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<ul><li>As much as 12.5% of healthcare wealth globally comes from India. </li><li>India has the second-largest concentration of automobile billionaires after China. </li><li>The wealth of Indian real estate billionaires increased by 150%. </li><li>The report also said that 63% of the world’s billionaires make physical products, while 37% sell software and services. </li></ul> The healthcare sector minted the most number of Indian dollar billionaires in the last one year, according to 2023 M3M <keyword id="2721202" type="General" weightage="20" keywordseo="hurun-global-rich-list" source="Orion">Hurun Global Rich List</keyword>. As much as 12.5% of healthcare wealth globally comes from India, and vaccine king Cyrus Poonawalla of Serum Institute is the richest healthcare billionaire in the world. With Poonawalla and Dilip Shanghvi of Sun Pharmaceutical, the top 10 richest Indians list has two entrants from the healthcare sector. Ranking at 46 globally, Poonawalla of the unlisted empire, is the only billionaire in the top 10 richest Indians whose wealth went up by 4% to $27 billion. Shanghvi, on the other hand, lost 6% wealth in the last one year to end at $17 billion, and is ranked 98 globally. After healthcare, the sectors that created the most Indian dollar billionaires are consumer goods and chemicals, said the Hurun report, adding that financial services, healthcare and retail sectors minted the most global billionaires. “With 13 billionaires from the automobile and auto components sector, India has the second-largest concentration of automobile billionaires after China, which has 39 billionaires. India needs to catch up on sectors such as investments and media and entertainment,” the report said. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industry </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of Indian Wealth in the industry </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Richest in the world and in India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Main Company </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Goods </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.40% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Bernard Arnault India: Harsh Mariwala </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LVMH Marico </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Services </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.70% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Michael Bloomberg India: Uday Kotak </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bloomberg Kotak </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Healthcare </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.50% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global and India: Cyrus Poonawalla </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Serum Institute of India </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Food &amp; Beverages </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.30% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Zhong Shanshan India: Nusli Wadia </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">YST Britannia </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Real Estate </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.00% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Lee Shau Kee India: Rajiv Singh &amp; family </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Henderson Land DLF </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.50% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Jeff Bezos India: Radhakishan Damani </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amazon Avenue SuperMarts </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Media &amp; Entertainment </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.30% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Steve Ballmer India: Shiv Nadar </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Microsoft HCL </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Software &amp; Services </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.80% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Steve Ballmer India: Shiv Nadar </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Microsoft HCL </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial Products </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.40% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Chen Jianhua &amp; Fan Hongwei India: Anu Aga </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hengli Thermax </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investments </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.70% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global: Bill Gates India: Rekha Rakesh Jhunjhunwala </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Microsoft Rare Enterprises </td></tr></tbody><tbody></tbody></table> Source: 2023 M3M Hurun Global Rich List IT, aviation and real estate sectors shine As much as 7.8% of IT sector wealth globally is from India, with Shiv Nadar of HCL as the richest software and services billionaire. His global counterpart is Steve Ballmer, the former CEO of Microsoft. Real estate sector is the third most important sector with 5% of the sector’s global wealth coming from India. “We at M3M are even further excited about the value creation potential of the real estate sector. As Andrew Carnegie also said – Ninety percent of all millionaires become so through owning real-estate. For instance, when cumulative wealth of Indian billionaires increased by 80%, the wealth of Indian real estate billionaires increased by 150%,” said Pankaj Bansal, Director, M3M India. India is also home to the richest aviation billionaires in the world and surprisingly both of them are the founders of the same airline, IndiGo which is the largest airline in India. Rakesh Gangwal and Rahul Bhatia possess wealth of $3.6 billion and $3.3 billion respectively. Energy vs new-age and tech biz Globally, billionaires who belonged to sectors like fertilizers and commodity trading, iron and steel, oil and gas, soft drinks and confectionery, casinos and hotels, sports clubs and luxury goods had a good year. Tech based and new-age businesses, however, had a bad year. “It’s a bad year for semiconductors, cloud solutions, cyber security, payment systems, e-commerce, batteries and new energy,” the report said. The report also said that two thirds of the world’s billionaires – 63% of them make physical products, while 37% sell software and services. In the last one year, the world has lost five billionaires every week. This is only the second time in the last ten years that the number of global billionaires has reduced. The world which has lost 269 billionaires, now has 3,112 billionaires. SEE ALSO <a href="https://www.businessinsider.in/business/news/mukesh-ambani-races-past-gautam-adani-as-richest-indian/articleshow/98910286.cms">Mukesh Ambani races past Gautam Adani as richest Indian: Only Indian in the top 10 in 2023 M3M Hurun Global Rich List</a> <a href="https://www.businessinsider.in/personal-finance/indian-super-rich-bracing-for-a-better-year-ahead-knight-frank/articleshow/98338254.cms">India's super-rich gear up for a better year ahead: Knight Frank</a>

