Gautam Adani Pips Mukesh Ambani To Become Richest Indian
The 2024 Hurun India Rich List noted that Gautam Adani & family made the most gains in the last year with wealth rising significantly by 95% in absolute terms.
Gautam Adani, 62, and his family have secured the top position on the 2024 Hurun India Rich List. Adani's wealth has surged by 95% over the past year, reaching an unprecedented Rs 11.6 lakh crore.
This rise propels Adani from the fourth position in 2020 to the number one spot in the latest Hurun India Rich List.
Adani's ascent is marked by recovery following the Hindenburg report, which had raised significant scrutiny.
Adani Ports and Special Economic Zone Ltd. saw a 98% increase in share prices, along with a 76% average growth across his energy sector enterprises. The recent lifting of restrictions on Adani Group securities by MSCI further signals a stabilising outlook.
Let's take a look at the top five wealthiest individuals who made it to the list:
Key Highlights
For the first time, the Hurun India Rich List has surpassed 1,500 entrants, reflecting a 150% increase from seven years ago. The cumulative wealth of Hurun India Rich List members now exceeds Rs 159 lakh crore, surpassing the combined GDP of Saudi Arabia and Switzerland.
India now has 334 billionaires in dollar terms, marking a six times increase since the list's inception 13 years ago. The country minted a new billionaire every five days over the past year.
Shah Rukh Khan, 58, made his debut on the list, with a wealth of Rs 7,300 crore, thanks to his stakes in Kolkata Knight Riders and Red Chillies Entertainment. He led a wave of new entrants from the entertainment industry, including Juhi Chawla, Hrithik Roshan, Karan Johar, and Amitabh Bachchan.
Hyderabad surpassed Bengaluru for the first time, ranking third in terms of the number of residents on the list. The city saw 17 new entrants this year.
The industrial products sector contributed the most individuals to the list, with 142 entries, followed by pharmaceuticals and chemicals and petrochemicals. Real estate and industrial products saw significant wealth increases.
A record 1,008 individuals, or 65% of the list, are self-made billionaires. This includes 64% of the new faces this year. Notably, Radha Vembu of Zoho remains the richest self-made Indian woman.
The youngest billionaires include Kaivalya Vohra of Zepto, aged 21, and Aadit Palicha, 22. Razorpay founders Harshil Mathur and Shashank Kumar, both 33, also made it to the list.
Kumar Pritamdas Gera of Gera Developments and Jitendra Ujamsi Mamtora of Transformers & Rectifiers are the biggest gainers in terms of percentage wealth increase, with rises of 566% and 523% respectively.
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