Flipkart’s co-founders Sachin and Binni Bansals have made their debut at 86th position with a net worth of $1.3 billion each on the country’s top 100 rich list.although Reliance Industries’ chairman Mukesh Ambani continues to top the Forbes India Rich list for ninth consecutive year with a net worth of USD18.9 Billion.
The combined wealth of India’s 100 richest persons remained largely unchanged at $345 billion, compared with $346 billion in 2014, Forbes said.
The list was compiled using shareholding and financial data obtained from families and individuals, stock exchanges, analysts and regulators according to forbes.The ranking lists family fortunes including those shared among extended familes such as in the case of Godrej and Bajaj families, while public fortunes were calculated on the basis of share price and exchange rates as on September 11.
In a report, it was said that the wealth of many of India’s 100 richest has declined due to the fall in the stock markets and depreciation of the rupee over the past year. 10 of them saw their net worth dip by over $1 billion each in one year, including Lakshmi Mittal, whose net worth dropped by $4.6 billion (ranked 8th with $11.2 billion)
In May last year, Flipkart also announced that it had bought Myntra for $370 million. “Flipkart and Myntra are getting together to create one of the largest e-commerce stories in the country,” Sachin Bansal told ET.
In September this year, the e-retailer confirmed its valuation at $15.2 billion.