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India's rich list: Top wealth gainers & losers in last 5-7 years
ET Bureau
Synopsis
The most notable change has been Sun Pharma's Dilip Shanghvi pipping Mukesh Ambani. The list has seen many additions and deletions.
ET BureauThe list of India’s billionaires has seen a major shuffle in the last 5-7 years, the most notable change being Sun Pharma’s Dilip Shanghvi pipping Mukesh Ambani as the richest Indian. The list has seen many additions and deletions. Shanghvi’s personal wealth has risen from $1.27 billion in March 2005 to $23.12 billion currently, thanks to the stellar runup in Sun Pharma’s stock price.
Meanwhile, Mukesh Ambani’s wealth has declined from $35 billion to $22 billion in the past five years, as Reliance Industries’ shares have underperformed the benchmark indices for almost seven years. The most notable additions in the group have been of Gautam Adani, Uday Kotak and Lupin’s Desh Bandhu Gupta. Anil Ambani, DLF’s KP Singh and GMR’s GM Rao have lost wealth in the last few years because of the sharp decline in the stock prices of their companies.
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