Global Indian 25 rich list

From incredible industrialists to the sultans of software and steel, from kings of construction to pharma ag-bearers, these are the 100 richest Indians across the globe, according to RAYMEDIA

Sometimes, all it takes is a name to evoke awe: Ambani, Mittal, Hinduja, Birla. For the aspirational nation that is India, these people - and a select few like them - are the superlatives of success. These are the people who hold sway over almost every aspect of the lives of Indians: be it the food they eat, the phones and internet they use, the houses they build, the power they consume, the vehicles they drive, the money they invest.

Through extensive research, checks and cross-checks, London-based media house RAYMEDIA came out with its second edition of the list which combines Indians, non-resident Indians and persons of Indian origin or overseas citizens of India in 2016.

The qualification for inclusion on the list is a minimum net worth of US$1 billion or its equivalent.

RAYMEDIA’s original list includes 150 individuals, families or partnerships. The aggregate net worth of the people featuring on that list is more than 20% of India’s GDP. Indian Link, which has the exclusive Australian rights to publish the list, brings

MUKESH AMBANI

$23.5 billion

Industry India

After a brief drop in 2015, Mukesh Ambani returned as the richest person in the Indian diaspora despite his Reliance Industries Limited — one of the biggest taxpayers to the Indian government — suffering from low oil and gas prices. In September 2016, Ambani shook up India’s hyper-competitive telecom market with the launch of the 4G network service Jio, that quickly notched up close to 100 million subscribers with its seemingly irresistible offer of free broadband and voice services. Reliance also controls Network 18, which owns the TV news channel CNN News 18. Ambani dropped out of Stanford Business School’s MBA program to help his father Dhirubhai build Reliance. His home in Mumbai is one of the world’s most expensive residential properties, worth close to $1 billion.

you the top 100 names from the list here (see full list on our website indianlink.com.au).

The template for the compilation was created by Philip Beresford, one of the most experienced wealth estimators in the world.

The net worth figures are best estimates and subject to fluctuation, given the volatility of the markets.

Figures are in US dollars.

GODREJ FAMILY

SHIV NADAR

$12.4

billion India

Various

In 1918, the Godrej Group launched the world’s rst soap product made from vegetable oil. The-119year-old group, now headed by Adi Godrej, is involved in real estate, industrial engineering, appliances, furniture, security, agriculture and consumer goods that aråe also sold in

$12 billion India Software

HCL Group, co-founded by Shiv Nadar in 1976, began by selling microprocessors, but has re-invented itself into a top software operation.

HCL’s recent acquisitions include businesses from Alstom, Deutsche Bank, the Godrej family-controlled software rm Geometric, and Butler America Aerospace, a defence and aerospace services rm. Nadar’s art collection is worth nearly $100 million.

CYRUS POONAWALLA $9 billion India

Pharmaceuticals

From owning stud farms in Pune, Cyrus Poonawalla and his brother Zavaray launched Serum Institute of India in 1966. It is is now the world’s largest producer of vaccines; every second child in the world is inoculated by a vaccine from SII. Its range of new vaccines includes one for dengue. Poonawalla has investments in real estate and hotels.

HINDUJA FAMILY $17 billion UK/Switzerland/India Various

The return of Iran – where their business took off –and the commissioning of a part of a agship power project in India’s Andhra Pradesh have boosted the multinational group that is run by four brothers, Srichand, Gopichand, Prakash and Ashok. They have also launched Nxt Digital, a digital television distributor, in India. Their existing businesses include India’s second biggest truck maker Ashok Leyland, British electric bus maker Optare, interests in Gulf Oil, the US chemical company Houghton and IndusInd Bank.

AZIM PREMJI $15.3 billion India Software

2 5

After his father’s death in 1966, Azim Premji had to cut short his studies in electrical engineering at Stanford University to take charge of the family business. He, then, transformed Wipro (an acronym for Western Indian Vegetable Products) from a seller of hydrogenated cooking fats, soaps and other consumer products into the third largest Indian software exporter. Named the most philanthropic Indian for three years straight, he has pledged 39% of his stake in Wipro to his Trust and has donated over $8.5 billion to charitable causes till date.

