Mukesh Ambani tops Forbes India Rich List, adds $15.3 billion to last year's wealth

Agencies
October 5, 2017

New Delhi, Oct 5: Reliance Industries chief Mukesh Ambani on Thursday emerged as India's wealthiest for the 10th straight year as his net worth swelled to $38 billion (nearly Rs 2.5 lakh crore) while the wealth of 100 richest rose by 26 percent despite economic hiccups.

Wipro's Azim Premji was the distant second with a net worth of $19 billion, moving up two places from last year, while Sun Pharma's Dilip Shanghvi slipped from his earlier second place to the ninth now ($12.1 billion) on Forbes magazine's annual 'India Rich List 2017'.

Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering $15.3 billion (67 percent) to his last year's wealth to become one of Asia's top five richest.

Anil Ambani, Mukesh's younger brother, was ranked much lower at 45th place with $3.15 billion. He was ranked 32nd in 2016 ($3.4 billion) and 29th a year before that.

Patanjali Ayurved's Acharya Balkrishna, known as a close associate of yoga guru Ramdev, made a big jump from 48th place last year to 19th now with a net worth of $6.55 billion (about Rs 43,000 crore).

"Despite India's economic hiccups, tycoons on the 2017 Forbes India Rich List saw their wealth soar as their combined fortunes rose 26 percent to $479 billion (over Rs 31 lakh crore)," the magazine said.

"India's turbo-charged economy sputtered in the quarter ended in June as it grew at a three-year low of 5.7 percent, due to the aftershocks of last November's demonetisation and uncertainties over the rollout of a nation-wide Goods and Services Tax. Despite this, the stock market scaled new heights and boosted the fortunes of the nation's 100 richest," it added.

In the case of Ambani, improved refining margins and his telecom unit Reliance Jio's thundering success in notching up 130 million subscribers since its 2016 launch pushed up shares of Reliance Industries.

The Hinduja brothers are at the third position with $18.4 billion while Lakshmi Mittal is now ranked fourth ($16.5 billion) and Pallonji Mistry fifth ($16 billion).

Forbes said the list was compiled using shareholding and financial information secured from the families and individuals, stock exchanges, analysts and regulatory agencies.

The ranking lists family fortunes, including those shared among extended families such as the Godrej and Bajaj families. Public fortunes were calculated based on stock prices and exchange rates as of September 15. Private companies were valued based on similar companies that are publicly traded.

More than four-fifths of those who kept their spot on the list from last year saw their wealth rise, with 27 listees adding $1 billion or more to their net worth.

The richest newcomer is cookies-and-airline tycoon Nusli Wadia at the 25th place with a net worth of $5.6 billion. Among the five other new entrants to the list are Dinesh Nandwana (88, $ 1.72 billion) of e-governance services firm Vakrangee; Vijay Shekhar Sharma (99, $1.47 billion) of fast-rising mobile wallet Paytm and Rana Kapoor (100, $1.46 billion) of Yes Bank.

Veteran investor Radhakishan Damani, boosted by the listing of his supermarket chain D-Mart in March, returned to the list at 12th place with a net worth of $9.3 billion. Other returnees are Future Group's Kishore Biyani (55th, $2.75 billion) and siblings Murli Dhar and Bimal Gyanchandani (75, $1.96 billion).

However, a dozen have turned poorer than a year ago, with half of them from the pharmaceutical sector, which has been plagued by challenges.

Pharmaceutical magnate Dilip Shanghvi is the biggest dollar loser on the list as his net worth fell by $4.8 billion, ending his three-year run as India's second-richest. The Gupta family (40, $3.45 billion), heirs of patriarch Desh Bandhu Gupta, who died in June, saw their fortune shrink as shares of their generics maker Lupin declined.

Brothers Shashi and Ravi Ruia suffered a drop as their Essar Steel faced bankruptcy proceedings under India's stricter new law, Forbes said.

The 100 wealthiest on this year's list are all billionaires. The minimum amount required to make the list was $1.46 billion, up from $1.25 billion last year.

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News Network
January 23,2026

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Prime Minister Narendra Modi, during his visit to Thiruvananthapuram on Friday, January 23, indicated that the Bharatiya Janata Party (BJP) is aiming to expand its political footprint in Kerala ahead of the Assembly elections scheduled in the coming months.

Speaking at a BJP-organised public meeting, Modi drew parallels between the party’s early electoral gains in Gujarat and its recent victory in the Thiruvananthapuram Municipal Corporation. The civic body win, which ended decades of Left control, was cited by the Prime Minister as a possible starting point for the party’s broader ambitions in the state.

Recalling BJP’s political trajectory in Gujarat, Modi said the party was largely insignificant before 1987 and received little media attention. He pointed out that the BJP’s first major breakthrough came with its victory in the Ahmedabad Municipal Corporation that year.

“Just as our journey in Gujarat began with one city, Kerala’s journey has also started with a single city,” Modi said, suggesting that the party’s municipal-level success could translate into wider electoral acceptance.

The Prime Minister alleged that successive governments led by the Left Democratic Front (LDF) and the United Democratic Front (UDF) had failed to adequately develop Thiruvananthapuram. He accused both fronts of corruption and neglect, claiming that basic infrastructure and facilities were denied to the capital city for decades.

According to Modi, the BJP’s control of the civic body represents a shift driven by public dissatisfaction with the existing political alternatives. He asserted that the BJP administration in Thiruvananthapuram had begun working towards development, though no specific details or timelines were outlined.