Healthcare, consumer goods minted the most Indian dollar billionaires

New Delhi, Mar 23 () The Petroleum Ministry has received several complaints of alleged corruption and irregularities against the CEO and other officials of Petronet LNG Ltd, Oil Minister Dharmendra Pradhan said on Monday. In a written reply to a question in Lok Sabha, Pradhan said the complaints against the Managing Director and CEO of Petronet and other officers were forwarded to the Chairperson of Audit Committee of the company for appropriate action. Prabhat Singh has been the Managing Director and CEO of Petronet LNG Ltd (PLL), India's biggest liquefied natural gas importer, since September 2015. His five-year term comes to an end in six months from now and he is eligible for a two-year extension of service till he achieves the superannuation age of 65 years. "Several complaints have been received in Ministry of Petroleum and Natural Gas against MD &amp; CEO, PLL and other officers of PLL regarding alleged corruption/irregularities which were forwarded to Chairperson, Audit Committee, PLL for taking appropriate action," Pradhan said without giving details. He said PLL has its own board-approved vigilance mechanism whereby the board has nominated Chairperson, Audit Committee as nodal officer to deal with all the complaints received against functional directors. According to PLL's website, independent director Jyoti Kiran Shukla is the Chairperson of the Audit Committee. The panel comprises of three other independent directors. Shiv Sena MP Krupal Balaji Tumane had asked Pradhan if the government has conducted any investigation into the complaints received. Asked if the government has conducted any audit of the accounts of PLL regarding the irregularities during the last three years, the Minister said, "PLL is a board managed company and not a government company as per Companies Act." "Further, Audit Committee of the Board reviews and monitor auditing mechanism and ensures compliance to best auditing and corporate governance practices," he said. According to Pradhan, four government oil and gas public sector undertakings -- Bharat Petroleum Corp Ltd (BPCL), GAIL India Ltd, Indian Oil Corp (IOC) and Oil and Natural Gas Corp (ONGC) -- hold 12.5 per cent equity stake each in PLL. ANZ RVK

Complaints of alleged corruption/irregularities against Petronet LNG CEO: Pradhan

Business scenario is constantly changing all over the world and equally fast in India. If you are interested to know who rules the entrepreneurial domain in India, here are the top 10 businessmen in India. 1. <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> 
 
 
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 Ruling the petrochemicals, oil and gas sector in India, Mukesh Ambani has a net worth of $47.3 B. He is the chairman of $90 B enterprise in the giant of Oil and Gas domain called as Reliance Industries. Reliance also is one of the leaders in the telecom market in India that serves more than 300 million customers with free domestic calls, cheap data services and free smartphones. 2. <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> 
 
 
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 Azim Premji’s net worth is $21 B and he is one of the leaders in the software services in India. He is a popular tech magnet in the country. His outsourcing firm Wipro is the third largest in India. His innovation center in Silicon Valley develops new technologies and collaborates with startup businesses. 3. Lakshmi Mittal 
 
 
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 The third richest man in India, Lakshmi Mittal has a net worth of $18.3 B. He is a leader in the steel industry in India. He is the CEO of the world’s biggest steel manufacturing company Arcelor Mittal. In November 2018, his firm completed the $2.1 billion acquisition of Ilva, Italy’s steel group. 4. Hinduja brothers 
 
 
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 Hinduja brothers, the fourth richest persons in India with a net worth of $18 B own establishments with diversified interests dealing with lubricants, banking and cabling industries. 5. <keyword id="6689214" type="PERSON" weightage="20" keywordseo="pallonji-mistry">Pallonji Mistry</keyword> 
 
 
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 Pallonji Mistry is the fifth richest businessman in India with a net worth of $15.7 B. he controls Shapoorji Pallonji Group, the construction company based in Mumbai. His family also own an 18.4% stake in Tata Sons that holds an outfit of $100 billion in Tata Group. 6. Shiv Nadar 
 
