Lakshmi Mittal richest Indian says Forbes list

Nov 16: The Golden Era of India seems to have arrived with Sensex zooming to new high and Indian billionaires becoming more in number.

According to Forbes India’s 40 richest lists, Lakshmi Mittal maintains his supremacy as the richest Indian for the fourth consecutive year with a wealth of $51 billion.

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Mukesh Ambani remains second with $ 49 billion and trailing behind him is his younger brother Anil with wealth worth $ 45 billion.

Kushal Pal Singh of DLF has snatched the forth position from Wipro’s Azim Premji.

Forbes said that the four richest Indians are worth an astonishing $ 180 billion and the combined wealth of these four exceeds the combined wealth of China’s 40 richest.

It mentioned that the element behind the surge is the booming stock market.

The minimum net worth required to make it to the list this year was $1.6 billion, which was $790 million last year.

Those who could not manage to make it to the list were the founder of Jet Airways Naresh Goyal with an asset of worth $1.55 billion, Nandan Nilekani and Senapathy Gopalakrishnan, founders of Infosys, and Jignesh Shah, who founded the commodities exchange MCX, Murali K Divi and India’s bullish investors Rakesh Jhunjhunwala.

India now earns the distinction of having more number of millionaires than other Asian countries; earlier the title was with Japan. The Forbes lists suggest that the number of billionaires have increased over the past 12 months.

Ten new people made it to the list of India's top billionaires in the Forbes list of the World’s Richest People in 2007.

But the irony of India is that more than 400 million people thrive on less than $1 per day.