Dragon pales before India’s giants Net Worth Of 4 Richest Indians Tops Total Wealth Of China’s 40 Ri
INDIA Inc’s bulge-bracket bosses are now the richest in Asia as well. The net worth of the four richest Indians—Lakshmi Mittal, Mukesh Ambani, Anil Ambani and KP Singh—now exceeds the combined wealth of China’s 40 richest. According to Forbes, had these four been worth as much in March, when it published its annual list of the world’s billionaires, they would have ranked among the world’s 10 richest. The big four’s combined net worth stands at $180 billion based on the stock market prices of their companies and exchange rates as on November 2, 2007, according to Forbes. Last month, Forbes had pegged the combined net worth of the 40 richest Chinese at $120 billion as against $628 billion of the 40 richest Americans. Buoyed by the sky-rocketing stock market valuation of companies and appreciation of the rupee against the US dollar, the aggregate net worth of India’s 40 richest has more than doubled from $170 billion to $351 billion in the past one year. As many as 29 of the 40 in the Indian rich roster saw an increase in their fortunes last year