Mukesh Ambani has retained his title as the world’s richest Indian for the ninth year in a row, this time with an even wider margin, according to the Hurun-IIFL Wealth report released Tuesday. And debuting on the rich list is 77-year-old Ashok Soota, who is coming off a bumper listing of his IT firm Happiest Minds Technologies Ltd.
The rankings come at a time when the coronavirus pandemic has put the Indian economy on course for its first annual contraction in at least four decades and raised the spectre of wider inequality when growth returns. The list includes 828 Indians who were worth more than Rs 1,000 crore as of Aug. 31, 2020.
According to the Hurun rich list:
- The net worth of Ambani, chairman of Reliance Industries Ltd., rose 73% to Rs 6.58 lakh crore as his company’s stock rose in tandem with the dizzying fundraising by Jio Platforms and Reliance Retail.
- Cyrus Mistry and…