Addressing the gathering at Putharikandam Maidan, Modi said the BJP intended to project Thiruvananthapuram as a “model city,” reiterating his party’s commitment to governance-led change.

The Prime Minister’s visit to Kerala also included the inauguration of several development projects and the flagging off of new train services, as the BJP intensifies its political outreach in the poll-bound state.

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coastaldigest.com news network
January 19,2026

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Bengaluru: As the dust settles on the recent legislative session, the corridors of Vidhana Soudha are buzzing with more than just policy talk. A high-stakes game of political musical chairs has begun, exposing a deepening rift within the Congress party’s Muslim leadership as a major Cabinet reshuffle looms.

With the party hierarchy signaling a "50% refresh" to gear up for the 2028 Assembly elections, the race to fill three projected Muslim ministerial berths has transformed from a strategic discussion into an all-out turf war.

The "Star Son" Spark

The internal friction turned public this week following provocative remarks by Zaid Khan, actor and son of Wakf Minister Zameer Ahmed Khan. Zaid’s claim—that his father "helped" secure a ticket for Shivajinagar MLA Rizwan Arshad in 2023—has acted as a lightning rod for resentment.

Rizwan’s camp was quick to fire back, dismissing the comment as a desperate attempt by Zameer to manufacture seniority. "Rizwan’s political pedigree was forged in the NSUI and Youth Congress long before Zameer even stepped into the party," a supporter noted, highlighting Rizwan’s tenure as an AICC secretary and his two-term presidency of the State Youth Congress.

A Tale of Two Loyalists

While both Zameer Ahmed Khan and Rizwan Arshad are staunch allies of Chief Minister Siddaramaiah and represent Bengaluru strongholds, their political DNA could not be more different:

•    Zameer Ahmed Khan: A four-time MLA who crossed over from JD(S) in 2018. Known for his "overzealous" and often polarizing outreach during communal flashpoints—from the DJ Halli riots to the recent Wakf land notice controversy—his style has frequently left the Congress high command in a state of "discomfort."

•    Rizwan Arshad: A homegrown organizational man. Seen as a "quiet performer," Arshad represents the sophisticated, moderate face of the party, preferred by those who find Zameer’s brand of politics too volatile.

The Outsiders Looking In

The bickering isn't limited to a duo. The "Beary" community, represented by leaders like N A Haris and Saleem Ahmed, is demanding its pound of flesh. Saleem Ahmed, the Chief Whip in the Legislative Council, has dropped the veil of diplomacy, openly declaring his ministerial aspirations.

"I was the only working president not included in the Cabinet last time," Saleem noted pointedly, signaling that the "loyalty quota" is no longer enough to keep the peace.

As Chief Minister Siddaramaiah prepares to finalize the list, he faces a delicate balancing act: rewarding the aggressive grassroots mobilization of Zameer’s camp without alienating the organizational stalwarts and minority sub-sects who feel increasingly sidelined by the "Chamarajpet-Shivajinagar" binary.

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News Network
February 1,2026

Bengaluru: The Karnataka High Court has refused to quash an investigation against a WhatsApp group administrator accused of allowing the circulation of obscene and offensive images depicting Hindutva politicians and idols in 2021.

Justice M Nagaprasanna observed that, prima facie, the ingredients of the offence under Section 295A of the Indian Penal Code were made out. “The offence under Section 295A of the IPC is met to every word of its ingredient, albeit prima facie,” the judge said.

The petitioner, Sirajuddin, a resident of Belthangady taluk in Dakshina Kannada district, had challenged the FIR registered against him at the CEN (Cyber, Economics and Narcotics) police station, Mangaluru, for offences under Section 295A of the IPC and Section 67 of the Information Technology Act. Section 295A relates to punishment for deliberate and malicious acts intended to outrage the religious feelings of any class of citizens.

According to the complaint filed by K Jayaraj Salian, also a resident of Belthangady taluk, he received a WhatsApp group link from an unknown source and was added to the group after accessing it. The group reportedly had six administrators and around 250 participants, where obscene and offensive images depicting Hindu deities and certain political figures were allegedly circulated repeatedly.

Sirajuddin was arrested in connection with the case and later released on bail on February 16, 2021. He argued before the court that he was being selectively targeted, while other administrators—including the creator of the group—were neither arrested nor investigated. He also contended that the Magistrate could not have taken cognisance of the offence under Section 295A without prior sanction under Section 196(1) of the CrPC.

Rejecting the argument, Justice Nagaprasanna held that prior sanction is required only at the stage of taking cognisance, and not at the stage of registration of the crime or during investigation.

The judge noted that the State had produced the entire investigation material before the court. “A perusal of the material reveals depictions of Hindu deities in an extraordinarily obscene, demeaning and profane manner. The content is such that its reproduction in a judicial order would itself be inappropriate,” the court said, adding that the material, on its face, had the tendency to outrage religious feelings and disturb communal harmony.

Observing that the case was still at the investigation stage, the court said it could not interdict the probe at this juncture. However, it expressed concern that the investigating officer appeared to have not proceeded uniformly against all administrators. The court clarified that if the investigation revealed the active involvement of any member in permitting the circulation of such content, they must also be proceeded against.

“At this investigative stage, any further observation by this Court would be unnecessary,” the order concluded.

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