India's richest person Mukesh Ambani earned Rs.300 crore every day over the past one year, according to the Barclays Hurun India Rich List 2018. The 61-year-old Reliance Industries Chairman, worth Rs. 3,71,000 crore, has more money than the combined wealth of the next three persons on the list: SP Hinduja & Family, LN Mittal & Family, and Azim Premji.
A 47 percent rise in RIL's share price, its petrochemical business and the launch of Reliance Jio have contributed to Ambani's increase in wealth to Rs.300 crore per day.
SP Hinduja & Family is worth Rs. 1,59,000 crore followed by LN Mittal & Family at Rs. 1,14,500 crore and Azim Premji at Rs. 96,100 crore, according to the list.
Barclays Hurun lists Indians having a net worth of Rs. 1,000 crore or more.
India added 214 to the list of individuals worth Rs.1,000 crore over the last year, The Hindu reported.
At $719 billion, the cumulative wealth of the 831 individuals in the 2018 Rich list, accounts for one fourth of India's GDP of $2,848 billion.
The 10 richest families on the list are Ambani, Godrej, Hinduja, Mistry, Shanghvi, Nadar, Adani, Damani, Lohia and Burman.
Ritesh Agarwal, the 24-year-old founder of Oyo Rooms, topped the list of self-made entrepreneurs under 40. He is worth Rs. 2,600 crores.
Krishna Kumar Bangur, non-executive chairman of Graphite India, experienced a 430 percent increase in wealth to Rs. 14,300 crore in 2018. Byju Raveendran, founder of Think & Learn, had a 230 percent increase in wealth to Rs. 3,300 crore in 2018.
There are 66 NRIs (Non Resident Indians) on the list and 65 percent of them are self made, ET reported. The wealthiest NRI is SP Hinduja & family.
The United Arab Emirates (UAE) is the preferred destination for NRIs after the United States (US) and the United Kingdom (UK). Mumbai by far is the favorite city for the rich in India followed by New Delhi and Bengaluru.