Dilip Shanghvi ends Mukesh Ambani's eight-year run as India's richest billionaire

Print Posted Date : 05-Mar-2015 , 08:15:07 pm | Posted By CASANSAAR

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Dilip Shanghvi, the billionaire founder of drug maker Sun Pharma has ended Reliance Industries promoter Mukesh Ambani's eight-year run as India's richest billionaire on Wednesday.

For the first time ever, Forbes and the Bloomberg Billionaires Index have also ranked Shanghvi ahead of Ambani. The,59-year old Shanghvi's net worth at $21.5 billion is $1.1 billion more than Ambani's net worth of $20.4 Billion. While Shanghvi is a self-made billionaire, Ambani inherited the business from his father the late Dhirubhai Ambani.

According to Bloomberg, Shanghvi added billions to his net worth in the first two months of this year, and his fortune went up by $4.5 billion this year, while Ambani's net worth increased by just $153 million since the start of 2015.

Over the last three months, Sun Pharma shares have gained 22 per cent as against a 7.5 per cent drop in RIL. Ambani's company has under performed the BSE Sensex as well because its business model is commodity driven. The 50 per cent slump in global crude oil prices has impacted RIL heavily. (PTI )

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