Flipkart’s co-founders Sachin and Binny Bansal debut on Forbes list

The Famous Indian eCommerce site Flipkart has at last got its founders to debut on Forbes Billionaire list. Binny Bansal and Sachin Bansal who have been business partners from the time they have met in IIT Delhi have later worked for amazon before the jumped off with their very own eCommerce site Flipkart, which has been growing from strength to strength. It is reportedly preparing for an initial public offering (IPO), is valued at USD 15.2 billion.

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According to Forbes, they are the first billionaire duo to be minted in India’s e-commerce boom.

Flipkart, which is reportedly preparing for an initial public offering (IPO), is valued at USD 15.2 billion.

Flipkart’s Binny Bansal is the youngest on the list at 32 years. The list saw as many as 12 newcomers including Flipkart’s founders and low-cost airline IndiGo’s co-founder Rakesh Gangwal who debuted at 70th position with a net worth of $1.6 billion. Mr Gangwal’s partner Rahul Bhatia moved up 12 positions to 38th position on the Forbes list with a net worth of $2.4 billion.

Amongst this the list named Dubai-based Sunil Vaswani of the Stallion Group, a conglomerate with business presence in the West Africa the wealthiest newcomer, entering the ranking in the 48th spot with a net worth of USD 2 billion.

Meanwhile, Reliance Industries Chairman Mukesh Ambani held on to this richest India tag for the ninth straight year with a net worth of $18.9 billion. Mr Ambani’s wealth, however, dipped by $4.7 billion in a year.

Sun Pharma’s Dilip Shanghvi, who briefly displaced Mr Ambani as the India’s richest earlier this year, took the second spot on the richest billionaire list with a net worth of $18 billion. IT major Wipro’s Azim Premji retained his third place with $15.9 billion.

The minimum threshold for making it to the Forbes list increased from $1 billion to $1.1 billion in 2015, the magazine said.

In the top ten, Hinduja brothers were ranked 4th with $15.9 billion, followed by Pallonji Mistry at $14.7 billion, Shiv Nadar ($12. 9 billion), Godrej family ($11.4 billion), Lakshmi Mittal ($11.2 billion), Cyrus Poonawalla ($7.9 billion) and Kumar Mangalam Birla ($7.8 billion).

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