Azim Premji and Shiv Nadar in Forbes list of 100 richest tech tycoons

Posted on:12 Aug 2016 09:42:03
Azim Premji and Shiv Nadar in Forbes list of 100 richest tech tycoons
12 August 2016 Current Affairs: Wipro chairman Azim Premji and HCL co-founder Shiv Nadar are the only two billionaires from India in Forbes' list of the world's 100 richest people in technology, ranking in the top 20 ahead of Google boss Eric Schmidt and Uber chief executive officer (CEO) Travis Kalanick.

The '100 Richest Tech Billionaires In The World 2016' list has been topped by Microsoft founder Bill Gates with an estimated fortune of $78 billion.

 Premji ranks 13th on the list, with a net worth of $16 billion and 

Nadar comes on the 17th spot, with $11.6 billion of net worth. 

Indian-American technology czars — Symphony Technology Group CEO Romesh Wadhwani and founders of IT (information technology) consulting and outsourcing company Syntel Bharat Desai and his wife Neerja Sethi — are also on the list. 

Forbes said Premji, who heads India's third-largest outsourcer, Wipro, has been on a buying spree in the past year to boost growth. 

Premji's son Rishad, who heads strategy and sits on the board, also oversees Wipro's $100-million venture capital fund. Nadar co-founded HCL, which is reportedly mulling a US listing, Forbes said, adding Nadar also owns HCL TalentCare, a skills-development firm. His latest venture is a $500-million fund to invest in startups and US health care technology firms.

Wadhwani comes in on the 67th position with a $3 billion net worth. A recipient of the 2013 Forbes India Non-Resident Philanthropist Award, Wadhwani announced in 2015 that he plans to commit up to $1 billion to fund entrepreneurship initiatives in India.

The titans on Forbes' second annual list of the world's richest in technology are worth a combined USD 892 billion, six per cent more than a year ago. Just over half of the 100 richest in tech are from the US, including eight of the top 10 richest on the list.

China has the second highest number of tech tycoons, with 19 people worth a combined USD 132.7 billion. The richest Chinese member is Alibaba founder Jack Ma, who is on the 8th spot and has an estimated net worth of USD 25.8 billion.

Ellison was also beaten by Facebook founder and CEO Mark Zuckerberg, who climbed from fourth to third place thanks to a 30 percent jump in the value of Facebook's stock; he is now also California's richest person, another title that previously belonged to Ellison.

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