Combined wealth of Indian billionaires grew 26% in FY22: Report - Times of India

Combined wealth of Indian billionaires grew 26% in FY22: Report – Times of India

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NEW DELHI: The total number of billionaires in India rose to a record 166 in fiscal year 2021-22, about 18.5 per cent higher than previous year, a report by Forbes showed on Tuesday.
The combined wealth of the billionaires grew nearly 26 per cent to $750 billion, the report added. In addition, the top 10 richest people in India added one-third more wealth as compared to a year ago.
Reliance Industries chairman Mukesh Ambani continued to remain Asia’s richest man. He is also the 10th richest person in the world with a net worth of $90.7 billion.
Adani Group chief Gautam Adani added almost $40 billion to his fortune to become Asia’s 2nd richest person.

“Both Ambani and Adani are leading India’s charge into green energy with multi-billion dollar investments planned for the next decade or so,” the report said.
With a record revenue of $200 billion, the IT sector showed a robust performance during the year.
Shiv Nadar, chairman of HCL Technologies witnessed 22 per cent hike in his wealth and retained position as India’s 3rd richest person.
The report further showed that Serum Institute’s Cyrus Poonawala nearly doubled his wealth to $24.3 billion and moved up four places to no. 4.
Savitri Jindal, chairperson emeritus of the O P Jindal group, a steel and power conglomerate named after her late husband, entered the top 10 richest person this year. With a wealth of $17.7 billion, she’s placed at no. 7.
Nykaa CEO Falguni Nayar became India’s richest self-made woman after the shares of her company were listed on the stock market. She became of the 29 new faces in the Forbes rich list.
Besides, more than 60 companies raised $15.6 billion through IPOs in the last year, the report said.



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