Top 10 Richest Indian Billionaires in 2020

A retail king named Radhakishan Damani emerges to become India's first second-richest person amid the COVID-19 pandemic and the stock market's surge. The fortunes of India's billionaires had already been harmed by a shrinking economy and falling consumer demand before the COVID-19 outbreak.

According to Forbes, the total number of billionaires in India has dropped to 102 from 106 in 2019. Furthermore, their combined fortune has dropped by 23% to ＄313 billion. Let us look at the indian billionaires list 2020.

Top 10 Richest Indian Billionaires in 2020

Let us discuss some key details of top 10 richest man in India 2020.

Despite a ＄13.2 billion decline from the previous year, Mukesh Ambani, the chairman and founder of Reliance Industries, retained his position as India's richest man. For the first time, a retail tycoon named Radhakishan Damani rose to become India's second-richest person.

(Image will be uploaded soon)

The 10 Richest Billionaires of India by net worths as of Mar 18, 2020

According to the Forbes magazine, Indian Billionaires list 2020, Mukesh Ambani, the chairman of Reliance Industries holding a net worth of INR ＄36.8 billion, retained his richest Indian title. With a fortune of INR ＄13.8 billion, retail king Radhakishan Damani has risen to become India's second richest person. His fortune has risen by a quarter, making him the 2nd richest Indian billionaire for the first time—his Avenue shares in the Supermarts that operate the DMart supermarket chain.

1.Mukesh Ambani

Source of Wealth: Petrochemicals, Oil & Gas

Net Worth: ＄36.8 Billion

Residence: Mumbai, India

Mukesh Ambani is the top 10 richest person in India 2020 list and he is the managing director and chairman of Reliance Industries Limited - RIL. And, he is not only the richest person of India but also the richest man of the Asian region. He was born on Apr 19, 1957, in Aden (now called Yemen) to his parents Dhirubhai Ambani and Kokilaben Ambani. In the year 1966, Reliance was founded by his late father named Dhirubhai Ambani. It started as a small textile manufacturer. In 2002, after the death of his father, Ambani, with his younger brother named Anil Ambani, assumed joint leadership of the Reliance Companies.

However, feuds over power drove their mother, Kokilaben Ambani, to divide Reliance's holdings through a non-competition agreement (during 2006-2010). Under this position, Mukesh assumed the control of oil, gas and petrochemicals units as RIL - Reliance Industries Limited, under the Reliance Group's umbrella. Under his esteemed guidance, the company built the largest grassroots petroleum refinery in the world in Jamnagar, located in India. 

In the year 2016, 4G smartphone was launched by Jio telecom with a brand name 'LYF.' It became the third-largest selling smartphone of India that year. After that, in Sep, Jio 4G was commercially launched. He is the first India richest person list 2020.

2. Radhakishan Damani

Source of Wealth: Retail, Investments

Net Worth: ＄13.8 Billion

Residence: Mumbai, India

Radhakishan Damani was born in 1954. His birthplace is Bikaner, located in Rajasthan. He is much famous as an Entrepreneur and investor. In the year 2002, he got into the retailing industry with a store in Suburban Mumbai. Later, it has been unstoppable. He also owns stakes in a number of businesses, including VST Industries, a tobacco company, and United Breweries, a beer company. He is the second India richest person list 2020.

3. Shiv Nadar

Source of Wealth: Software Services

Net Worth: ＄11.9 Billion

Residence: Delhi, India

Shiv Nadar was born on Jul 14, 1945. His birthplace was Tiruchendur, located in Tamil Nadu. His father's name was Sivasubramaniya and his mother's name was Vamasundari Devi. He has done his graduation from the American College, located in Madurai. He earned an Electrical and Electronics Engineering degree from PSG College of Technology.

In 1967, he began his work at the Walchand Group's Cooper Engineering in Pune. An IT pioneer co-founded the HCL company in a garage in 1976 to make microprocessors and calculators. Now, he chairs HCL Technologies - one of the largest software services providers in India. In December 2018, HCL technologies bought some software products from IBM for INR ＄ 1.8 billion. It provides employment to about 149,000 people in approximately 45 countries across the world, hires school grads, and trains the candidates on the job. He is the third top 10 richest man in the India 2020.

4. Uday Kotak

Source of Wealth: Banking

Net Worth: ＄10.4 Billion

Residence: Mumbai, India

Uday Kotak is also among the top 10 billionaires in India 2020 and was born on 15 March, 1959. His birthplace was Mumbai, located in India. In 1982, he graduated from Sydenham College with a Bachelor's degree and a postgraduate degree in management studies. It is from the Jamnalal Bajaj Institute of Management Studies. In 1985, he married Pallavi Kotak and had two children. After his graduation soon, he entered the finance business.

