Thursday, March 5, 2015
Mukesh Ambani Lost Top Spot In Indian Rich List
A fall in oil prices saw Mukesh Ambani cede his status as "India's Richest Man" to pharmaceutical tycoon Dilip Shanghvi who edged to the top of Forbes' list billionaires in the country. Forbes website showed Shanghvi with a net worth of $ 22 billion, and Ambani who chairs the Reliance Industries group, behind with $20.4. Shanghvi's business profile has rocketed after he bought troubled pharma Ranbaxy Laboratories last year from Japanese giant for $ 3.2. The fortunes of Reliance Industries and Mukesh Ambani, who lives in a 27-floor house worth a billion dollars in Mumbai. I global ranking of wealth, 59-year Shanghvi is now in 37th place while Ambani is 42nd. The three other Indians in the top 100 global list are Azim Premji, owner of IT major Wipro, in 47th, followed by HCL Technologies' founder Shiv Nadar at 63rd and steel magnate Lakshami Mittal 84th.