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India rich club: Business families' fortune is worth $55 bn!
As many as 20 business families have found a place on latest list of India's 100 richest, with a collective fortune of $55 billion.
While Forbes magazine's India Rich List remains dominated by individual business leaders, those making the mark along with their family members are also quite a few and also include three in the top 10 -- Hinduja Brothers (6th place), Adi Godrej & family (8th position) and Sunil Mittal & family (10th).
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India rich club: Business families' fortune is worth $55 bn!
Individually, Reliance Industries chief Mukesh Ambani continued to be India's wealthiest for sixth year in a row, with a net worth of $21 billion while his younger sibling Anil Ambani bagged the 11th position with a fortune of $6.2 billion.
According to Forbes, Hinduja Brothers with a fortune of $9 billion scored the sixth rank, while Adi Godrej & family with a net worth of $8.3 billion are spotted at the eighth place.
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India rich club: Business families' fortune is worth $55 bn!
Sunil Mittal & family are ranked at 10th spot with a wealth of $6.6 billion.
Families in the top 20 list included Shashi & Ravi Ruia who bagged the 12th position with a wealth of $5.5 billion, while Savitri Jindal & family stood at the 14th rank with a fortune of $4.9 billion and Bajaj Family at 20th spot with a wealth of $3.1 billion.
As per US-based business magazine Forbes' annual list of India's 100 richest, released on Tuesday, their total wealth grew by a modest 3 per cent from a year ago to $259 billion.
Besides, the list comprises of 20 business families with a collective fortune of $55.52 billion.
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India rich club: Business families' fortune is worth $55 bn!
Out of these 20 families, majority of them are billionaires and only four are millionaires.
"Growth in wealth was lacklustre due to India's stumbling economy, which has been hit by inflation and a falling rupee," Forbes said.
Among others families in the list included Malvinder & Shivinder Singh ($2.3 billion), Reddy family (Dr Reddy's) at $1.75 billion, Kapil & Rahul Bhatia ($1.71 billion), N R Narayana Murthy & family ($1.64 billion), Rajan Raheja & family ($1.62 billion), Senapathy Gopalakrishnan & family ($1.39 billion) and Nandan Nilekani & family ($1.3billion).