Salute the entrepreneur

BS Research Bureau

This year's Billionaire Club updates you on who's who in the world of the rich, on who's climbed up the greasy pole of success, who's slid down it, who have made it through the portals of this super-exclusive club and all the other essentials for determining who's who in the economic pecking order.

But it also does much more. Since the wealth of billionaires is closely tied to the fortunes of the stock market, the ups and downs in the latter are reflected in the billionaire rankings. In a way, therefore, trends in Billionaire Club mirror changes in the market. The downturn in the shares of IT companies, accordingly, has led to a vast erosion in the fortunes of tech billionaires.

Conversely, the rise in prices of steel or textile stocks has boosted the wealth of promoters in these sectors. Yet, it would be wrong to tie the wealth of Billionaires Club members to the vagaries of the stock market alone - underlying strengths too are brought out. To take one example, the rise of Indian manufacturing, with fabulous success stories in industries such as auto ancillaries and pharmaceuticals, is now reflected in the increased valuations of these sectors, with a corresponding effect on the wealth of the owners of these companies.

Billionaire Club, therefore, is much more than a pecking order for rich men - it's also a snapshot of the changing trends in the Indian economy. By focusing the spotlight on our billionaires, we showcase the creators of value in the economy. Money, our measuring rod, is merely the fruit of success, and it is the attitude that lies behind the money that is important.

Consider, for instance, the new entrants to this year's Billionaire Club - almost all of them are first-generation entrepreneurs who have made their money through grit, hard work and by daring to dream big. It also needs to be remembered that our billionaires not only create wealth for themselves but in the process also create value for hundreds of thousands of employees, customers and shareholders as well. In fact, that's the crux of this whole business of wealth creation.

The American economist Joseph Schumpeter pointed out long ago that the entrepreneur is at the heart of all wealth creation, not only for a particular business, but also for a nation and indeed for the world. Billionaire Club is a tribute to that entrepreneurial spirit.

The Richest Indians | Turnstile | Billionaires in Industries | School Scan | Power Play | Taking A Break |
The Richest Indians Overseas | The World of The Affluent | Enroute To The Billionaire Club | Methodology | Top Ranking & Earners |

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