India adds 700 billionaires in 2017

According to Hurun’s list of rich people in India, the number of billionaires increased more than three times this year to 1,043 from 339 recorded last year.

The sharp rally in the capital market has created another 700 billionaires in the country in 2017.
 
According to Hurun’s list of rich people in India, the number of billionaires increased more than three times this year to 1,043 from 339 recorded last year.
 
The list has about 16 people, who have doubled their assets in the past one year.
 
There were 100 individuals whose networth witnessed a fall.
 
While 426 people has a networth of Rs 1,600 crore each, the rest has assets of Rs 1,000 crore.
 
Mukesh Ambani (60) topped the list with a rise of 58 per cent in his asset to Rs 2.58 lakh crore. Second to him is Dilip Shanghvi (61) of Sun Pharma, with an asset of Rs 89,000 crore.
 
BSE Sensex saw a growth of 16 per cent to 32,514 and the BSE Mid Cap was up 16 per cent in the past one year ending July.
 
The market capitalisation of all listed companies is now equivalent to 84 per cent of India’s nominal GDP, which is the highest in emerging markets.
 
Source: BusinessLine

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