The Hurun India Rich List 2024, released on Tuesday, highlights notable shifts in the wealth rankings of India’s top business magnates, with Gautam Adani and Mukesh Ambani leading the way.
Gautam Adani, founder of the Adani Group, secured the top spot on this year’s list, surpassing Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL). Adani’s wealth surged to approximately Rs 11.6 lakh crore, marking a 95% increase from the previous year. Meanwhile, Ambani and his family hold the second position with a total wealth of Rs 10.1 lakh crore.
The third spot on the list is occupied by the Shiv Nadar family, followed by Cyrus S. Poonawalla of the Serum Institute of India and Dilip Shanghvi of Sun Pharmaceutical Industries.
Over the past five years, six individuals have consistently appeared in the India Top 10: Gautam Adani, Mukesh Ambani, Shiv Nadar, Cyrus S. Poonawalla, Gopichand Hinduja, and Radhakishan Damani.
According to the report, the total number of Indian billionaires has risen to 334, with a combined wealth of Rs 159 lakh crore. This figure surpasses the combined GDP of Saudi Arabia and Switzerland and accounts for more than half of India’s GDP.
Anas Rahman Junaid, Founder and Chief Researcher at Hurun India, noted the resilience and growth of Indian entrepreneurs, stating, “India continues to lead in wealth creation. The 2024 Hurun India Rich List reflects this with a record number of billionaires. The top 20 sectors all introduced new faces to the list, showcasing the entrepreneurial spirit driving growth across the country.”
The list also features founders of technology startups, with 55 individuals from this sector collectively holding Rs 2,87,100 crore in wealth. The average age of these tech entrepreneurs is 40. The youngest billionaire on the list is 21-year-old Kaivalya Vohra, co-founder of the quick commerce startup Zepto, while the youngest self-made woman entrepreneur is Neha Bansal, 42, co-founder of eyewear retail company Lenskart.
This year’s list also includes 52 founders of 29 unicorns, underscoring India’s emergence as a hub for wealth creation in Asia. While China witnessed a decline in its number of billionaires, India saw a 29% increase, reaching a record 334 billionaires. The 2024 Hurun India Rich List features 1,539 individuals, representing a wide array of wealth creators—from family-run businesses and startup founders to private equity investors, next-generation leaders, and even film stars.
Junaid added, “India is becoming Asia’s engine of wealth creation. The stories in the Hurun India Rich List not only reflect the dynamics of India’s modern economy but also offer a glimpse into its promising future.”
(ani)