 
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 With a net worth of $14.6 B, Shiv Nadar is the sixth richest entrepreneur in India. A pioneer in the IT sector of India, Shiv Nadar is the cofounder of the HCL starting initially with the production of calculators and microprocessors. Today, HCL Technologies is an $8.2 billion company in the country. 7. <keyword id="2349569" type="PERSON" weightage="20" keywordseo="Godrej-family">Godrej family</keyword> 
 
 
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 The seventh place among the richest businessmen in India goes to Godrej family. With a net worth of $14 B, the Godrej family controls the <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword> which is a giant player in the consumer goods segment in India. 8. Dilip Shanghvi 
 
 
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 The net worth of Dilip Shanghvi is $12.6 B. A leading player in the pharmaceuticals industry, Dilip Shanghvi chairs the India’s largest pharmaceutical establishment and the world’s fourth largest specialty drugs manufacturing company Sun Pharmaceutical Industries. 9. Kumar Birla 
 
 
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 Kumar Birla with a net worth of $12.5 B is the head of Aditya Birla Group dealing with diversified offerings namely cement, aluminium, telecom and financial services. In 2018, his firm Idea Cellular acquired Vodafone India, India’s largest telecom firm. 10. Gautam Adani 
 
 
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 With a net worth of $11.9 B, Gautam Adani is the tenth richest businessman in India. Dealing with commodities, power generation and transmission and infrastructure, Gautam Adani is a ports Tycoon who controls Mundra Port, the largest port of India in Gujarat. 
 See also: <a href="https://www.businessinsider.in/the-top-10-richest-person-in-india/articleshow/68352802.cms">Meet the top 10 richest people in India</a> <a href="https://www.businessinsider.in/These-are-the-10-richest-people-in-India/articleshow/65957318.cms">These are the 10 richest people in India</a>

