Gautam Adani
Billionaire Gautam Adani has reclaimed his position as the richest Indian, surpassing Mukesh Ambani, as per the 2024 Hurun India Rich List.
Adani’s net worth skyrocketed by 95% to 1,161,800 million Indian rupees over the past year, a significant recovery from the dramatic decline that followed the Hindenburg Research report’s allegations.
In contrast, Reliance Industries Chairman Mukesh Ambani saw a 25% increase in his wealth, bringing his total to 1,014,700 million Indian rupees.
Last year, Adani’s wealth had plunged by 57% to 4,740,000 million Indian rupees, making way for Ambani to lead the rankings at 8,080,000 million Indian rupees.
The steep drop in Adani’s fortune was a result of allegations from the US-based firm Hindenburg Research, which accused his conglomerate of various financial improprieties.
However, Adani’s group has consistently denied these allegations. Interestingly, back in the 2014 edition of the Hurun list, Adani’s wealth stood at 440,000 million Indian rupees, making him the 10th richest Indian at the time.
This year’s rankings also feature other prominent names. Shiv Nadar and his family of HCL have secured the third position with a net worth of 314,000 million Indian rupees.
Meanwhile, Cyrus Poonawalla of the Serum Institute of India has dropped to fourth place with a wealth of 289,800 million Indian rupees.
Dilip Shanghvi of Sun Pharmaceuticals has climbed to become the fifth richest individual in India, up from sixth place last year, with a net worth of 249,000 million Indian rupees.
In the domain of self-made women, Radha Vembu of Zoho has emerged as the wealthiest, with a fortune of 475,000 million Indian rupees.
Among the youngest entrants on the list are Kaivalya Vohra and Aadit Palicha, co-founders of Zepto, with net worths of 36,000 million Indian rupees and 43,000 million Indian rupees, respectively.
The 2024 Hurun India Rich List has expanded significantly, now featuring 1,539 individuals with a net worth exceeding 10,000 million Indian rupees, marking an increase of 220 people compared to last year. Overall, the total wealth represented in the list has surged by 46% over the past year.
In an interesting development, Bollywood actor Shah Rukh Khan made his debut on the list with an estimated fortune of 73,000 million Indian rupees, surpassing his business partner Juhi Chawla, who has a net worth of 46,000 million Indian rupees, ranking her second among entertainers.
The list also includes 16 professionals, with Arista Networks CEO Jayshree Ullal leading at 321,000 million Indian rupees, followed by D-Mart CEO Ignatius Navil Noronha at 69,000 million Indian rupees.
Kumar Pritamdas Gera of Gera Developments recorded the fastest wealth growth at 566%, while Ambani and Adani posted the most significant absolute gains in wealth, according to the report.
