Flipkart co-founders Sachin (right) and Binny Bansal were ranked 86 on the 2015 Forbes India Rich list
Image: Mallikarjun Katkol
In September last year, Flipkart founders Sachin Bansal and Binny Bansal (they are not related) made their debut on Forbes India’s annual rich list. With the ecommerce giant being valued at $15.2 billion, the Bansals’ net worth was estimated to be $1.5 billion each, making them the first ever ecommerce entrants to the rich list. It has been a rocky twelve months since, for both Flipkart and its founders: Five of its investors have marked down the value of their investments in the company, competition from deep-pocketed rival Amazon has intensified, and there’s also been a leadership change. This year, the Bansals do not feature on our list.
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(This story appears in the 10 November, 2016 issue of Forbes India. To visit our Archives, click here.)