Sachin and Binny Bansal are amongst the 31 Indians who are out of the Harun Global Rich Indian billionaires list.
Flipkart founders Sachin and Binny Bansal, who earned the dollar billionaire status last year are amongst the 31 Indian billionaires who are out of the Harun Global Rich-Indian billionaires report, according to the Business Standard.
Prime Minister Narendra Modi's demonetization hit companies hard as 11 out of 31 lost their billionaire status since the move was announced. Amongst the list are Gauram Thapar of Crompton Greaves, Nilima Motaparti of Divi’s Labs, Prathap C Reddy & family of Apollo Hospitals, and Nandan Nilekani, an Infosys shareholder. The aforementioned list is exclusively on the share price performance of companies after demonetization.
Others who have seen their wealth declining after the announcement are Salil Singhal & family of PI Industries, Chirayu R Amin & family of Alembic Pharma, B L Taparia & family of Supreme Industries, Habil Khorakiwala of Wockhardt, Prakash Chauhan & family of Parle Agro Food, Prithviraj Kothari of RiddiSiddhi Bullions, and Devendra Kumar Jain of Gujarat Fluorochemicals.
While they faced the heat of the move, many billionaires saw their money burgeon higher up the ladder of wealth. The cumulative wealth of 132 Indian or Indian-origin billionaires is estimated to have increased to $392 billion, up 16% and 27 billionaires have been added to the list this year.
Of the list of 27, Patanjali's Acharya Balakrishna leads the herd with wealth of $3.6 billion, followed by Nadir B Godrej and Smitha V Crishna.
Paytm founder Vijay Shekhar Sharma also landed on the list with $1.5 billion, though his wealth is likely to be revised with Reliance Capital selling stake worth Rs 275 crore to Alibaba.
While Mukesh Ambani retained his position as the richest Indian and ranked 28 on Hurun's Global list, with a wealth of $26 billion, he is the only Indian in the top 50.
Sun Pharma head is the third richest Indian and has ranked 74 on the Hurun's list.
At 42, Mumbai is home to the highest number of billionaires, followed by Delhi at 21. Ahmedabad at nine and Bengaluru is at eight.
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