahman Junaid, Managing Director and Chief Researcher of Hurun Report India, told IANS. “However, on a long term perspective, we do believe that such transparent currency economics will have a positive impact for the entrepreneurs.”

This year’s Hurun Global Rich List has 100 billionaires from India who have a net wealth of $1 billion (around Rs 6,667 crore), or more. Topping the list from India is Reliance Industries Chairperson Mukesh Ambani. Globally, Ambani features at number 28 with wealth worth Rs 175,400 crore (around $26 billion), followed by SP Hinduja, Chairperson of Hinduja Group SP, and family with a fortune of Rs 101,000 crore (around $14 billion).

The third richest Indian on the list is Sun Pharmaceuticals Founder Dilip Shanghvi. He dropped to the third position after his company’s shares fell 18%, reported Mint. Shanghvi’s net wealth came down by 22% to Rs 99,000 crore (around $14 billion). The others in the list include construction tycoon Pallonji Mistry, Arcelor Mittal chairperson Lakshmi N Mittal, industrialist Shiv Nadar, Cyrus Poonawalla, Wipro’s Azim Premji and Uday Kotak.

Although 11 Indians like Flipakart’s Sachin and Binny Bansal got dropped, the list has two new names from India – Paytm’s Vijay Shekhar Sharma and Divyank Turakhia of Directi. Both have a net fortune of $1.2 billion. Overall, India dropped to 4th position. The combined wealth of the Indian billionaires declined by 1% to $304 billion.

Globally, Microsoft founder Bill Gates tops the list, followed by Warren Buffett and Jeff Bezos. Hurun is a China-based research firm. The list was released on Tuesday.

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