Richest Indian

India is riding on the boom of inflated stock prices. So the promoters whose companies are listed are being made paper billionaires and get their names listed in Forbes Richest Man List. While all the tycoons who stay away from stock market come nowhere in the list.

1) For a long time promoters Reliance Industries, Wipro, Infosys were being branded as the richest companies in India while Ratan Tata was no where to be seen. Simply because the Jewel in the Tata’s Crown, TCS (which is much bigger and valuable than Infosys and Wipro) as well as the Tata Sons are not listed. So their value was kept to ZERO.
2) Sahara Empire which is practically in all the businesses in India from Airlines to Media to Construction never figures in the Rich List.
3) People were unaware of the riches of DLF group until they started talking about their IPO. This was in spite of everybody realizing that most of Delhi’s (NCR) Planned Construction was undertaken by them.

The list goes on…..
Why:
Computing the value of a listed company is simple. You open a newspaper, find out the stock price, then you go to the BSE website find the promoter holding. Using a Calculator provided by Windows and press the Multiply Button and…
Wow…. You know how much Azim Premji is worth.

But Subroto Roy is worth nothing. Why?
1) His company (Sahara Group) is not listed so it is of zero value.
2) He owns properties, offices, real-estate all over the country, but who will take the pains to account for it.
3) He has invested in companies and deals across the globe, but I cannot compile the complete list of them.
4) I do not have enough time to go to the Income Tax office to get a clue of how much he earns.
5) If I hire an analyst (yes, based on the turnover and profits you can estimate its net worth) who will pay him.

The journalist and Media Analysts of today thinks that if it takes more than 60 seconds to collect their data, it is not worth it. Investigative Journalism means stalking the celebrities and visiting Page 3 parties to catch-up with the latest gossip instead of working under-cover to break a racket.

The picture is a bit out of context, but it is just to show what Media does to improve its ratings