Mapping India's Rich: Two In Three Entrants On Hurun's Rich List Are First Generation
The overall rich list grew by 40% in two years and billionaire count has gone up by more than 100.
Nearly 80% of the billionaires on the 2024 Hurun India Rich List were above the age of 50 years. The 61-70 year-old age group led, accounting for 32.7% of the billionaires on the list.
The overall rich list grew by 40% in two years and the billionaire count has gone up by more than 100.
"Assuming that for every one Hurun Rich lister we have found, we have probably missed two. India today likely has 5,000 individuals worth INR 1,000 crore," Anas Rahman Junaid, founder and chief researcher at Hurun India, stated in the report.
8.5% of the entrepreneurs in the list were in the age group of 41-50 years, while 3.2% of the list belonged to the age group of 31-40 years. Only 0.6% of the rich on the list were below the age of 30 years.
As the age placed most of the wealth in the above-50 years category, the spread of wealth across generations reflected the same. The first generation accounted for the most number of billionaires.
A quarter or 396 of the entrants on the list were second-generation. The second-generation entrepreneurs in the list were led by Mukesh Ambani, aged 67.
Thirty-nine billionaires in the list were the third generation, and three billionaires in the list were the fourth generation entrepreneurs.
The list had 12 entrepreneurs who belonged to the fifth generation of their family business. Anand Burman of the Burman Group was the richest in the category of entrepreneur who is from the fifth generation to head the family business.
The list also saw a significant amount of new entrants from the real estate sector, with 42% of billionaires from the industry.
Industrial products followed closely, with 40% of the billionaires coming from the list. Chemicals and petrochemicals, along with the metals and mining industry, together accounted for nearly 33% of billionaires in the list.
