Sun Pharma’s Dilip Shanghvi overtakes Mukesh Ambani as the richest Indian

Hyderabad: After topping the Indian rich list for seven consecutive years, Reliance Group chairman Mukesh Ambani has been overtaken by Dilip Shanghvi, the founder of world’s second largest generic drug maker Sun Pharma on Wednesday.

According to the Bloomberg Billionaires Index, Shanghvi has a personal net worth of $21.7 billion compared to Ambani’s $21.6 billion.

A 6.7 per cent rise in Sun Pharma’s stock and a 1.4 per cent decline in RIL’s scrip had catapulted Shanghvi to the zenith of the Indian billionaire list.

Though the difference between them is $100 million that could change if RIL scrip soars, this event places Shanghvi at the peak of his career, which started in 1982 with a company that made just one drug. According to Bloomberg, most of Shanghvi’s wealth comes from his 60.8 per cent stake in Sun Pharma. “He also owns shares of Sun Pharma Advanced Research, Natco Pharma and Bio Light Israeli Life Sciences Investments,” the US-based newswire said in its web edition.

Dilip Shanghvi’s current networth doesn’t include the value of his share in Suzlon Energy and Ranb-axy, while Mukesh Ambani’s valuation excludes the value of his stake in Reliance Gas Transportation Infrastructure.