Reliance Industries’ Mukesh Ambani has overtaken NRI steel tycoon Lakshmi Mittal as the richest Indian in the world, with a net worth of $20.8 billion, Forbes Report. Mittal has moved to second position with a net worth of $20.5 billion, is followed by Mukesh’s younger brother Anil Ambani, with $12.5 billion. The fourth place goes to Sunil Mittal with $7.9 billion and fifth to K P Singh with $7.8 billion. ” These are painful times for India’s tycoons. The country’s once soaring stock market fell 48 per cent the past year, the rupee depreciated 24 per cent against the dollar, and GDP growth is expected to slow by at least a percentage point, in part owing to double-digit inflation “, Forbes Asia.
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