Dilip Shanghvi overtakes Mukesh Ambani as richest Indian in Forbes' list

Dilip Shanghvi, founder and managing director of Sun Pharmaceuticals , on Wednesday surpassed Mukesh Ambani as the world's richest Indian with a net worth of US $21.5 billion - within two days of the Reliance Industries chief being ranked the country's wealthiest for the 8th straight year.

As per a 'real time' update from business magazine Forbes, known for its annual rich lists, pharma tycoon Shanghvi was ranked the richest Indian, followed by Mukesh Ambani and tech czar Azim Premji at second and third positions, respectively, among Indians. On the global rich list, Shanghvi on Wednesday moved up to 37th position, while Ambani slipped to the 43rd position.

Earlier on Monday, Forbes had released its annual Rich List for 2015, wherein Ambani was ranked 39th - highest among Indians - while Shanghvi was at 44th place.

Premji was ranked 48th on that list, from which he has moved up one place now.

Shanghvi's networth on Wednesday stood at US $21.5 billion, following a sharp rally in share prices of his group companies, while that of Ambani was US $20.4 billion.

The Annual Rich List had put Ambani's wealth at US $21 billion, based on share prices and exchange rates as on February 13.

Ambani has been ranked as richest Indian for eight consecutive years now on the Forbes' annual rich lists, even as his ranking has come down sharply from among top-ten positions globally earlier.