India’s richest man has over three times more wealth than the second-richest

Never enough.
Never enough.
Image: REUTERS/Shailesh Andrade
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Even the richest Indians hardly match up to Mukesh Ambani’s wealth.

The net worth of India’s richest man, Ambani, increased 73% over the past year to nearly $89 billion (Rs6.52 lakh crore), as per Forbes’ list of the top 100 richest Indians released today (Oct. 8). The second wealthiest person on the list, Gautam Adani, is miles behind at $25.2 billion.

Ambani, who has been at the top of Forbes rich list for 13 years in a row, is solely responsible for more than half of the rise in the collective net worth of the country’s rich persons this year, Forbes India said.

The collective net worth of India’s 100 richest persons rose 14% this past year despite the Covid-19 pandemic and an underwhelming stock market, as per Forbes India.

Ambani, the chairman of oil-to-telecom major Reliance Industries, was mostly unfazed by the pandemic-triggered slump as Reliance Industries’ share price has risen sharply this year mostly due to the positive sentiment for the company’s digital arm, Jio Platforms, which has raised over $20 billion from top investors like Facebook and Google in recent months.