Here are the 10 richest people in Mumbai

SUMMARY

Mumbai, India’s financial hub has emerged as the city with 9th largest billionaire population in the world. The Indian financial capital is home to 39 billionaires, according to ‘The Wealth-X Billionaire Census 2018,’ by Wealth-X. Mumbai, since the time when the English East India Company leased the area from the English government in the 17th century has been the focal point for businessmen and the wealthy class. Unsurprisingly, this made the city the home for country’s rich and mighty. Here is the list of the ten richest Mumbaikars as per Forbes’ real time billionaire list 2018.

By CNBC-TV18May 19, 2018 7:41:26 AM IST (Updated)

Mukesh Ambani is the 19th richest man in the planet as per Forbes. Ambani, who is the richest Indian has a net worth of $40.1 billion. Son of legendary Indian tycoon Dhirubhai Ambani, he is the head of Reliance Industries Limited (RIL), a Fortune Global 500 company that deals mainly in refining, petrochemicals, and in the oil and gas sectors. (Reliance Industries Limited)

The man behind Sun Pharma, world's fourth largest generics maker, Dilip Shanghvi's rise began decades ago, when he started the company using the money borrowed from his father. While a series of scandals have inversely impacted his fortunes, he is still the second richest Mumbaikar with a net worth of $12.8 billion. (IANS)

Coming third in the list is Kumar Birla with a net worth of $11.8 billion. Coming from the Birla family, he inherited the group after the death of his father Aditya Birla in 1995. The group has since expanded its horizon dealing with sectors ranging from telecom to infrastructure. And with him orchestrating the merger between his firm Idea cellular with Vodafone to take on fellow Mumbaikar Mukesh Ambani’s Jio, Birla may see drastic changes in the fortunes of himself and his group. (IANS)

With a net worth of $10.7 billion, Uday Kotak finds himself placed as the fourth richest resident of the maximum city. His Kotak Mahindra Bank, which he started in the 80s as a financial firm as a firm base in the country. The bank that acquired the Indian operations of the ING Bank is reportedly among the top private sector banks in the country. (IANS)

Radhakishan Damani and family complete the list of top five richest Mumbai residents. With a net worth of $10 billion the family that owns the Indian supermarket firm D-Mart is seen as the leader of country’s retail sector. What began as a singleshop in Mumbai over a decade back as now diversified in to numerous sectors ranging from investment to hospitality.

Nusli Wadia head the Wadia Group, one of the oldest business houses in the city. The group, famous for its brands such as Britannia Industries and Bombay Dyeing, has diverse business interests and investments. While many new players have overshadowed the old group, its patriarch still ranks sixth with a net worth of $6.2 billion. (IANS)

Indian media Moghul Subhash Chandra who heads the Essel group is the next person in the list with a net worth of $5 billion. His group’s interest range in to a variety of sectors including amusement parks, packaging, infrastructure and lotteries. The man behind India’s first satellite TV channel Zee TV, he is a member of Rajya Sabha. (IANS)

Ajay Piramal heads the Piramal Enterprises, a group involved in pharma, healthcare and financial services. The Mumbai resident ranks eighth in the list with a net worth of $4.9 billion. (IANS)

Another traditional business family making in to the list are the Bajaj brothers. Niraj, Madhur and Shekhar Bajaj are part of the Bajaj Group that is led by their cousin Rahul Bajaj. The siblings, reportedly have a net worth of $4.8 billion making them members of the elite list.

Real estate tycoon Mangal Prabhat Lodha completes the list by coming tenth among the richest Mumbaikars. Lodha, who has a net worth of $3.7 billion. Lodha, besides being a business tycoon is a politician and serves as the MLA in Maharashtra legislative assembly. (Twitter)