Flipkart's Bansals make their debut on the Forbes India billionaire list with net worth of $1.3Bn each

E-commerce giant Flipkart's founders Sachin and Binny Bansal (not related to each other) made their debut on the country's top 100 rich list as per Forbes magazine's latest India rich list released yesterday. It is to be noted that the Bansals are country's first e-commerce billionaires as well. The Bansals made their debut at 86th position with a net worth of USD 1.3 billion each.

Industrialist Mukesh Ambani was named India's richest for ninth year in a row with a net worth of USD 18.9 billion. Ambani was followed by Sun Pharma's Dilip Shanghvi as second richest with a net worth of USD 18 billion, while Wipro's Azim Premji retained his third place with USD 15.9 billion.

The combined wealth of India's 100 richest persons remained largely unchanged at USD 345 billion, as compared to USD 346 billion in 2014, Forbes said. The magazine said the Indian economy was estimated to grow at 7 per cent this year, but the wealth of many of India's 100 richest have gone down due to decline in the stock markets and depreciation in rupee value over the past one year.

As many as 10 of them saw their net worth dip by over USD 1 billion each in one year, including Lakshmi Mittal, whose net worth dipped to USD 4.6 billion.The list saw as many as 12 newcomers including Flipkart's founders and low cost airline IndiGo's co-founder Rakesh Gangwal who has debuted at 70th position with a net worth of USD 1.6 billion ahead of his company's IPO.

The biggest gainer this year was vaccine maker Serum's Cyrus Poonawalla whose wealth rose from USD 6.2 billion to USD 7.9 million, pushing his rank to the 9th position. Forbes said the minimum threshold for making it to the list has increased from USD 1 billion to USD 1.1 billion in 2015.

The top ten includes:

1. Mukesh Ambani (USD 18.9 billion)

2. Dilip Shanghvi (USD 18 billion)

3. Azim Premji (USD 15.9 billion)

4. Hinduja brothers with (USD 15.9 billion)

5. Pallonji Mistry (USD 14.7 billion)

6. Shiv Nadar (USD 12. 9 billion)

7. Godrej family (USD 11.4 billion)

8. Lakshmi Mittal (11.2 billion)

9. Cyrus Poonawala (USD 7.9 billion) and

10. Kumar Mangalam Birla (USD 7.8 billion).

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