In 1985, he started one finance firm and then, in 2003, went on to convert it into a bank. In the private sector named - Kotak Mahindra Bank is now among the top four banks of India, boosted by its 2014 acquisition of the Indian operations of ING Bank.  

5. Gautam Adani

Source of Wealth: Commodities, Ports

Net Worth: ＄8.9 Billion

Residence: Ahmedabad, India

Gautam Adani is one of the richest people in India 2020 and was born on Jun 24, 1962. His birthplace was Ratanpol, located in Ahmedabad. He controls the largest Mundra Port of India in his home state of Gujarat. His revenue is about ＄13 billion. The interests of Adani Group include transmission, power generation, real estate, edible oil and defense. The overseas assets of Adani include the Abbot Point port and the Carmichael coal mine of Australia, billed as the largest in the world. After a wait of 9 years, he got permission in June 2019 June to start work on the Australian coal mine. Very recently, he expanded 2 new ventures, namely data centers and airports.

6. Sunil Mittal

Source of Wealth: Telecom

Net Worth: ＄8.8 Billion

Residence: Delhi, India

Sunil Mittal was born on Oct 23, 1957. His birthplace was Ludhiana, located in Punjab. In 1976, he completed his Bachelor's degree in Arts and Science from the Punjab University, Chandigarh. And in 1976, he started the business with his friend and two brothers. The business was to prepare crankshafts for the local bicycle manufacturers. He married Nyna and had three children.

Sunil Mittal, who is the Telecom tycoon Bharti Airtel is among the largest mobile phone operators of India with 418 million-plus customers. Also, he owns Airtel Payments Bank, which is a niche bank, in a joint venture with Kotak Mahindra Bank. Uday Kotak, a fellow billionaire, owns the company. Kavin, his son, runs a SoftBank-backed messaging service called Hike.

7. Cyrus Poonawalla

Source of Wealth: Vaccines

Net Worth: ＄8.2 Billion

Residence: Pune, India

Cyrus Poonawalla is the chairman of Poonawalla Group that consists of a privately owned Serum Institute of India. It is India's top biotech company and also the world's largest vaccine manufacturer by the numerous doses produced and sold across the world. In 1966, Dr. Poonawalla has founded the Serum Institute and launched its therapeutic anti-tetanus Serum firstly within 2 years and started producing the vaccines of anti-tetanus.

8. Kumar Birla

Source of Wealth: Commodities

Net Worth: ＄7.6 Billion

Residence: Mumbai, India

Kumar Birla is the Aditya Birla Group's Chairman. Kumar Mangalam Birla is his full name. In 1995, at 28, he took over the Chairman position of the Group after his father's untimely demise. His interest in the Group spans aluminium and cement to financial and telecom services. In October 2019, the European Commission approved the INR ＄2.6 billion acquisition by Novelis of Aleris, who is an aluminium producer in Ohio. His telecom firm Vodaphone Idea was formed In 2018 by the merger between his Vodaphone India and Idea Cellular.

9. Lakshmi Mittal

Source of Wealth: Steel

Net Worth: ＄7.4 Billion

Residence: London, UK

Lakshmi Mittal was born on Jun 15, 1950. His birthplace was Sadulpur, located in Rajasthan, India. He is an Indian Businessman, CEO and chairman of Arcelor Mittal - the largest steelmaking company in the world. In 1960, his family moved to Calcutta (also named Kolkata), where his father operated a steel mill. He worked at the mill while studying science at St. Xavier College. He received his diploma in 1970 and worked as a trainee at the same mill until opening his own steel factory in Indonesia in 1976. 

10. (tie) Azim Premji

Source of Wealth: Software Services\

Net Worth: ＄6.1 Billion

Residence: Bangalore, India

Azim Premji was born on Jul 24, 1945. His birthplace was Bombay (now called Mumbai), located in India. He is the chairman of Wipro Limited and an Indian business entrepreneur. In 1966, when he was about to complete his engineering degree at Stanford University, unexpectedly, his father died. He postponed his graduation and returned back to India to take over the family business' reins. He started to delve and diversify into consumer products like shoes, soap, lightbulbs, and also hydraulic cylinders. 

10. (tie) Dilip Shanghvi

Source of Wealth: Pharmaceuticals

Net Worth: ＄6.1 Billion

Residence: Mumbai, India

Dilip Shanghvi was born on Oct 1, 1955. His birthplace was Amreli, located in Gujarat, India. He is the founder of Sun Pharmaceutical Industries Ltd (1983) and a business executive. In 1982, he completed his graduation in commerce from the University of Calcutta. In 1983, when he began Sun Pharma to make psychiatric drugs, he borrowed USD 200 from his father.

This is the richest person in india 2020 list in detail.