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. Surging past tech titan Elon Musk and Alphabet co-founders Sergey Brin and Larry Page to become the world’s fourth-richest person, Ambani has earned 90 cr every hour since the March lockdown this year, as per the IIFL Wealth Hurun India Rich List 2020.
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 pc reduction. They are followed by HCL’s Shiv Nadar and family whose fortunes rose 34 pc to Rs 1.41 lakh crore. Wipro’s Azim Premji is at 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.