Source : Forbes

#1
Lakshmi Mittal
$11.2 billion / London
54. Married. 2 Children.

This steel titan is set to control the world's largest

steel company when his Ispat International and
LNM Holdings acquire International Steel.
Combined entity will be $30 billion (sales) Mittal
Steel, 88%-owned by Mittal himself.
Associated Companies: Ispat International
Source : Forbes

#2
Azim Premji
$10.0 billion / Bangalore
59. Married. 2 Children.

Owns 84% of $1.3 billion (sales) Wipro, India's

second-biggest InfoTech company, riding
outsourcing wave. Recently traded his eight-year-old
Ford Escort for a new Toyota Corolla.

Associated Companies: Wipro

Source : Forbes

#3
Mukesh & Anil Ambani
$6.4 billion / Mumbai

Two years after the death of their father,

Reliance group's founder Dhirubhai Ambani,
brothers have separated the control of the $22
billion (sales) diversified group.

Associated Companies: Reliance Industries

Source : Forbes

#4
Kumar Mangalam Birla
$3.5 billion / Mumbai
37. Married. 3 Children.

Fourth-generation head of $6 billion (sales)

commodities conglomerate, with operations in
nine countries, including palm oil in Malaysia.
India's largest cement producer.

Associated Companies: Hindalco Industries

Source : Forbes

#5
Pallonji Mistry
$2.9 billion / Mumbai
75. Married. 4 Children.

Construction tycoon benefiting from 18.4% stake in

Tata Sons, holding company of Tata conglomerate,
including Tata Consultancy Services worth $13
billion. Rarely seen in public.

Source : Forbes

#6
Sunil Mittal
$2.6 billion / Delhi
47. Married. 3 Children.

His Bharti group, the country's largest GSM-based

cellular service provider, is benefiting from India's
booming middle class. New venture to export fruits
and vegetables with the Rothschild family.

Associated Companies: Bharti Tele-Ventures

Source : Forbes

#7
Shiv Nadar
$2.3 billion / Delhi
59. Married. 1 Child.

From modest beginnings in his garage, built and still

chairs $1.2 billion (revenues) HCL Group, a leading
InfoTech provider. Commutes between California and
Delhi.

Associated Companies: HCL Group

Source : Forbes

#8
Adi Godrej
$1.9 billion / Mumbai
62. Married. 3 Children

Third generation to head $1 billion (sales) Godrej

Group, whose businesses include soaps, hair
dyes, office furniture and mosquito repellent. One
of Mumbai's biggest landowners, has benefited
from rising real estate prices.
Associated Companies: Godrej
Source : Forbes

#9
Malvinder & Shivinder
Mohan Singh
$1.5 billion / Delhi

Two brothers inherited family's 33.5% stake in

leading pharmaceuticals firm Ranbaxy Laboratories
five years ago because of the premature death of
their dynamic father, Parvinder Singh. Older brother
Malvinder was recently named to its board, while
Shivinder looks after a subsidiary.
Associated Companies: Ranbaxy
Source : Forbes

10

#9
Dilip Shanghvi
$1.5 billion / Mumbai
49. Married. 2 Children.

With loan from his father started manufacturing

psychiatric drugs in 1983. His Sun Pharmaceuticals
has a stake in Caraco Pharmaceutical Labs, a U.S.
generic drug company.

Associated Companies: Sun Pharmaceuticals

Source : Forbes

11

#11
Anil Agarwal
$1.2 billion /
London/Mumbai
51. Married. 2 Children.

Turned small scrap metal business into metals and

mining company with copper, zinc and aluminum
assets. Listed his Vedanta Resources on the London
Stock Exchange last year, raising $825 million.

Source : Forbes

12

#12
Shashi & Ravi Ruia
$1.1 billion / Mumbai

Brothers turned modest inheritance into $4.4 billion

(assets) Essar Group with interests in steel,
shipping, power, construction and telecom.
Dragged down by debt but now rebounding.

Associated Companies: Essar Group

Source : Forbes

13

#13
Om Prakash Jindal
$1.0 billion / Delhi
74. Married. 9 Children.

Founder of $3 billion (sales) Jindal Group,

started out trading steel pipes. Carved up steel
and-power conglomerate among four sons who
run their groups independently.

Associated Companies: Jindal Group

Source : Forbes

14

#14
Rahul Bajaj
$850 million / Pune
66. Married. 3 Children.

Since 1965 has run $1.1 billion (sales) Bajaj

Auto, flagship of Bajaj Group founded by his
grandfather, a confidante of Mahatma Gandhi.
Tensions with estranged brother Shishir
threaten to divide this fortune.
Associated Companies: Bajaj Group
Source : Forbes

15

#15
N R Narayana Murthy
$825 million / Bangalore
58. Married. 2 Children.

