Dilip Shanghvi among Asia's richest self-made billionaires

Dilip Shanghvi among Asia's richest self-made billionaires

Dilip Shanghvi among Asia's richest self-made billionaires

Sun Pharmaceuticals Industries' Dilip Shanghvi has been named in the list of Asia's top ten wealthiest self-made billionaires, topped by Hong Kong business tycoon Li Ka-Shing, according to Wealth-X.

Shanghvi, ranked seventh, is the only Indian on the list with a net worth of USD 13.5 billion, while Li Ka-Shing topped the chart with a fortune of USD 29.4 billion, ultra high net worth (UHNW) intelligence and prospecting firm Wealth-X said.

Shanghvi founded Sun Pharmaceuticals in 1983 with five psychiatry products and a marketing team of just two persons. Over the years, the company grew manifold and made many acquisitions, the latest being the USD 4 billion Ranbaxy deal.

He is also the Chairman and Managing Director of Sun Pharma Advanced Research Company and Shantilal Shanghvi Foundation.

The overall list was dominated by the Chinese, as the combined wealth of the seven individuals from Hong Kong and mainland    China stood at USD 128.7 billion, nearly 70 per cent of the total wealth of the 10 men on the list.

"Asia is still at the early stages of a 150 year cycle of wealth creation, and we expect wealth in the region will be extremely dynamic in the years to come," Wealth-X CEO Mykolas Rambus said.

He added: "China will continue to dominate the Asian economic landscape and the wealth of China's ultra-high net worth population will increase at a rapid clip."

Combined wealth of Asia's top ten self-made billionaires jumped 52 per cent to USD 169.9 billion as of March 31, 2014 from USD 112 billion last year.

Others on the list include Lee Shau Kee of Hong Kong at the second position with net worth of USD 22.8 billion, followed by Lui Che Woo (Hong Kong, USD 21.1 billion) and Wang Jianlin (China, USD 16.6 billion) in the second and third place, respectively.

Masayoshi Son of Japan was ranked fifth on the list with a fortune of USD 16.4 billion, Robert Kuok of Hong Kong (6th, USD 15 billion), Ma Huateng of China (8th, USD 13.2 billion), Charoen Sirivadhanabhakdi of Thailand (9th, USD 11.3 billion) and Li Hejun of China (10th, USD 10.6 billion).