Billionaires' club has record 126 members; combined wealth is $728 bn now

Mukesh Ambani of Reliance Industries once again topped the charts with an all-time high net worth of around $104.7 billion (or Rs 7.85 trillion)

A strong rally on Dalal Street over the past one and a half years and an unprecedented boom in initial public offerings (IPOs) have continued to swell the number of billionaire promoters in India.

The number of promoters and businessmen with net worth of $1 billion (around Rs 7,500 crore) reached an all-time high of 126, up from 85 at the end of CY20. These billionaire promoters have a combined wealth of around $728 billion (around Rs 54.6 trillion), up from around $483 billion (around Rs 35.3 trillion) at the end of 2020.

The combined wealth of the 126 billionaire