Meet India's top 10 Businessmen in 2019

<ul><li>Even before the coronavirus outbreak, Indian economy has been slowing down which has led <keyword id="390386" type="PERSON" weightage="20" keywordseo="Indian-billionaires">Indian billionaires</keyword> to collectively lose 23% of their net worth. </li><li>Mukesh Ambani is still the richest man in India with a networth of $36.8 billion though he fell to 21st rank from the tenth rank he held earlier, globally. </li><li>The other billionaires who lost wealth include Uday Kotak, Gautam Adani, and Shiv Nadar. Radhakishan Damani and Sunil Bharati Mittal were the only exceptions.</li></ul>The Covid-19 outbreak and slowdown has cost many people their salaries, jobs and much more. Indian billionaires are not immune to it either. Collectively all of India’s 102 billionaires lost $93 billion - or a quarter of their wealth. Indian billionaires are now worth $313 billion as opposed to $406 billion last year - that is 23% lower than what they held last year. “The COVID-19 pandemic was a double whammy for India’s billionaires, whose fortunes had already taken a hit from a slowing economy and falling consumer demand. Even before India went into a total lockdown at the end of March, its stock market had plunged to a three-year low as of March 18, the date we finalized this year’s list,” <a href="https://www.forbes.com/sites/naazneenkarmali/2020/04/07/indias-10-richest-billionaires-in-2020/#498bb74b7c23">reported Forbes</a>. As all Indian billionaires lost, Mukesh Ambani could retain his title as India’s richest man. But his net worth slumped to $36.8 billion from $50 billion earlier, which made him lose his global ranking. He is now the 21st richest man in the world as opposed to 9th richest man earlier. Many other billionaires including Uday Kotak, Cyrus Poonawalla, and Shiv Nadar lost over a billion dollars each. Radhakishan Damani of DMart and Sunil Bharati Mittal were the only exceptions. Damani is now the second richest man in India. His net worth rose by a quarter to $13.8 billion from $11.1 billion earlier after shares of Avenue Supermarts surged 31% between January 1 and February 18. But slowdown is not the only reason why many billionaires lost their wealth. This number was greatly affected by generosity, and mostly from one person. Tech tycoon <a href="https://www.businessinsider.in/india/news/azim-premji-foundation-and-wipro-donate-1125-crore-to-fight-coronavirus-pandemic/articleshow/74927786.cms">and owner of Wipro Azim Premji donated 73% of his wealth</a>, reducing the collective net worth by a substantial amount. Here are the latest set of 10 richest people in India and net worth, according to Forbes Note: All the net worth are current estimates as of March 18, 2020 <ol><li>Mukesh Ambani, Chairman and managing director of Reliance Industries <div type="image" title="3500BF99-ADA7-4187-AFC5-5DF385AB4058" msid="75045524" hostid="261"></div></li></ol>Net worth 2020: $36.8 billion Networth 2019: $50 billion Residence: Mumbai Source of wealth: Petrochemicals, Oil &amp; Gas 2. Radhakishan Damani, Founder of Avenue Supermart <div type="image" title="06C7A9DE-52BF-4316-9635-5EEC5EA4890C" msid="75045582" hostid="261"></div> Net worth 2020: $13.8 billion Net worth 2019: $11.3 billion Residence: Mumbai Source of wealth: Retail, Investments 3. Shiv Nadar, Founder and chairman of HCL <div type="image" title="C8AD9138-2839-45DC-8C94-46256308BFCB" msid="75045592" hostid="261"></div> Net worth 2020: $11.9 billion Net worth 2019: $14.6 billion Residence: Delhi Source of wealth: Software Services 4. Uday Kotak, Executive VC and MD of Kotak Mahindra Bank <div type="image" title="ABC9EE1B-76CF-4463-B54C-B7457AC758DE" msid="75045640" hostid="261"></div> Net worth 2020: $10.4 billion Net worth 2019: $11.8 billion Residence: Mumbai Source of wealth: Banking 5. Gautam Adani, Chairman and founder of the Adani Group <div type="image" title="A6E80505-C2D3-48CC-A228-08FEBD998BA9" msid="75045766" hostid="261"></div>Net worth 2020: $8.9 billion Net worth 2019: $8.7 billion Residence: Ahmedabad Source of wealth: Commodities, Ports 6. Sunil Mittal, Founder and chairman of Bharti Enterprises <div type="image" title="4A9E7EB2-CF33-4723-876C-21F540D987DC" msid="75045796" hostid="261"></div> Net worth 2020: $8.8 billion Net worth 2019: $6.5 billion Residence: Delhi Source of Wealth: Telecom 7. Cyrus Poonawalla, Chairman of Poonawalla Group <div type="image" title="248E9904-19C2-413C-8FD5-C86D30E8A0F3" msid="75045921" hostid="261"></div> Net worth 2020: $8.2 billion Net worth 2019: $9.5 billion Residence: Pune Source of wealth: Vaccines 8. Kumar Mangalam Birla, Chairman of the Aditya Birla Group <div type="image" title="5E1CAFDB-A6D1-46A9-B3D1-EE21862E28BD" msid="75045951" hostid="261"></div>Net worth 2020: $7.6 billion Net worth 2019: $11.1 billion Residence: Mumbai Source of wealth: Commodities 9. Lakshmi Mittal, Chairman and CEO of ArcelorMittal <div type="image" title="12A0597E-8231-43FA-99BB-19EBDEDFE9D4" msid="75045988" hostid="261"></div>Net worth 2020: $7.4 billion Net worth 2019: $10.5 billion Residence: London Source of wealth: Steel 10. Azim Premji , Chairman of Wipro (rank tied with Dilip Sanghvi), <div type="image" title="7BC8A475-B3D0-4213-8014-2D33120E441B" msid="75046024" hostid="261"></div> Net worth 2020: $6.1 billion Net worth 2019: $22.6 billion Residence: Bangalore Source of wealth: Software Services 10. Dilip Shanghvi, Founder Sun Pharmaceuticals <div type="image" title="Dilip_Shanghvi1" msid="75046063" hostid="261"></div>Net worth 2020: $6.1 billion Net worth 2019: $7.6 billion Residence: Mumbai Source of Wealth: Pharmaceuticals <a href="https://www.businessinsider.in/politics/india/news/mukesh-ambani-drops-11-places-in-forbes-rich-list-after-coronacrash-is-now-the-21st-richest-man/articleshow/75040009.cms" data-type="tilCustomLink">Mukesh Ambani drops 12 places in Forbes rich list after Coronacrash — is now the 21st richest man in the world</a>