DILIP SHANGHVI $16 billion India

Pharmaceuticals

KUMAR MANGALAM

BIRLA

$8.8 billion

India

Aluminium & Cement

Hindalco Industries, a part of Birla’s Aditya Birla Group, is India’s second largest aluminium maker. Birla has expanded his presence in the cement sector by buying the rival Jaypee Group for $2.4 bn. Birla is a great-grandson of G D Birla, a pioneering Indian businessman in the 20th century.

A warning in the US about manufacturing standards had an adverse impact on Shanghvi, as did the $4 billion acquisition of rival Ranbaxy Industries. But Sun remains India’s biggest pharmaceutical company and the 5th largest generic rm in the world. It recently introduced a generic version of Gleevec, a cancer drug made by Novartis, in the US. (Because Sun Pharma’s stocks plummeted on account of regulatory issues and pricing pressure in the US, Shanghvi’s net worth has slipped to $11 billion from the time this list was originally compiled.)

PALLONJI MISTRY $14 billion India/Ireland Construction & Investments

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The Mistry family is the the largest shareholder in India’s largest conglomerate Tata Sons. Mistry otherwise heads Shapoorji Pallonji Group, pioneering builders in India since the 1860s, credited with the creation of some of the country’s most iconic structures. Since the 1970s, the company has also had a signi cant presence in the Gulf. It is currently engaged in a $200 million venture to construct 20,000 affordable homes in India. Mistry, recipient of India’s third highest civilian award Padma Bhushan, is now an Irish citizen.

DAVID AND SIMON REUBEN $15.8 billion UK/Switzerland Property & Internet

Uday Kotak

$7.8

billion India Financial Services

Uday Kotak set up a small nance company Kotak Capital Management Finance in 1985, and converted it into Kotak Mahindra Bank with branches across India and of ces in London, New York, Dubai, Abu Dhabi, Mauritius and Singapore. It also has a stake in MCX, India’s largest commodities exchange. Last year, it acquired the rival ING Vyasya Bank.

The Reuben brothers are Mumbai-born Jews. Starting in metals in the 1990s, they reportedly controlled 7% of the world’s aluminium trade. Their property portfolio includes prime buildings in London, as well as airports and heliports. They are leading investors in the UK’s Metro Bank and also own Global Switch, a data hosting company. Reubros and Aldersgate Investments, controlled by them, are estimated to be worth $14.4 billion. Their net worth has taken a hit because of the lower value of the pound after the Brexit vote.

LAKSHMI MITTAL AND FAMILY $13 billion UK Steel

4 7

As chief executive of the Luxembourg-headquartered ArcelorMittal, Lakshmi Mittal seems to be as strong as the steel he makes. After a $7.9 billion loss in 2015 due to an industry-wide crisis caused by over-capacity and dumping by China, the world’s largest steelmaker made a pro t of $1.8 billion in 2016. Mittal moved from Kolkata to Indonesia before settling in Britain in 1995, where he was declared the wealthiest person for eight years, but is now only 11th on the Sunday Times Rich List.

Sunil Mittal And Family

$6.3 billion

India

Telecom

Bharti Airtel, controlled by Sunil Mittal and his family with SingTel of Singapore, is the world’s third largest telecom company by way of subscribers. Airtel is engaged in a price war with Reliance Jio in the 4G data space. Airtel enjoys a presence in about 18 countries in Asia and Africa. Mittal has also recently launched Airtel Payment Bank.

Gautam Adani And Family

$6.3 billion

India

Infrastructure & Energy

Gautam Adani is known as much for his business interests in ports and power as he is for his close association with Indian Prime Minister Narendra Modi. In 2014, he acquired major ports in eastern and southern India. He has received approval for a coalmining project in Queensland but the plan has also raised environmental concerns.