Son of a small-town schoolteacher, he and six

partners founded $1 billion (sales) Infosys
Technologies, now a leading software firm
benefiting from outsourcing boom. Remains
chairman.
Associated Companies: Infosys Technologies
Source : Forbes

16

#16
Subhash Chandra
$760 million / Mumbai
54. Married. 3 Children.

Former rice trader, launched Zee TV in 1992. Now

reaches 250 million viewers. At peak, worth $3
billion. After a parade of professionals, entrusted
operations to relatives. Other interests: packaging,
theme parks.
Associated Companies: Zee Network
Source : Forbes

17

#16
Yusuf Hamied
$760 million / Mumbai
68. Married.

Heads leading generics producer Cipla, founded

by his father in 1935. With brother, owns 41% of
company. Nicknamed "drug pirate" for knocking
off AIDS drugs and selling them at steep discount.
Runs free cancer hospital.
Associated Companies: Cipla Pharma
Source : Forbes

18

#16
Brijmohan Lall Munjal
$760 million / Delhi
81. Married. 4 Children.

Started out making bicycle parts. Now his $2

billion (sales) Hero Group is world's biggest
bicycle producer; Honda's Indian partner for
motorcycles.

Associated Companies: Hero Group

Source : Forbes

19

#19
Habil Khorakiwala
$630 million / Mumbai
62. Married. 3 Children.

Has run Wockhardt, pharmaceutical offshoot of

family's retail group, since 1966. Over half of its
revenues come from selling cheap generics
overseas. Established U.S. subsidiary this year
and plans to seek U.S. listing. Owns a chain of
specialty hospitals.
Source : Forbes

20

#20
Vivek Burman
$600 million / Delhi
64. Married. 2 Children.

Chairman of 120-year-old Dabur, household

name in ayurvedic products ranging from hair
oils and fruit juices to cancer drugs. Founded by
his great-grandfather, a doctor who concocted
herbal cures for poor villagers.
Associated Companies: Dabur
Source : Forbes

21

#21
Nandan Nilekani
$570 million / Bangalore
49. Married. 2 Children

Infosys cofounder and chief executive. Pushing

for better governance in Bangalore.

Associated Companies: Infosys Technologies

Source : Forbes

22

#22
S Gopalakrishnan
$555 million / Bangalore
50. Married. 1 Child.

Infosys cofounder and chief operating officer.

Chairs Infosys Consulting, U.S.-based arm
launched this year.

Associated Companies: Infosys Technologies

Source : Forbes

23

#23
N S Raghavan
$550 million / Bangalore
59. Married. 2 Children.

Infosys cofounder, retired to pursue charity

work. Chairs entrepreneurial studies center and
founded nonprofit for the mentally challenged.

Associated Companies: Infosys Technologies

Source : Forbes

24

#24
Narendra Patni
$530 million / Boston/Mumbai
62. Married. 2 Children.

MIT graduate, cofounded Patni Computer Systems

with his two brothers in 1978. Still runs the group,
which went public last year and acquired Californiabased outfit Cymbal Corp. in October. Fancies red
wine and BMWs.
Associated Companies: Patni Computer Systems
Source : Forbes

25

#24
Ajay Piramal
$530 million / Mumbai
49. Married. 2 Children.

Inherited fading textile empire at age 28.

Expanded into pharmaceuticals by acquiring local
operations of international drug companies pulling
out of India, creating flagship company Nicholas
Piramal. Opened Mumbai's first shopping mall.

Source : Forbes

26

#26
Vijay Mallya
$510 million / Bangalore
49. Married. 3 Children.

Liquor tycoon, controls and runs the UB Group,

India's largest spirits marketer. Launching Kingfisher
Airline, named after UB's bestselling beer. Owns
racehorses, vintage cars, private jets and yachts.

Associated Companies: UB Group

Source : Forbes

27

#26
Pankaj Patel
$510 million / Ahmedabad
53. Married. 2 Children.

Runs generic drug company Zydus Cadila. His

father and partner cofounded Cadila 52 years
ago. Two families split in 1995. Has since been
growing through acquisitions.

Associated Companies: Zydus Cadila

Source : Forbes

28

#28
Baba Kalyani
$500 million / Pune
55. Married. 1 Child.

Second generation to head $900 million (sales)

Kalyani group, whose Bharat Forge is Asia's largest
forging company. Makes auto parts and specialty
steels with, among others, Germany's Bosch.