Indian billionaires lost $93 billion in a year as Covid-19 and slowdown ate into their wealth

ealth does not remain static especially during the fluctuating industry scenario today. India has produced several billionaires who occupy a significant number of slots on the list of wealthiest persons in the world today. Here is the list of the top 10 richest persons in India as per their latest real time Forbes data on 11 October 2021. 1. Mukesh Ambani - $102 billion The wealthiest person in India, Mukesh Ambani of Reliance Industries occupies the Tenth slot in the world’s richest persons’ list. Mukesh Ambani has a net worth of $102 billion. Much of Mukesh’s wealth ensues from the petrochemicals and oil and gas businesses built by his father Dhirubhai Ambani ⁠— a business icon in his own right— but Mukesh is pivoting to more consumer-facing businesses like telecom and retail. Reliance Jio is one of the largest telecom networks in India today and has <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-jio-compared-to-alibaba-and-tencent/articleshow/77059624.cms">already raised over $20 billion in recent months</a> and the next leg of fundraising <a href="https://www.businessinsider.in/business/news/mukesh-ambani-next-goal-seems-to-be-the-retail-king-of-india/articleshow/76953716.cms">will be for retail</a>. 2. Gautam Adani - $71.7 billion Gautam Adani’s net worth as per the latest forbes records is $71.7 billion. He is the Second <keyword id="7413735" type="General" weightage="20" keywordseo="richest-person-in-india" source="Orion">richest person in India</keyword> and ranks 15 on the list of the world’s richest. Apart from Mundra Port, the largest in India, his wealth-generating portfolios include a range of commodities, power generation including renewable energy (like solar farms), and transmission to name a few. 3. Shiv Nadar - $31.5 billion With his $31.5 billion estimated net worth, Shiv Nadar ranks as the third richest person in India. HCL Technologies founded by him is a (₹) 274826 crore (market value) company and one of the largest software services exporters in the world today. With its presence in over 45 countries on the globe, HCL Technologies makes Shiv Nadar claim the 41th slot in the list of world’s richest persons. 4. Radhakishan Damani &amp; Family - $ 22.1 billion Radhakishan Damani’s net worth of $22.1 billion, which makes him the fourth richest person in India today. He occupies the 101 position in the global rich list. Radhakishan Damani is a veteran Mumbai stock market investor who founded <a href="https://www.businessinsider.in/business/news/radhakishan-damani-has-a-string-of-challenges-ahead-of-him-and-falling-profits-at-dmart-dont-help/articleshow/76936913.cms">the supermarket chain DMart </a>which went public in 2017, and eventually went on to be the world’s most-valued retail chain for its unique model that makes the holding company Avenue Supermarts more profitable than many of its peers. 5. Savitri Jindal &amp; Family - $18.6 billion Standing at the 106th position in the world and the richest woman in India is Savitri Jindal, the 70-year-old chair of a multibillion dollar conglomerate, who's worth $18.6 billion. India's women billionaires also include the heads of pharmaceutical, software, and consumer goods companies. 6. Cyrus Poonawalla - $18.2 billion Ranked as the 6th wealthiest person in India, Cyrus Poonawalla has a net worth of $18.2 billion. He founded the Serum Institute of India in 1966 and it is today the largest producer of vaccines for measles, influenza and polio. At present, the company is also co-developing two vaccines for COVID-19 and has a <a href="https://www.businessinsider.in/science/health/news/adar-poomawala-says-oxfords-covid-vaccine-is-expected-to-hit-the-indian-market-in-the-first-quarter-of-2021/articleshow/77107541.cms">significant lead over other similar researches that are underway</a>. In the world’s wealthiest persons list he ranks in the 110th position. 7. Lakshmi Mittal - $ 17.6 billion The Chairman and CEO of ArcelorMittal, Sunil Mittal has a net worth of $17.6 billion and ranks as the Seventh richest person in India. His wealth status positions him in the 115 place on the world’s richest persons list. He is known for turning sick steel producing companies into profitable ventures across the world. He most recently bagged the bankrupt Essar Steel in India, which was owned by the Ruia family. 8. Kumar Birla - $16.1 billion Standing at the 131th position in the world’s richest persons’ list, Kumar Birla has a net worth of $16.1 billion, which makes him the Eighth wealthiest person in India. The head of Aditya Birla Group which he inherits for the fourth generation in row, his group is concerned with producing cement and aluminum alongside retail, telecom and financial services. 9. Uday Kotak - $16.1 billion The founder of Kotak Mahindra Bank, Uday Kotak, occupies the fifth position on the list of India’s richest. With a net worth of $16.1 billion, Kotak takes 132nd place on the world’s richest persons’ list. 10. Dilip Shanghvi - $14.4 billion The tenth richest person in India is Dilip Shanghvi whose latest net worth is $14.4 billion. The founder of Sun Pharma, Dilip Shanghvi has turned his firm into the largest player in the manufacturing of specialty generic drugs. He has also invested in energy and oil ventures. On the world’s richest persons’ list, he ranks in the 146th position. See Also - <a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms">Top 10 richest people in the world</a> <a href="https://www.businessinsider.in/top-10-largest-economies-in-the-world/articleshow/70547252.cms">Top 10 largest economies in the world</a> <a href="https://www.businessinsider.in/finance/news/list-of-top-20-richest-people-in-the-world/articleshow/74475220.cms">Top 20 richest people in the world</a>

