Billionaire Gautam Adani has claimed the top spot on the 2024 Hurun India Rich List, surpassing Mukesh Ambani with a staggering wealth of Rs 11.6 lakh crore. Adani, 62, and his family have dethroned Ambani, who now holds the second position with a fortune of Rs 10.14 lakh crore.
Adani’s rise to the top reflects his dominant presence in the Indian business landscape, marking a significant shift in the rankings. Ambani, who has long held the title of the richest man in India, now finds himself in the second position for the first time in years.
The Hurun India Rich List also features other prominent billionaires, including Shiv Nadar of HCL Technologies, who holds the third position with Rs 3.14 lakh crore, and Cyrus S. Poonawalla of Serum Institute of India, who ranks fourth.
The report highlighted the rapid pace of wealth creation in India, noting that the country is now minting a new billionaire every five days. This year, the list includes 1,539 individuals with a net worth of Rs 1,000 crore or more, an increase of 220 people from the previous year.
The cumulative wealth on the list has surged by 46%, with the average wealth rising by 25%. Among the individuals on the list, 1,334 saw their wealth either increase or remain the same, while 272 were new entrants. However, 205 individuals experienced a decline in wealth, and there were 45 dropouts.
India now boasts 334 billionaires, an increase of 75 from the previous year. The Real Estate and Industrial Products sectors contributed the most new entrants to the list, with Industrial Products remaining the leading sector, accounting for 142 individuals.
In a reflection of the dynamic and youthful nature of wealth creation in India, the youngest person on the list is just 21 years old.
Anas Rahman Junaid, Founder and Chief Researcher of Hurun India, commented on the report, stating, “India continues to score Gold in the ‘Wealth Creation Olympics’. The number of billionaires in 2024 Hurun India Rich List hits triple century, with all the top 20 sectors adding new faces to the list! The top 20 sectors all added new faces, showcasing the unstoppable spirit of Indian entrepreneurs as they drive growth across the board.”
Wealth calculations for the 2024 Hurun India Rich List are based on a snapshot taken as of July 31, 2024. The list provides a comprehensive overview of the wealth distribution among India’s richest individuals and highlights the sectors driving growth and wealth creation in the country.