Associated Companies: Kalyani Group

Source : Forbes

29

#29
B Ramalinga Raju
$495 million / Hyderabad
49. Married. 2 Children.

Branched out from family construction business in

1987 to start a software shop. His NYSE listed
Satyam Computer is now one of India's top InfoTech
companies.

Associated Companies: Satyam Computers

Source : Forbes

30

#30
Kiran Mazumdar-Shaw
$455 million / Bangalore
51. Married.

India's biotech pioneer, co-founded Biocon in

1978. Now India's richest woman, thanks to
group's March public offering. Husband John Shaw
has his own stake, worth $275 million.

Associated Companies: BioCon

Source : Forbes

31

#31
Karsanbhai Patel
$435 million / Ahmedabad
60. Married. 3 Children.

Onetime struggling chemist, started mixing

detergent in his backyard in 1969. Now his
Nirma brand is India's biggest, outselling
Unilever and Procter & Gamble. His two sons
run the business.
Associated Companies: Nirma
Source : Forbes

32

#32
K Dinesh
$410 million / Bangalore
50. Married. 2 Children.

Infosys cofounder previously managed projects

in the U.S. Now heads several departments,
including human resources and information
systems.

Associated Companies: Infosys Technologies

Source : Forbes

33

#33
Uday Kotak
$380 million / Mumbai
45. Married. 2 Children.

Founded finance firm in 1985. A leading

investment banking firm, it recently renamed itself
Kotak Mahindra Bank and moved into commercial
banking. Has joint ventures with Goldman Sachs
and Ford Credit. He plays the sitar.
Associated Companies: Kotak
Source : Forbes

34

#34
S D Shibulal
$370 million / Boston
49. Married. 2 Children.

Infosys cofounder. Heads global

customer delivery. Started charity with
wife to help poor children.

Associated Companies: Infosys Technologies

Source : Forbes

35

#35
K Anji Reddy
$350 million / Hyderabad
63. Married.

A farmer's son, founded Dr. Reddy's Laboratories

in 1984. Now India's second-largest maker of
generic drugs. Runs company with son and son-inlaw.
Associated Companies: Dr. Reddys Laboratories
Source : Forbes

36

#35
Narotam Sekhsaria
$350 million / Mumbai
55. Married. 2 Children.

Former cotton trader Sekhsaria and brother-in-law

Suresh Neotia co-founded Gujarat Ambuja
Cements in 1986, one of India's biggest cement
producers.

Associated Companies: Gujarat Ambuja Cements

Source : Forbes

37

#37
Jaiprakash Gaur
$340 million / Delhi
73. Married. 5 Children.

Resigned from government job to start a

construction company in 1972. Now his $650
million (sales) Jaypee Group builds bridges,
expressways, dams, even golf course. Also has
interests in hotels, cement, education and
technology.
Associated Companies: Jaypee Group
Source : Forbes

38

#38
Shyam & Hari Bhartia
$315 million / Delhi

Brothers converted family's commodities business

into diversified group with interests in speciality
chemicals, pharmaceuticals, bioinformatics, oil and
gas and Domino's Pizza franchise. Shyam is
married to publishing heiress.

Source : Forbes

39

#38
Keshub Mahindra
$315 million / Mumbai
81. Married. 3 Children.

Chairman of Mahindra Group, founded by his

father and uncle. Its Mahindra & Mahindr is India's
largest tractor-maker. Also has interests in hotels,
telecom, real estate, software and financial
services. Nephew Anand now in charge.
Associated Companies: Mahindra & Mahindra
Source : Forbes

40

#40
Desh Bandhu Gupta
$305 million / Mumbai
67. Married. 5 Children.

Former chemistry teacher, borrowed $120 from his

wife and bought a tiny vitamin company, Lupin, in
1968. Now one of India's leading pharmaceuticals
and world leader in anti-tuberculosis drugs. Wife
Manju and daughter Vinita sit on board.
Associated Companies: Lupin Pharmaceuticals
Source : Forbes

41

NOTES
Eleven of the list made their money in technology,
including six who were cofounders of software firm
Infosys Technologies.
Nine of the list owe their fortunes to pharmaceuticals.
Thus two high-growth industries, technology and
pharmaceuticals, account for half of India's top 40
richest.
Biotech pioneer Kiran Mazumdar-Shaw is the sole
female on the list.
Nineteen of the 40 richest started entirely from
scratch.
Mumbai is home to 40% of list members, others hail
from emerging hot spots like Bangalore and Delhi.
A minimum net worth of $305 million was considered
to make the cut for the list.
Source : Forbes

42