14 of 40 Wealthiest Indians Live in UAE: Report

By Little India Desk | September 27, 2017

The United Arab Emirates is the most sought-after destination for 14 out of 40 wealthy Non-resident Indians, according to this year’s Hurun Report. The United Kingdom and the United States follow, with 10 and 8 wealthy NRIs, respectively. They are listed as two other countries, which are the preferred destinations for immigration.

LN Mittal of ArcelorMittal, with Rs 882 billion, is the wealthiest Indian immigrant, while Micky Jagtiani of the Landmark Group and MA Yusuf Ali of the Emke Group are ranked the second and third wealthiest globally. While Mittal has made the United Kingdom his home, Jagtiani and Ali are residents of the UAE, with fortunes worth Rs 347 billion and Rs 319 billion, respectively.

In the list of extremely rich non-resident Indians in UAE were also named Sunny Varkey (Gems Education); BR Shetty (NMC), Adani Vinodbhai Shantilal (Adani Enterprises), Ravi Pillai (RP Group), Feroz Allana (IFFCO), Divyank Turakhia (Media.Net), Shamsheer Vayalil (VPS Healthcare), Tony Jashanmal (Jashanmal), Saket Burman (Dabur), Azad Moopen (Aster DM Healthcare) Rizwan Sajan (Danube) and Ramesh S Ramakrishnan (Transworld).

“The total number of rich list entrants increased 6 times since we launched the list six years ago; a good indication that Indian entrepreneurs are coming of age with global ambitions,” Rupert Hoogewerf, chairman and chief researcher, Hurun Report Global, said, the Khaleej Times reported.

The Hurun India Rich List named the richest people in India with cut off at Rs 10 billion. For the sixth consecutive year, Mukesh Ambani of Reliance Industries was ranked first, with net worth Rs 2.579 trillion. Dilip Shanghvi of Sun Pharma took the second place, with net worth of Rs 890 billion. Others among the top 10 are LN Mittal (ArcelorMittal), Shiv Nadar (HCL), Azim Premji (Wipro), Cyrus S Poonawalla (Serum Institute of India), Gautam Adani (Adani Enterprises), Acharya Balkrishna (Patanjali Ayurved), Uday Kotak (Kotak Mahind), and Sunil Mittal & Family (Bharti Airtel).

According to the report, the wealth of Hurun India Rich Listers has increased by 17 per cent compared to that in last year on average. Among the listed people, 16 of them saw their wealth double on year-on-year basis.