11 Indians Getting off the Billionaire List a Demonetization Impact?

Since November 8th, we have read several impacts of Demonetization. Well, this time, we have an interesting impact of Demonetization to discuss about. The note ban impact deals with the super rich, wealthy owners present in India. According to reports, there are 11 former Indian billionaire that has lost their status of “being billionaire”. We also know that this year, the total wealth of the richest has increased by 16 per cent as compared to the last year. This demonetization is affecting each and every person individually it seems. Let’s have a look at the various perspective involved with this impact.

• Mukesh Ambani Still Continues To Be the Richest Indian Billionaire:

Obviously, the number of billionaires is reduced this year, the chairman of Reliance Industries Ltd; Mr. Mukesh Ambani continues its path to be the India’s richest billionaire. He has a fortune of Rs. 1,75,400 crores, an approximate value of $26 billion. All these reports are according to the Hurun Rich List Report. While Mukesh Ambani is on the top list in India, he has achieved a rank of 28 globally, out of a total of 132 individuals.

• The various other Indians in the Hurun Rich List Report:

• Srichand P Hinduja, the chairman of the Hinduja group of Companies has obtained a global rank of 74. He has an asset worth of Rs. 1,01,000 crores, which accounts to an approximate value of $14 billion. He is the second-most richest Indian billionaire.
• Dilip Shanghvi, who is the founder of Sun Pharmaceuticals, is the third-most richest Indian billionaire. He has a fortune of Rs. 99,000 crores, which amounts to again $14 billion. Hence, he also occupies a global rank of 74.
• Pallonji Mistry, who is best regarded as the Indian Construction Tycoon has occupied a global position of 97. He is the fourth richest Indian billionaire, with an asset worth of Rs. 82,700 crores, an approximate value of $12 billion.
• Lakshmi N. Mittal, the chairman of Arcelor Mittal is placed at a global rank of 97. He is the largest steel maker in the world and has asset worth of Rs. 81,800 crores. Since this amount is roughly equal to $12 billion, he and Mistry occupies the same position globally. Although, he is the fifth-largest Indian billionaire.
• Shiv Nadar is also placed at a global rank of 97, since he also has a fortune worth of around 412 billion. He is the most popular industrialist cum philanthropist, who occupies sixth position in India, with as asset worth of Rs. 81,200 crores.

• The Following People Also Continued To Be On The List:

• Commonly known as the Vaccine billionaire, Mr. Cyrus Poonawalla is the seventh richest Indian billionaire. He is given a global rank of 106, as the total worth of his assets is Rs. 75,400 crores, which is equal to $11 billion.
• The eighth richest Indian billionaire is Azim Premji. He has a wealth of Rs. 66,300 crores, an approximate value of $ 9.7 billion and occupies a global rank of 134.
• A global rank of 134 is also shared by Mr. Uday Kotak, and he is the ninth richest Indian billionaire. Kotak is the one and only individual found from the banking sector in the Hurun Rich List Report.
• David and Simon, the Rueben brothers are the tenth richest Indian billionaire. They share a fortune of Rs. 45,600 crores which is equal to around $6.7 billion.

• No Place In The List For Sachin And Binny Bansal:

One of the 11 billionaires that India lost this year is the E-commerce poster boys. Yes, we are talking about the Bansal brothers, i.e. Sachin Bansal and Binny Bansal. Because of the demonetization, the e-commerce companies were badly affected. Also, it is because of this demonetization only that we have a new entrant in the list. We actually have two new entrants in the Hurun Rich List Report. One of them is Paytm’s Vijay Shekhar. The other new entrant is Directi’s Divyank Turakhia. One interesting fact about Divyank Turakhia is that he is the youngest Indian billionaire. He has a fortune which is worth of $1.2 billion.