Patanjali CEO Balakrishna Beats Flipkart's Bansals, Now 48th Richest Man In India

Yoga guru Baba Ramdev's protege and close associate Balkrishna, the CEO of Patanjali Ayurved has entered India's richest 100 club while Flipkart's co-founder Sachin and Binny Bansal didn't make the cut. Balkrishna is at 48th position in Forbes list with a net worth of USD 2.5 billion and 97 per cent holding in Patanjali Ayurved.

IndiaTimes

¡°¡­ The childhood friend of politically well-connected yoga guru Baba Ramdev, makes debut thanks to his 97 per cent holding in fast-growing consumer goods outfit Patanjali Ayurved, which they co-founded in 2006,¡± Forbes said while releasing its annual India rich list.

Also Read: A Billionaire With Fake Degrees And Passport - This Is Patanjali's CEO Achrya Balkrishna

¡°With revenue of USD 780 million, Patanjali sells everything from herbal toothpastes and cosmetics to noodles and jams. Though Ramdev holds no shares in Patanjali, he is the company¡¯s de facto brand ambassador, while Balkrishna runs operations.

¡°Among much else, Balkrishna also oversees 5,000 Patanjali clinics, the Patanjali University and a yoga and Ayurveda research institute. He says that Patanjali¡¯s profits are donated to various trusts and charities,¡± the magazine said. While Reliance honcho, Mukesh Ambani topping the list for 9th consecutive year, six newcomers have found themselves in the list while 13 whose names were there in list failed to make cut this year.

Also Read: Love It Or Hate It, Ramdev Just Made Patanjali Into A 5,000 Cr Company In Just 10 Years

Those moving out of the list included e-commerce giant Flipkart¡¯s co-founders Sachin Bansal and Binny Bansal. Last year, Sachin and Binny Bansal were ranked 86th with a net-worth of USD 1.3 billion. The minimum amount to make the cut was enhanced from last years USD 1.1 billion to USD 1.25 billion and that's where the Bansal due of Flipkart are out of the list.

IndiaTimes

The 13 who lost their place in the list include textile figure Balkrishan Goenka. Meanwhile, six others who made the cut include India's youngest entrepreneurs - Bhavin (36) and Divyank (34) Turakhia, who sold their ad tech firm Media.Net for $900 million in August. Pawan Munjal, the two-wheeler tycoon takes his father's spot, Brijmohan Lall Munjal, who died last November.

Also Read: Patanjali's CEO Acharya Balakrishna Is Now Among The Richest People In India

Forbes said the list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, analysts and regulators.