The Forbes India’s 100 Richest People 2016 list is out and it features only four women this year. The illustrious names are- O P Jindal group Chairperson Savitri Jindal, Biotech pioneer Kiran Mazumdar-Shaw, wife of Havells founder Vinod Gupta and USV Pharma Chairperson Leena Tewari.
These women collectively hold $11.28 billion wealth, while total net worth of the 100 people who have made it to the list is pegged at $381 billion.
Ms Jindal, the Chairperson of Jindal Steel & Power Limited, secured the position of being the richest woman in India with a net worth of $5.2 billion. Ms. Jindal’s O.P. Jindal group companies, placed her 19th in the list as her fortune increased with recovery in steel prices. The list is topped by Mukesh Ambani for the ninth consecutive year with a net worth of $22.7 billion.
According to Forbes, “(Her) Mumbai-based son Sajjan saw shares of his JSW Steel almost double in the past year. In May, he agreed to acquire a 1,000-megawatt thermal power unit for $750 million from his struggling younger sibling Naveen’s Jindal Power & Steel, which is weighed down by $3.6 billion in debt. ”
Following Ms Jindal’s ranking, Vinod Gupta secured 46th position with a net worth of $2.5 billion. After her husband Qimat Rai Gupta’s death in November 2014, Ms Gupta took over her late husband’s shares in electrical firm Havells India, which is run by her youngest son Anil Rai Gupta who also one of the rank holders in the elite list this year. According to Forbes, an increase in the share prices of Havells is the reason for the leap.
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Kiran Mazumdar Shaw is worth 65, $1.8 billion. Chairperson and managing director of Biocon, was recently awarded with France’s highest civilian honour for her outstanding contribution to bioscience, and Forbes calls her “India’s richest self-made woman”. Her company was also one of the eight which outperformed the stock market’s 12% rise in the past year.
“Biotech pioneer Kiran Mazumdar Shaw’s wealth climbed along with shares of her listed Biocon, which have more than doubled in the past year. The company, Asia’s largest insulin producer, is aiming for a 10 per cent share of the global market,” as per Forbes.
On the other hand, low profile heiress Leena Tewari, who chairs privately held Indian generics maker USV Pharma a drugs for diabetes and cardiovascular diseases, was ranked 79th on the list with $1.62 billion.
Feature Image Credit: financialexpress.com
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