Mukesh Ambani tops Forbes’ India Rich List

India’s rising stock market and a booming economy that’s expanding by 8.5% have boosted the net worth of India’s richest people, according to the latest Forbes’ India Rich List. The combined net worth of India’s 100 richest people is US$300bn, up from US$276bn last year. This year, there are 69 billionaires on the India Rich List, 17 more than last year. Mukesh Ambani, head of Reliance Industries, has topped the latest Forbes’ India Rich List with a net worth of US$27bn, for the third consecutive time. Steel magnate Lakshmi Mittal, remains at No. 2 with a net worth of US$26.1bn. However both are less well off than they were a year ago. Moving up to third position this year is IT outsourcer Wipro’s Azim Premji. His wealth increased to US$17.6bn from US$14.9bn last year amid an improving outlook for the sector. Also improving on their previous ranking to No. 4 are brothers Shashi and Ravi Ruia with US$15bn, more than their last year’s net worth of US$13.6bn. The IPO of their Essar Energy in May, which raised US$1.85bn, was the largest ever listing in London by an Indian company.