The oldest Indian billionaire on Forbes rich list is 92! See who he is

Farmer's son, Singh worked in a chemist's store before venturing out on his own distributing pharmaceuticals. Shares of the generics maker, known for its antibiotics Clavam and Taxim, have more than doubled since its November 2016 IPO.

Forbes rich list: Samprada Singh was ranked 1,867th on the list with a fortune of $1.2 billion. Image source: Facebook

Forbes Billionaires' list 2018 is finally out with India adding 19 new billionaires in 2018, taking the tally to 121 among 2,208 billionaires worldwide. With this, India has become the third largest group of the ultra-rich after US and China. 92-year-old Samprada Singh, chairman emeritus of Alkem Laboratories is the oldest Indian billionaire. He was ranked 1,867th on the list with a fortune of $1.2 billion.

Farmer's son, Samprada Singh worked in a chemist's store before venturing out on his own distributing pharmaceuticals. Shares of the generics maker, known for its antibiotics Clavam and Taxim, have more than doubled since its November 2016 IPO. Singh founded the pharma firm 45 years ago.

For the year ended March 2017, Alkem reported a 20 per cent rise in net earnings to $139 million on revenues of $913 million.

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Meanwhile, 39-year old Vijay Shekhar Sharma, founder, Paytm is the youngest Indian billionaire, according to Forbes.

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"One of the biggest beneficiaries of India's demonetisation, Paytm has notched up 250 million registered users and 7 million transactions daily. Sharma owns 16 per cent of Paytm, which is now valued at $9.4 billion," Forbes said.

Mukesh Ambani, the energy and petrochemicals magnate, kept his standing as the richest Indian. He is richer by $16.9 billion in 2018 with assets of $40.1 billion. He moved up to the 19th global rank. In 2017, he ranked 33rd with $23.2 billion.

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