India's 40 Richest

India's 40 Richest

Naazneen Karmali, 11.12.08, 10:00 PM EST

The global financial crisis has hit the subcontinent hard--the wealthiest Indians are worth 60% less than a year ago.

These are painful times for India's richest as the ongoing global turmoil drastically reshapes their fortunes. The country's once soaring stock market fell 48% in the 12 months, the rupee depreciated 24% against the dollar and gross domestic product growth is expected to slow down to 7.5%, partly owing to double-digit inflation. All of this conspired to knock 60% off the combined fortunes of the nation's 40 wealthiest. Their total net worth fell $212 billion, to $139 billion, down from $351 billion a year ago
In Pictures: India's Richest

Sort List

Rank | Name | Net Worth | Age | City

Featured

Sun Shines

Naazneen Karmali

Low-key Dilip Shanghvi has built India's most valuable drug company by taking measured risks and picking his fights carefully.

The Patient Billionaire

Richard C. Morais

Sixty-five years after his grandfather bought 3,500 acres in Mumbai, Adi Godrej is finally ready to develop it.

The Party Is Over

Naazneen Karmali

Vijay Mallya styles himself the king of good times, but can't be enjoying plummeting net worth.

The Top 20

1. Mukesh Ambani
2. Lakshmi Mittal
3. Anil Ambani
4. Sunil Mittal
5. Kushal Pal Singh
6. Shashi & Ravi Ruia
7. Azim Premji
8. Kumar Birla
9. Adi Godrej
10. Gautam Adani
11. Dilip Shanghvi
12. Savitri Jindal
13. Malvinder & Shivinder Singh
14. Anil Agarwal
15. Shiv Nadar
16. Micky Jagtiani
17. Indu Jain
18. Cyrus Poonawalla
19. Uday Kotak
20. Chandru Raheja

Complete List