India’s rising tycoons take global spotlight

GAUTAM Adani and Mukesh Ambani, two business tycoons from Gujarat in the Western part of India, are leading the way when it comes to Indian wealth. The former, a first-generation self-made billionaire, went past the latter in the Forbes list of India’s 100 Richest, which was released on Thursday (Oct 13).

A weaker rupee impacted the majority of the richest but that was offset by the 60-year-old Adani’s record gain, which saw him top the list with a wealth of US$150 billion and earn him the title of Asia’s richest man. Ambani, 65, who secured the top spot in the Forbes list consistently since 2008, is now a distant second with a US$88 billion fortune.

Apart from Adani and Ambani, there are nine new faces in the top 100. Here is a closer look at some of the debutants, as well as the Kamath brothers, who made their first appearance on the Forbes list in 2020 and run one of India’s rare profitable new-age companies.