Forbes India has released the annual India rich list and Reliance Industries Chairman Mukesh Ambani has topped the Forbes’ ‘100 Richest Indians’ list with a net worth of USD 22.7 billion. India’s richest pharmaceutical magnate Dilip Shanghvi remains at number two with a net worth of USD 16.9 billion. His wealth fell by USD 1.1 billion along with a drop in the shares of his Sun Pharmaceutical Industries , the world’s fifth-largest generics maker.

Ambani was followed by the steel baron Lakshmi Mittal, who retained his second position in the list with a net worth of USD 26.1 billion. However, the wealth of both of these billionaires is believed to have slipped by 15 per cent from the previous amount.

Mukesh’s younger sibling Anil Ambani lost the third spot on the list to IT major Wipro and fell to sixth rank.

Premji’s wealth has increased to USD 17.6 billion from USD 14.9 billion last year, taking him to the third spot from the fourth place last year.

Fourth on the list was Essar Energy brothers Shashi and Ravi Ruia with a net worth of USD 15 billion, bolstered by the company’s IPO in London, which raised USD 1.85 billion.

Mukesh Ambani retains the top spot on the list, despite a drop of $4.7 billion in his net worth. Lower oil prices took a toll on his oil and petrochemicals giant, Reliance Industries, which saw its stock tumble on declining revenues. His younger brother Anil Ambani, who ranks No. 29 with a net worth of $2.9 billion, also took a hit. Falling shares of his group companies more than halved his fortune from a year ago. The combined wealth of the brothers is down by more than $8 billion.

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