Nirav Modi, Prince Alwaleed Bin Talal al Saud, John Schnatter, Christoffel Wiese Dropped From Forbes Billionaire List 2018

Mumbai, March 7: Celebrity diamond merchant Nirav Modi, who is an accused in the Punjab National Bank’s alleged Rs 12,600 fraud, is among the ones who have been dropped from the 2018 billionaire list of richest persons prepared by Forbes.

Along with Nirav Modi, Papa John’s Pizza founder John Schnatter, Saudi Arabia Prince Alwaleed Bin Talal Al Saud and Christoffel Wiese of South Africa have also been removed from the list.

The billionaire Nirav Modi and his uncle Mehul Choksi have been accused of defrauding the state lender PNB of an amount that is purportedly around a whopping figure of Rs 12,600 crore, with Rs 1,300 crore being added to the fraud kitty on February 26.

The diamondaire Nirav Modi has denied any wrongdoings and claims to owe only Rs 5,500 crore to the state lender.

Acharya Balkrishna, co-founder of Patanjali is the 274th richest in the global list this year while he had made it to the 19th slot in the list of the richest Indians in 2017. The 45-year-old businessman holds 98.6 per cent of the stake of the privately-held company which he co-founded with Baba Ramdev two-years ago.

According to a report Patanjali Ayurved an FMCG company has a net worth of $6.3 billion.

“Acharya Balkrishna derives his fortune from fast-growing consumer goods giant Patanjali Ayurved. Balkrishna owns 98.6 per cent of the privately-held company, which he co-founded with politically well-connected yoga guru Baba Ramdev,” Forbes said.

Forbes said that India is home to 119 billionaires, 18 more than last year.

This year’s Forbes list comprises of 2,043 of the richest people in the world. The combined net worth of this elite group is whopping $9.1 trillion, higher by 18 per cent since last year. The average net worth of those of the list is a record $4.1 billion.


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