Thursday, March 10, 2011

7 in world's 100 richest. What about India's 'hidden' billionaires?

The number of Indians in the annual Forbes rich list came as no surprise. But stud farm owner Hasan Ali Khan wasn't among the seven Indians in the Top 100.

Khan, who insists he earns a modest living as a scrap metal merchant, is accused of illegally stashing billions of dollars in overseas accounts.

Media reports suggest the Pune-based businessman will have to cough up 620 billion rupees in tax evasion penalties. That's over $1.3 billion -- and may be just a fraction of Khan's net worth.

A fortune of $9 billion is good enough for a place in this year's Forbes Top 100 list. Does that mean India is home to more such 'hidden' billionaires?

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