markets incessant rise has encouraged companies to raise funds
from the public
money, will spend seems to be the motto of the elite
CHECK ON PAY
got the biggest raises? Which company was most generous?
BUT NOT MARKET MOVERS
ones who did not have to tap the market to get the numbers
definitive list of India Incs richest
of the best paymasters
we estimated wealth and earnings of billionaires
Tide of billionaires
years ago, when Business Standard compiled for the first time a
list of the wealthiest people in India, there were 18 people whose
net worth was more than Rs 1,000 crore each. The number has gone
up to 155 now. And 48 Indians now have wealth of over Rs 4,000 crore,
making them dollar billionaires. In 1999, there were only three.
of the main reasons for this phenomenal increase in wealth is the
unprecedented boom on the stock market since these peoples
wealth is calculated on the basis of their holdings of company stock.
As our cover story shows, as many as 46 turned billionaires by initial
public offerings alone. In a way, the year 2006-07 was also the
year of the landlord as the top seven of these 46 are real estate
success of Corporate India has also been built on the belief that
inherited wealth is no longer the only way to become a billionaire.
Read in this issue the extraordinary sub-plots which involve people
like Sudip Datta who started his career 18 years ago at a monthly
salary of Rs 450. Datta and family are worth Rs 847 crore now, thanks
to their 65 per cent stake in newly listed Ess Dee Aluminium.
real story, therefore, is about Indias growing entrepreneurial
class and the fresh blood that you see in its ranks. While owning
the business is still the best way to become a billionaire, our
report on crorepati CEOs shows that their tribe is also zooming,
with India Inc opening its purse strings like never before to win
the talent war.
fact, the number of senior executives earning more than Rs 2 crore
has almost doubled. This issue has also taken a close look at the
fascinating story of those who have preferred to remain in the unlisted
zone. These include a sprinkling of astute businessmen, celebrity
actors, brokers, painters and media tycoons.
what on earth are our billionaires doing with their money? A lot,
actually. And its not Mukesh Ambani alone who is splurging
on a 27-floor home with space for 150 cars. As our report on the
spending habits of the super rich shows, little-known transport
operator Vijayanand Roadlines also isnt far behind. At the
Bangalore airshow, it treated itself to four aircraft costing $21
billionaires have had an extraordinarily good year, with fascinating
strands to the overall weave of wealth. Happy reading!