Dubai has now emerged as a favourite residential destination for India’s super rich. 9% of the 141 persons, each with over US$ 300 million (INR 1,890 Crore) in assets, now reside in the Gulf emirate, up from just one person last year, according to the China-based Hurun India Rich List 2013. The Dubai-based Indian millionaires include Micky Jagtiani of the Landmark Group, Ravi Pillai of the Ravi Pillai Group, the Chhabria family of the Jumbo Group, Sunny Varkey of Gems Education, Tony Jashanmal of the Jashanmal Group and Joy Alukas of Joyalukas Jewellery. Yogesh Mehta of Petrochem ME, Rizan Sajan of Danube Group, Deepak Babani of Eros, Azad Moopen of DM Healthcare, Ramesh S Ramakrishnan of the Transworld Group, Santosh Joseph of Dubai Pearl and Lachmandas Pagarani of the Al Maya Group are also on the list of Indian millionaires living in Dubai. On the other side, the share of India’s super rich living in Delhi, Mumbai and Bangalore has dwindled by 3 to 7 per cent, according to the list. Mukesh Ambani of Reliance Industries Ltd topped the list with a net worth of US$ 18.9 Billion, followed by Laxmi N. Mittal of Arcelor Mittal with US$ 15.9 Billion. Interestingly, Sun Pharmaceutical Industries Ltd’s Dilip Shanghvi broke into the top three for the first time with a 66 per cent annualised increase in his net worth, thanks to a rise in the company stock price along with expected sales of the cancer drug, Doxil.

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