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BW Businessworld

Shanghvi Dethrones Ambani As Richest Indian

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Pharma tycoon Dilip Shanghvi has surpassed Mukesh Ambani as the world's richest Indian with a net worth of $21.5 billion - within two days of Reliance Industries chief being ranked India's wealthiest for 8th year.
As per a 'real time' update from business magazine Forbes, known for its annual rich lists, Sun Pharma Group's Shanghvi was ranked richest Indian, followed by Mukesh Ambani and tech czar Azim Premji at second and third positions, respectively, among Indians.
On the global rich list, Shanghvi moved up to 37th position, while Ambani slipped to 43rd position.
Earlier on Monday, Forbes had released its annual Rich List for 2015, wherein Ambani was ranked 39th - highest among Indians - while Shanghvi was at 44th place. Premji was ranked 48th on that list, from which he has moved up one place now.
Shanghvi's networth on Wednesday stood at $21.5 billion, following a sharp rally in share prices of his group companies, while that of Ambani was $20.4 billion.
The Annual Rich List had put Ambani's wealth at $21 billion, based on share prices and exchange rates as on February 13. Ambani has been ranked as richest Indian for eight consecutive years now on the Forbes' annual rich lists, even as his ranking has come down sharply from among top-ten positions globally earlier.