Latest Business News - Flipkart founders Sachin and Binny Bansal, who earned dollar billionaire status last year and whose wealth has fallen with successive markdowns of their firm’s valuation, are among the 31 Indian billionaires who are out of the Hurun Global Rich — Indian billionaires report.
Eleven of the 31 have lost their billionaire status since demonetisation. Prominent among them are Gautam Thapar of Crompton Greaves, Nilima Motaparti of Divi’s Labs, Prathap C Reddy & family of Apollo Hospitals, and Nandan Nilekani, an Infosys shareholder. This list is exclusively based on the share price performance of companies after demonetisation.
However, many billionaires have seen their wealth soaring. The cumulative wealth of 132 Indian or Indian-origin billionaires is estimated to have increased to $392 billion, up 16 per cent from last year, says the report.
Twenty-seven billionaires have been added to the list this year. Of the 27 entrants, Acharya Balakrishna of Patanjali Ayurved leads the pack with wealth of $3.6 billion, followed by Nadir B Godrej and Smitha V Crishna. Patym founder Vijay Shekhar Sharma also lands on the list with $1.5 billion, though his wealth is likely to be revised upwards with Reliance Capital selling its nearly one per cent stake to Alibaba at $41 million. (READ MORE)
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