The Top 10 Richest Indians in 2013
Curated By: Forbes India
10. Sunil Mittal ($6.6 billion)
After a long downward spell, shares of Sunil Mittal’s Bharti Airtel which has 275 million customers worldwide, perked up when it reported higher revenues per user in last quarter. In June it sold a 5% stake for $1.2 billion to the investment arm of the state-owned Qatar Foundation. Company faced hitch when federal auditor recommended that Bharti along with other firms be fined for allegedly using 3G spectrum that they didn’t own. In April, Mittal appeared in court in another case involving granting of additional telecom spectrum. Both cases are ongoing. Mittal was also was in the news for breaking off with Wal-Mart, his partner in a six-year old joint venture that was troubled by allegations of wrongdoing. The U.S. retailer will acquire his stake in the wholesale business while he will continue to own a separate chain of grocery stores, run by brother Rajan.
After a long downward spell, shares of Sunil Mittal’s Bharti Airtel which has 275 million customers worldwide, perked up when it reported higher revenues per user in last quarter. In June it sold a 5% stake for $1.2 billion to the investment arm of the state-owned Qatar Foundation. Company faced hitch when federal auditor recommended that Bharti along with other firms be fined for allegedly using 3G spectrum that they didn’t own. In April, Mittal appeared in court in another case involving granting of additional telecom spectrum. Both cases are ongoing. Mittal was also was in the news for breaking off with Wal-Mart, his partner in a six-year old joint venture that was troubled by allegations of wrongdoing. The U.S. retailer will acquire his stake in the wholesale business while he will continue to own a separate chain of grocery stores, run by brother Rajan.
