$20bn is what the top 7 gainers added to their wealth in 6 months. That’s Rs. 1,40,000 crore. In the first 6 months of 2019, India’s 5 richest billionaires earned $15bn, which amounts to roughly Rs. 1,00,000 crore.
- Altogether, the 7 richest Indians made one-fifth of what the market made in a 6 month period.
- According to data accessible by the public, provided by Bloomberg, 4 out 5 of the billionaires added at least $1.7bn, with the exception of Lakshmi Mittal.
- The biggest beneficiary was RIL’s Mukesh Ambani, now the 12th richest person in the world. As of 28 June, he added nearly 50,000 crore bringing his fortunes to a whopping total of $51.7bn.
- RIL saw its shares climb 14 per cent. The Sensex gained 9 per cent against that.
- Azim Premji also saw his wealth increase as he looks to focus on philanthropy. Wipro shares also beat Sensex returns with a 13.6 percent gain.
- Uday Kotak rode Kotak Mahindra Bank’s gain, Shiv Nadar benefitted from HCL’s steady advance to 11 per cent.
- Lakshmi Mittal, Dilip Shangvi and Nusli Wadia, owners of ArcelorMittal, Sun Pharma and Wadia Group were the ones who saw their wealth erode.