He set up a real estate, financial services and power empire with two college buddies in 1997. His Indiabulls Group was backed by steel tycoon Lakshmi Mittal from the start. He returns to the list after a five-year gap following a recent separation from his long-time business partners. While they took over the power interests, Gehlaut retains stakes in housing finance, real estate and securities businesses. He also owns properties in London.