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| Edited By: |Source: DNA |Updated: Mar 17, 2018, 05:29 AM IST
The net worth of all the five city-based businessmen increased by 54% in 2010 -much higher than the rally of Sensex and Nifty in Indian stock bourses.
The indices increased by 17% and 18% respectively.
The total net worth of the five Amdavadi businessmen — Gautam Adani of Adani Group, Sudhir and Samir Mehta of Torrent Group, Pankaj Patel of Zydus Cadila, Karsanbhai Patel of Nirma and Bhadresh Shah of AIA Engineering — in the Forbes list has increased by Rs25,947 crore to around Rs73,579 crore in 2010.
Their total net worth was Rs47,632 crore in 2009.
In September 2009, Sensex closed at 17,126 and Nifty traded at 5,083 points. In one year, with lot of volatility, both the indices witnessed ups and downs. On Thursday, Sensex closed at 20,069 while Nifty at 6,029. Interestingly, the growth of net worth of Gautam Adani, Mehta brothers and Pankaj Patel is much higher than the growth of stock market indices. Still together, the total net worth of five Amdavadis is far less compared to the richest Indian on the planet, Mukesh Ambani of Reliance Industries whose net worth is more than Rs1.20 lakh crore.
For the past several years, Mukesh Ambani has been ranked as the richest Indian, and even this year he is on top with a net worth of $27 billion.
As per the list of the 100 wealthiest Indians compiled by Forbes, the combined net worth of India’s 100 richest people rose to $300 billion this year from $276 billion last year, driven by the country’s booming economy and a rally in the stock market.
Ambani was followed in the list by steel baron Lakshmi Mittal, who retained his second position in the Forbes India Rich List with a net worth of $26.1 billion.
However, the wealth of both of these billionaires as calculated by Forbes is believed to be 15% lower than their fortunes in the previous year. Mukesh’s younger sibling Anil Ambani lost the third spot on the list to IT major Wipro chairman Azim Premji and is now ranked sixth on the list. Anil Ambani’s net worth of $13.3 billion is less than half of that of his elder brother, Mukesh.
