The rise in wealth can be attributed to Chinese e-commerce behemoth Alibaba's investment in the company and subsequent funding rounds that have raised Paytm's valuation. His co-founder Ankit Bhati is no longer in the list, which looks at those with wealth of Rs 1,600 crore and more. Hurun's Junaid said Bhati does not have as much stake as Aggarwal does at present.In Hurun's overall list, Paytm's Sharma is ranked only 103. 1 with his wealth at Rs 1.63 lakh crore, almost the same as that last year. The average wealth, however, dropped 7% due to lacklustre performance of key sectors such as technology, jewellery and trading, the report said.

Source: Economic Times September 07, 2016 22:31 UTC