According to the 2011 Forbes India Rich List, the combined wealth of India’s 100 richest people is down 20 per cent from a year ago to $241 billion. Roiled by inflation, running at over 9%, currency prices and a spate of corruption scandals are diminishing the wealth of India’s richest. This year’s list also has a total of 57 billionaires. The top 10 richest are collectively worth $113.6 billion, down from $150 billion last year.
#1. Mukesh Ambani
Net worth: $22.6 billion
Mukesh Ambani retained the title of India’s richest man, with a net worth of $22.6 billion this year, despite seeing a drop of $4.4 billion.
#2. Lakshmi Mittal
Net worth: $19.2 billion
Steel tycoon Lakshmi Mittal remains No.2 with a net worth of $19.2 billion, down 26% from last year. Despite the recovery in steel demand, shares of his flagship, ArcelorMittal, the world’s largest steelmaker, plunged 40 per cent due to surging costs.
#3. Azim Premji
Net worth: $13 billion
Infotech tycoon Azim Premji retained his third place, though his wealth slipped from $16.8 billion earlier this year.
#4. Shashi and Ravi Ruia
Net worth: $10.2 billion
Brothers Shashi and Ravi Ruia, who head the Essar group are the fourth richest businessmen in India.
#5. Savitri Jindal
Net worth: $9.5 billion
Savitri Jindal is the richest woman in India Inc. The non-executive chair of O P Jindal Group, she took over the steel and power conglomerate founded by her late husband Om Prakash in 1952.
#6. Sunil Mittal
Net worth: $8.8 billion
With a fortune of $8.8 billion, chairman of Indian telecom giant Bharti Airtel, Sunil Mittal is the 8th richest man in India.
#7. Gautam Adani
Net worth: $8.2 billion
Chairman of the Adani Group, Gautam Adani’s net worth has fallen to $8.2 billion from $10 billion.
#8. Kumar Mangalam Birla
Net worth: $7.7 billion
With a net worth of $7.7 billion, chairman of the Aditya Birla Group, Kumar Birla’s wealth has fallen from $9.2 billion seen earlier this year.
#9. Pallonji Mistry
Net worth: $7.6 billion
Chairman of Shapoorji Pallonji Group, Pallonji Mistry is ranked 9th in the list.
#10. Adi Godrej
Net worth: $6.8 billion
Chairman of the Godrej group, Adi Godrej is the tenth richest Indian with a new worth of $6.8 billion.
[See full list on Forbes.com]