ANAND BURMAN AND FAMILY

$5.8 billion

India

Dabur India Limited is one of India’s leading FMCG companies and the world’s largest in Ayurvedic and natural health care. Its products are available in 120 countries, with 30% of its revenues coming from outside India. Two-thirds of the company is owned by the Burman family, with Anand Burman as its chairman.

Shashi And Ravi Ruia

$6 billion

India

Energy, Telecom & Logistics

The Essar Group of the Ruias deals in marine construction, offshore support services, oil, steel and energy. In 2014, laden with debt, the group de-listed from the London Stock Exchange at a heavy discount as compared to its 2010 otation price. The group recently sold their Essar Oil and a port to Russian oil producer Rosneft.

RAHUL BAJAJ AND FAMILY

$5.7 billion

India

Motorcycles

Pioneers in making two-wheelers and threewheeler auto-rickshawswhich sell beyond Indian shores - Bajaj Motors is now run by Rahul Bajaj’s son Rajiv. Bajaj is also into home appliances, lighting, iron and steel, insurance, travel and nance. Rajiv’s recent remarks suggest that he is disillusioned with the Indian government.

Benu Gopal Bangur

$5.9 billion

India Cement

Inheriting an underperforming cement company in a family carve out in 1992, Benu Gopal Bangur turned it around. Kolkata-based Shree Cement has in recent years maintained its buoyancy despite bearish demand. Bangur is reputed to reside in a 51,000 square foot mansion which possesses a temple, home theatre, a gym and volleyball court.

VIKRAM LAL

$5.5 billion

India

Motorcycles

Eicher, which used to make tractors, switched to manufacturing motorbikes by acquiring a majority stake in En eld India. After growing more than 50% annually in India since 2010, it has partnered with Volvo to make trucks and personal utility vehicles. Vikram Lal, who oversees operations with his son Siddhartha, commands a 55% share of Eicher.

SRI

Prakash

LOHIA

$5.2 billion

India

Petrochemicals

Indorama is the world’s largest producer of polyester. In addition to Indonesia, it has production plants in Malaysia, India, Sri Lanka, Uzbekistan, Turkey and Senegal. In London, he and his wife Seema bought and restored a 1772 ve storey mansion known as Sheridan House for around $66 million.

PANKAJ

Patel

$4.6 billion

India

Pharmaceuticals

Pankaj Patel’s Cadila Healthcare claims to have discovered a new drug for diabetes. Its Zydus Wellness division makes a popular sugar substitute called Sugar Free. It took a hit though when US authorities warned it of contravening manufacturing standards at two of its factories. 30% of its annual revenues come from the US.

SAVITRI JINDAL AND FAMILY

$5.1 billion

India

Steel, Power & Energy

Savitri Jindal took charge after the death of her husband Om Prakash in a helicopter crash in 2005, and delegated the four divisions of the company - steel, power, mining and oil and gas - to her four sons, Prithviraj, Sajjan, Ratan and Naveen. Apart from JSW Steel operated by Sajjan, the other businesses have declined.

Subhash Chandra

$4.5 billion

India

Media

The interests of Essel Group headed by Subhash Chandra, a BJP member of parliament, include the world’s largest speciality packaging company and amusement parks. But it is best known for its media-related business led by the Zee TV Group. Chandra’s Hindi channels are distributed in 169 countries, where they are watched mainly by overseas Indians and Pakistanis.

DESH BANDHU GUPTA

$4.9 billion

India

Pharmaceuticals

Lupin, founded by chemistry professor Desh Bandhu Gupta, is one of India’s top generic medicine rms and a global leader in anti-TB drugs. With its day-to-day running in the hands of his daughter Vinita and son Nilesh, it derives more than half its income from Japan and the US.

FEROZ ALLANA

$4.3 billion

UAE

Food

KUSHAL PAL SINGH

$4.3 billion

India

Real Estate

MICKY JAGTIANI

$4.3 billion

Dubai

Retail & Hotels