Cyrus, Shapoor Mistry debut in rich list; Mukesh Ambani retains top spot

The Mistry brothers of the Pallonji Mistry Family, the largest shareholders of Tata Sons, have broken into the Top 10 list of rich people in India, according to a new report by Hurun. Released on Tuesday, the Barclays Hurun India Rich List 2018, ranks Cyrus Mistry, erstwhile chairman of Tata Sons, who was ousted in a 2016 boardroom battle, ninth alongwith his elder brother Shapoor Mistry. Their wealth stands at Rs 694 billion each, ahead of Patanjali co-founder Acharya Balkrishna, who has slipped to the eleventh spot on the list. Balkrishna's wealth this year stands at Rs 570 billion, below Rs 700 billion that was reported last year. This comes as Patanjali's rate of growth has slowed this year owing to stiff competition from rivals. Mukesh Ambani has retained the top spot as the wealthiest Indian for the seventh consecutive year. Wealth of individuals in the report has been calculated based on net worth as on July 31, 2018