India’s 10 Richest Billionaires by net worth as of September 29, 2020

According to Forbes, Indian Billionaires list 2020, Mukesh Ambani, Reliance Industries chairman with a net worth of $36.8 billion, retained his title as the richest Indian. Retail king Radhakishan Damani rose to become India’s second-richest person with a fortune of $13.8 billion. His fortune has up by a quarter making him the second richest Indian billionaire for the first time. His Avenue shares in Supermarts, which operates the DMart supermarket chain.

Let us have a look at the list of 10 Richest Indian Billionaires in 2020.

1. Mukesh Ambani

Net Worth: $36.8 Billion
Source of Wealth: Petrochemicals, Oil & Gas
Residence: Mumbai, India

Mukesh Ambani is the chairman and managing director of Reliance Industries Limited (RIL). He is not only the richest Indian but also the richest man in Asia. He was born on 19 April, 1957 in Aden (now Yemen) to Dhirubhai Ambani and Kokilaben Ambani. In 1966, Reliance was founded by his late father Dhirubhai Ambani as a small textile manufacturer. After his father death in 2002, Ambani and his younger brother Anil assumed joint leadership of the Reliance Companies.

However, feuds between the brothers over control prompted their mother, Kokilaben Ambani to split Reliance’s assets through a non-competition agreement (2006-2010). Under this Mukesh assumed control of the gas, oil, and petrochemicals units as RIL under the umbrella of the Reliance Group. Under his guidance, the company built the world’s largest grassroots petroleum refinery in Jamnagar, India.

2. Radhakishan Damani

Net Worth: $13.8 Billion
Source of Wealth: Retail, Investments
Residence: Mumbai, India

He was born in 1954 in Bikaner, Rajasthan. He is famous as an investor and Entrepreneur. In 2002, he got in to retailing with one store in Suburban Mumbai and has been unstoppable since. He also holds stakes in several companies from tobacco firm VST industries to beer maker United Breweries.

3. Shiv Nadar

Net Worth: $11.9 Billion
Source of Wealth: Software Services
Residence: Delhi, India

He was born on 14 July, 1945 at Tiruchendur, Tamil Nadu. His father was Sivasubramaniya and mother Vamasundari Devi. He completed his graduation from the American College, Madurai, and degree in Electrical and Electronics Engineering from PSG College of Technology. In 1967, he started his career at Walchand Group’s Cooper Engineering in Pune. An IT pioneer cofounded HCL in a garage in 1976 to make calculators and microprocessors. Today he chairs HCL Technologies which is one of India’s largest software services providers. HCL technologies in December 2018 bought some software products from IBM for $ 1.8 billion. HCL technologies provide employment to around 149,000 people in around 45 countries worldwide, hires school grads, and trains them on the job.

4. Uday Kotak

Net Worth: $10.4 Billion
Source of Wealth: Banking
Residence: Mumbai, India

He was born on 15 March, 1959 in Mumbai, India. He obtained his Bachelor’s Degree from Sydenham College and did post-graduation in management studies in 1982 from Jamnalal Bajaj Institute of Management Studies. He married in 1985 to Pallavi Kotak and the couple has two children. Soon after his graduation, he entered into the finance business.
He started a finance firm in 1985 than in 2003, went on to convert it into a bank. In the private sector, Kotak Mahindra Bank is now among India’s top four banks boosted by its 2014 acquisition of ING Bank’s Indian operations.

5. Gautam Adani

Net Worth: $8.9 Billion
Source of Wealth: Commodities, Ports
Residence: Ahmedabad, India

He was born on 24 June, 1962 at Ratanpol, Ahemdabad. He controls Mundra Port which is India’s largest, in his home state of Gujarat. His revenue that is around $13 billion Adani Group’s interests include power generation, and transmission, edible oil, real estate, and defence. Adani’s assets overseas include Australia’s Abbot Point port and the Carmichael coal mine, billed as one of the largest in the world. After a 9 year wait, he got the permission in June 2019 to start work on the Australian coal mine. Recently, he expanded two new ventures namely airports and data centers.

6. Sunil Mittal

Net Worth: $8.8 Billion
Source of Wealth: Telecom
Residence: Delhi, India

He was born on 23 October, 1957 in Ludhiana, Punjab. He completed his Bachelor of Arts and Science in 1976 from the Punjab University, Chandigarh. In 1976, he started a business with his two brothers and a friend. The business was to make crankshafts for local bicycle manufacturers. He is married to Nyna and has three children.

Sunil Mittal, the Telecom tycoon, Bharti Airtel is among India’s largest mobile phone operators with more than 418 million customers.  He also owns Airtel Payments Bank, a niche bank, in a joint venture with Kotak Mahindra Bank which is controlled by fellow billionaire Uday Kotak. His son Named Kavin runs SoftBank-backed messaging service Hike.

