Sourav Majumdar, Editor, Forbes India, said: “This year’s list reflects the churn in the global economy and the growing clout of emerging sectors like e-commerce in India. While the overall wealth of India’s wealthiest has remained by and large constant, the democratisation of wealth within the list continues. Overall, the list reflects the changes in India’s economy, and the resilience of Indian enterprise despite continuing uncertainties in some sectors.”
There are 12 newcomers to this year’s list. The richest is Dubai-based Sunil Vaswani of the Stallion Group, who has vast interests in Africa. He debuts this year at No. 48 with a fortune of $2 billion. Sachin Bansal and Binny Bansal, founders of Flipkart and India’s first e-commerce billionaires, also make their debut this year. They share the same spot at No. 86 with a net worth of $1.3 billion each.
Another notable newcomer is Rakesh Gangwal (No. 70, $1.6 billion), an airline veteran and co-founder of IndiGo whose upcoming IPO earns him a debut spot. Gangwal teamed up with his pal Rahul Bhatia (No. 38, $2.4 billion) a decade ago to start IndiGo.
Despite the weaker rupee, the minimum net worth rose to a record $1.1 billion up from $1 billion last year. Of the 16 from last year’s list who fell off, a dozen did not make the cut despite having $1 billion fortunes.
Sourav Majumdar, Editor, Forbes India, said: “This year’s list reflects the churn in the global economy and the growing clout of emerging sectors like e-commerce in India. While the overall wealth of India’s wealthiest has remained by and large constant, the democratisation of wealth within the list continues. Overall, the list reflects the changes in India’s economy, and the resilience of Indian enterprise despite continuing uncertainties in some sectors.”There are 12 newcomers to this year’s list. The richest is Dubai-based Sunil Vaswani of the Stallion Group, who has vast interests in Africa. He debuts this year at No. 48 with a fortune of $2 billion. Sachin Bansal and Binny Bansal, founders of Flipkart and India’s first e-commerce billionaires, also make their debut this year. They share the same spot at No. 86 with a net worth of $1.3 billion each.Another notable newcomer is Rakesh Gangwal (No. 70, $1.6 billion), an airline veteran and co-founder of IndiGo whose upcoming IPO earns him a debut spot. Gangwal teamed up with his pal Rahul Bhatia (No. 38, $2.4 billion) a decade ago to start IndiGo.Despite the weaker rupee, the minimum net worth rose to a record $1.1 billion up from $1 billion last year. Of the 16 from last year’s list who fell off, a dozen did not make the cut despite having $1 billion fortunes.
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