DeMo impact: India loses 11 billionaires, Mukesh Ambani still richest
March 07, 2017  23:32
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India's richie rich club has shrunk by 11 people since the demonetisation last November, while Mukesh Ambani remains the richest Indian with a net worth of USD 26 billion, a study showed today.
     
The country now has 132 billionaires with a net worth of USD 1 billion or more and the cumulative wealth of the ultra- rich people stood at USD 392 billion, according to Hurun Global Rich List India.
     
Though there has been a fall in number of billionaires in the country since demonetisation, the aggregate total wealth of the ultra-rich people has increased by 16 per cent over last year, the report said.
     
In the list of top 10 richest people Ambani is followed by the SP Hinduja & family, at the second position with a net worth of USD 14 billion, followed by Dilip Shanghvi, at the 3rd position with a wealth of USD 14 billion.
     
Others in the top 10 billionaires include, Pallonji Mistry at the fourth place at USD 12 billion, Lakshmi N Mittal (5th, USD 12 billion), Shiv Nadar (6th, USD 12 billion), Cyrus Poonawalla (7th, USD 11 billion), Azim Premji (8th, USD 9.7 billion), Uday Kotak (9th, USD 7.2 billion) and David Reuben and Simon Reuben at the 10th place with USD 6.7 billion.
     
According to the report, since demonetisation on November 8, India lost 11 billionaires.
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