Adani, Ambani get richer despite Covid impact

September 29, 2020 17:37

The personal net worth of Reliance Industries chairman Mukesh Ambani rose by 73 per cent to Rs 6.58 lakh crore, helping him retain the title of being the richest Indian for the ninth consecutive year with a wider margin, according to a report released on Tuesday. Ambani, 63, who has been selling stakes in telecom and retail arms lately leading to a strong performance in the Reliance Industries stock price, is also in the top five at a global level, the report prepared by Hurun in association with IIFL Wealth said.

The rankings come at a time when the COVID-19 pandemic has resulted in a deep economic impact on the lives and fears are being expressed about a K-shaped recovery, which will result in more inequalities in the society.

The list identified 828 Indians who are worth over Rs 1,000 crore as of August 31 and made it to the list of richest Indians.

Cyrus Mistry and Shapoor Mistry of Shapoorji Pallonji group, which is seeking nearly Rs 1.78 lakh crore for its 18 per cent stake in Tata Sons, saw a 1 per cent decline in their wealth at Rs 76,000 crore each.

Gujarat-based Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers, who are reported to be in a property dispute, are worth Rs 1.43 lakh crore and were able to retain the second standing despite a 23 per cent reduction, according to the list.

They are followed by HCL's Shiv Nadar and family whose fortunes rose 34 per cent to Rs 1.41 lakh crore. Wipro's Azim Premji slipped two places to fifth in the rankings with fortunes of Rs 1.14 lakh crore. The world's largest vaccine maker Serum Institute of India's Cyrus Poonawalla had a 6 per cent rise in wealth at Rs 94,300 crore and was at sixth place.

D-Mart's Radhakishan Damani and family broke into the top-ten with a 56 per cent rise in wealth to Rs 87,200 crore. Kotak Mahindra Bank promoter Uday Kotak saw an 8 per cent reduction in his net worth to Rs 87,000 crore, slipping one place to being the eighth richest Indian.

« Back to LIVE

TOP STORIES

Raj Bhavan employee files molestation case against Bengal guv

Senior police officials said they received a complaint and are looking into it.

Intense heat sweeps east, south; more heat wave days likely in May

Intense heat swept through east India and parts of the southern peninsular region on Thursday, testing power grids and prompting the Kerala government to order closure of educational institutions till May 6.

Cummins hails Bhuvi's last-ball heroics

Defending 12 in the final over, Bhuvneshwar trapped Rovman Powell in front of the wicket in the last ball to stop Rajasthan Royal's run chase at 200 for 7 and pull off a heist in the end.

'Game never done till it's done': Samson rues loss

Rajasthan Royals skipper Sanju Samson said that even while it seemed his side was cruising to victory he was not certain they would get over the line given the unpredictable nature of the league.

In Pictures - SRH seal dramatic win, edge past RR by 1 run

IMAGES from the IPL match between Sunrisers Hyderabad and Rajasthan Royals played in Hyderabad on Thursday