India’s Richest 2018: Mukesh Ambani Adds Another $9.3 Billion To Retain Top Spot


New Delhi: Reliance Industries Limited Chairman and Managing Director Mukesh Ambani on Thursday retained his top position in the annual Forbes India Rich List 2018 with a total net worth of $47.3 billion.


Ambani is also the year’s biggest gainer, adding $9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.

It may be noted that this is the 11th consecutive year Ambani has dominated the list and is around $26.3 billion richer than the second man on the list, Wipro Chairman Azim Premji with a wealth of $21 billion.

The third position was secured by Lakshmi Mittal, the Chairman and CEO of Arcelor Mittal, with a net worth of $18.3 billion. Behind him was the Hinduja family ($18 billion)—Ashok, Gopichand, Prakash and Srichand—who ranked fourth on the US-based business magazine’s list.

The fifth and sixth sort went to billionaire construction tycoon Pallonji Mistry ($15.7 billion) and HCL Chairman and founder Shiv Nader.

Biotechnology pioneer Kiran Mazumdar-Shaw has emerged as the biggest percentage gainer of the year. One of only four women on the list, her net worth rose 66.7 per cent to $3.6 billion. In terms of net worth, she stood at 39th spot.

A major part of the venture’s success depends on providing low-cost mobile phones and cheap internet connections to citizens; Reliance has already released the latest version of the Jio Phone. Among other things, Reliance Jio is also planning to drop a bomb with its Jio Gigafiber broadband fixed-line high-speed internet service.

Apart from the successes in business ventures this year, Ambani had two major reasons to be a happier man. His eldest son Akash Ambani got engaged to his childhood love Shloka Mehta earlier this year and his daughter Isha Ambani got engaged to Anand Piramal, the executive director of Piramal Group, in a grand 3-day ceremony in Italy’s Como.