billionaires have made huge additions to their net worth, with fascinating
strands to the overall weave of wealth
ranking of 391 billionaires
TO THE CLUB
most exclusive club has been flooded with new entrants, with as
many as 89 entrepreneurs paying the billion rupee admission fee
a few are set to storm into the Billionaire Club. We catch up with
a few of them
interesting unlisted billionaires
new CEOs join the list of those who earn more than Rs 1 crore a
list of India Inc's top earners
we estimated the wealth and earnings of billionaires
the promoters of listed companies, we use the accepted method of
estimating wealth based on the market value of their holdings in
listed companies. This is the category we have been estimating for
the last eight years. In line with international practices, we have
eliminated crossholdings in their stakes.
year, instead of removing the entire market value of crossholding
from the promoters net worth, we have added back their share
in the crossholding as their net worth. This results in wealth estimates
based on the promoters direct holding in listed companies
and share in crossholding.
year we also collected information on public shareholders whose
personal investment of over one per cent in various companies was
made available by both the Bombay Stock Exchange and the National
Stock Exchange. Rakesh Jhunjhunwala and his family with net worth
of Rs 14 billion top the list of investors billionaire. Nemish
Shah, an investor, too joined the big league with net worth of Rs
in previous years, we estimated individual net worth by taking the
average market price of shares for the last one month. So we estimated
wealth for the current period on the basis of the average price
for August 2006 and similarly for August 2005 for comparison purposes.
Also, we estimated the net worth of individual promoters (or even
members of the promoter family) only if a break up of the individual
share holdings is available.
for the salaried wealthy, we look at big-buck salaries, both of
promoters who take a salary from the company and of professional
managers. Strictly speaking, professional managers are a different
genre. Unlike the previous two categories which are based on the
stock concept of wealth, these are based on the flow concept of
income. So obviously, these earning billionaires cannot be compared
with the other billionaires.
the salaried lot, the biggest group is the professional managers,
or middle class millionaires. Their earnings are reported in the
annual reports of companies. By and large, these are very accurate
but because of innovative compensation structuring the figures may
tend to be a bit lower than the actual sums.
is no systemic bias in the data. Data for promoters net worth
are sourced from information on shareholding patterns published
by the Bombay Stock Exchange. The data on the salaried classes are
sourced from the annual reports of companies for the accounting
years ending anywhere between April 2005 and June 2006.
here for Alphabetical Index