7. Cyrus Poonawalla

Net Worth: $8.2 Billion
Source of Wealth: Vaccines
Residence: Pune, India

He is a chairman of Poonawalla Group which consists of privately owned Serum Institute of India, India’s top biotech company, and the world’s largest vaccine manufacturer by the number of doses produced and sold globally. Dr. Poonawalla founded Serum Institute in 1966. It launched its first therapeutic anti-tetanus serum within two years and began producing anti-tetanus vaccines.

Around 1.5 billion doses Serum produces annually of a range of vaccines, including for measles, polio, and flu. His son Adar UK-educated is Serum’s CEO and helps him run the company. He has also diversified into finance with Poonawala Finance. Serum owns Dutch vaccine maker Bilthoven Biologicals and the Czech unit of U.S. firm Nanotherapeutics. Also, Serum is co-developing two COVID-19 vaccines, one with U.S. firm Codagenix and the other with Institute Pasteur in Paris and Austrian biotech firm Themis.

8. Kumar Birla

Net Worth: $7.6 Billion
Source of Wealth: Commodities
Residence: Mumbai, India

He is the Chairman of the Aditya Birla Group and his full name is Kumar Mangalam Birla. At the age of 28, he took over as Chairman of the Group in 1995, after the untimely demise of his father. The interest of the group spans cement and aluminium to telecom and financial services. The European Commission in October 2019 approved the $2.6 billion acquisition by his Novelis of Aleris, an aluminium producer in Ohio. In 2018, his telecom firm Vodaphone Idea was formed by the merger between his Idea Cellular and Vodaphone India.

9. Lakshmi Mittal

Net Worth: $7.4 Billion
Source of Wealth: Steel
Residence: London, UK

He was born on 15 June, 1950 at Sadulpur, Rajasthan, India. He is an Indian Businessman and chairman and CEO of Arcelor Mittal which is the world’s largest steelmaking company. His family in 1960 moved to Calcutta (Kolkata), where his father operated a steel mill. While studying science at St. Xavier’s Colege he worked at the mill. In 1970 he graduated and served as a trainee at the mill. He opened his own steel mill in Indonesia in 1976.

To start Mittal Steel, he separated from his siblings and then went on to merge the company with France’s Arcelor in 2006. Due to lower steel prices and higher raw material costs, the company reported a net loss of $ 2.5 billion in 2019. Arcelor and Nippon Steel in 2019 completed their $5.9 billion acquisition of Essar Steel, once controlled by billionaires Shashi and Ravi Ruia.

10. (tie) Azim Premji

Net Worth: $6.1 Billion
Source of Wealth: Software Services
Residence: Bangalore, India

He was born on 24 July, 1945, Bombay (now Mumbai), India. He is an Indian business entrepreneur and chairman of Wipro Limited. When he was about to complete his degree in engineering at Stanford University in 1966, his father died unexpectedly. He postpone his graduation and returned to India to take the reins of the family business. He began to diversify, delving into consumer products like soap, shoes, lightbulbs, and also hydraulic cylinders.He renamed the company as Wipro in 1977 and when the Indian government asked IBM in 1979 to leave the country, he began to steer the company toward the computer business. In the 1980s, Wipro established various successful international partnerships that help to build computer hardware for sale in India.

Wipro is India’s fourth-largest outsourcer. The innovation centre of Wipro is in Silicon Valley, which is focussed on developing new technologies and collaborating with startups. Ajim Premji’s son Rishad succeeded his father in July 2019 as Wipro’s executive chairman. Ajim Premji Foundation provided aid of $134 for the COVID-19 pandemic in April 2020.

10. (tie) Dilip Shanghvi

Net Worth: $6.1 Billion
Source of Wealth: Pharmaceuticals
Residence: Mumbai, India

He was born on 1 October, 1955 in Amreli, Gujarat, India. He is a business executive and the founder of Sun Pharmaceutical Industries Ltd. in 1983. He completed his graduation in 1982 from the University of Calcutta in commerce. When he started Sun Pharma to make psychiatric drugs in 1983, he borrowed $200 from his father. It is India’s most valuable pharma outfit with March 2019 revenues of $ 4.1 billion. It is also the world’s fourth-largest specialty generics maker. He has personally invested in renewable energy and oil and gas in recent years.

10 Richest Indian Billionaires Net Worth in 2020

S. No. Name of Person Net Worth
1 Mukesh Ambani $36.8 Billion
2  Radhakishan Damani $13.8 Billion
3 Shiv Nadar $11.9 Billion
4 Uday Kotak $10.4 Billion
5 Gautam Adani $8.9 Billion
6 Sunil Mittal $8.8 Billion
7 Cyrus Poonawalla $8.2 Billion
8 Kumar Birla $7.6 Billion
9 Lakshmi Mittal $7.4 Billion
10 (tie) Azim Premji $6.1 Billion
10 (tie) Dilip Sanghvi $6.1 Billion

These are the 10 Richest Indian Billionaires in 2020. This list will help you to prepare for several competitive examinations.


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