Meet the top 10 richest person in India

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<a href="http://www.kitces.com/blog/19-ways-to-make-your-financial-advisor-website-more-credible-and-trustworthy/">5 Things Financial Advisors Need To Do To Make Their Website More Credible</a> (Nerd's Eye View) 
It's becoming increasingly important for advisors to have an online presence to add to their legitimacy. In a guest post for Nerd's Eye View Maria Marsala a strategist for financial advisors points 14 key ways for advisors to make their website more credible. We highlighted five key suggestions. 
1. "Purchase an appropriate domain name." 2. "Make it quick. …Most visitors will not have the patience to stick around much longer than that and will simply move on." 3. "Secure purchases and interactions. The best sites provide the most secure access available to sensitive client information." 4. "Don't clutter the site. Use lots of white space to "break up" the text. It's easier on the eyes that way. The only place to NOT use lots of white space is at the top of your pages." 5. "Include a personal touch. Studies have shown that after viewing a home page, the next page people read - and spend a lot of time on - is your "About" page." 
<a href="http://online.wsj.com/article/SB10001424127887324577304579058910706061796.html?mod=WSJ_WealthAdviser_WhatsNews_3_3_RightTop">A Newly Oil-Rich Rancher Is Shown The Importance Of Diversity</a> (The Wall Street Journal)
A rancher became incredibly wealthy three years ago after oil and natural gas were found below his property. But he pumped his money intro annuities after he was sold "safety above all else," according to Ed Hart of Texas-based Sendero Wealth Management. But Hart told the Wall Street Journal that it was important for his client to diversify. 
"He also walked the client through the annuity fees, including stiff withdrawal penalties that started at 7% in the first year," Austin Kilham of the WSJ reports. "Seeing the full scope of those fees made an impression on the flinty rancher, who was used to keeping a tight rein on his expenses."
<a href="http://www.businessinsider.com/howard-marks-key-to-investment-2013-9">HOWARD MARKS: There Is One Thing I Want To Know When I Look At An Investment </a>(Bloomberg TV)<a href="http://www.businessinsider.com/howard-marks-key-to-investment-2013-9"> </a>
Investors closely follow Howard Marks, money manager at Oaktree Capital the world's largest distressed debt investor, for investment advice. In an interview with Bloomberg TV, Marks said there is one thing in investment that he'd like to know about.
"It does all come down to confidence and optimism. If I could know one thing in looking at investment, I'd like to know how much confidence is in the price. I want to buy when confidence is low that's when price is low relative to value, when confidence and optimist high, price is high relative to value and that's a dangerous time."
<a href="http://www.thinkadvisor.com/2013/09/06/trillion-dollar-asset-managers-rule-global-aum-cer?ref=hp">The World's 50 Largest Asset Managers Account For Over $38 Trillion In Assets Under Management</a> (Think Advisor)
The world's 50 largest asset managers accounted for over $38 trillion in assets under management (AUM) at the end of 2012, according to Cerulli Associates. That's $4 trillion more than the end of 2011. Eleven have assets over $1 trillion, compared with nine in 2011, and four have over $2 trillion, compared with two the previous year. The asset management industry has seen consolidation for some time but "there has definitely been a quickening of pace since the financial crisis," Shiv Taneja of Cerulli told Think Advisor. BlackRock is still the only money manager with over $3 trillion in assets.

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