Unequal distribution of Income and Wealth proved to be true in the case of India. While people in India are struggling to survive amidst Covid-19 health and financial crisis, there are billionaires who keep on accumulating more wealth. Nearly 828 Indians have wealth of more than ₹1000 crore.
The gap between the rich and the poor is getting broader each day. There are many billionaires who reside in India, but still, the country is experiencing the lowest GDP in 10 years.
While Covid-19 proved to be a setback for some businessmen, others made quite a fortune. Mukesh Ambani wealth increased from ₹2,77,700 crore to ₹6,58,400 crore.
Top 5 Billionaires in India:
The number one name on the list will not at all surprise you. Here are the five richest people in India.
He is the owner of Reliance Group of Industries. His current wealth is ₹6,58,400 crore. His total wealth increased by 73% in just a span of 1 year.
They are the owners of Hinduja Company. Their current wealth is ₹1,43,700 crore. Their total wealth increased by 23% in 2020.
Shiv Nadar& Family:
They are the owner of HCL Company. Their current wealth is ₹1,41,700 crore. The total wealth has increased by 34% since 2019.
Gautam Adani & Family:
They are the owners of Adani Company. Their current wealth is ₹1,40,200. Ever since 2019, their total wealth has increased by 48%.
Azim Premji Family:
They are the owner of Wipro Company. Their current wealth is ₹1,14,400 crore. Ever since 2019, their total wealth has increased by 2%.
How Mukesh Ambani Increased His Wealth?
Mukesh Ambani is not only the richest man in India and Asia but also the 4th richest man in the world. The top 4 richest men are,
- Jeff Bezos (Amazon): $204.6 billion
- Bill Gates (Microsoft): $120 billion
- Mark Zukerberg (Facebook): $111 billion
- Mukesh Ambani (Reliance):$88.8 billion
In 2020, Ambani’s wealth increased from ₹2,77,700 crore to ₹6,58,400. He has been the richest man in India for over nine years now.
Recently, he crossed the net worth of Elon Musk, Larry Page and Sergey Brin to reach the 4th rank.
Ever since Covid-19 came to India in March, Ambani has earned nearly ₹90 crores an hour. He earns ₹2,160 crores in a day.
He is the only Indian to ever enter the top 5 richest people’s list. He is also the richest man in Asia. The other top 5 richest people in India fail to reach his level even if they combine their wealth.
Earlier, he was only into telecom and oil but ever since Covid-19 he started expanding his company. There has been a 73% increase in his wealth since 2019.
His valuation has improved by 85%. When the pandemic started, his wealth went down by 28%. After that, he made several investment decisions. He sold a few stakes to Facebook, Silver Lake, and Google. After that, his valuation increased by 855 in just four months’ time.