The Full List of Indian Billionaires In 2023 - Who Are Top 10 Richest People In India?
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| How many billionaires are there in India - Photo: Indian Express |
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How many billionaires are there in India?
India has 221 billionaires, according to the IIFL Wealth Hurun India Rich List 2022.
While chemicals and financial services added the greatest number of new entrants to the list, pharma is still at number one and has contributed 126 entrants to the list. The youngest on the list is aged 19, four years younger than the youngest last year.
| Healthcare Sector At #1 There are about 37 billionaires from the healthcare sector with a total wealth of $105 billion, which is primarily because of the Coronavirus pandemic. |
In fact, the richest 98 Indians own the same wealth as the bottom 552 million.
The rich continued to become richer with the wealth of India’s richest families reaching a record high in 2021; even as 84 per cent of households saw their incomes declining during the pandemic.
If each of the 10 richest Indian billionaires were to spend $1 million daily, it would take them 84 years to exhaust their current wealth.
That’s not enough. Just an additional one per cent tax on the richest 10 per cent can provide the country with nearly 17.7 lakh extra oxygen cylinders, while a similar wealth tax on the 98 richest billionaire families is capable of financing Ayushman Bharat - the world's largest health insurance scheme - for more than seven years. The wealth of the ten richest is enough to fund school and higher education of children in the country for 25 years.
How much do richest people in India own?
Forbes has launched its annual list of the country’s 100 richest billionaires and according to the list, the combined wealth of India’s 100 richest grew by $25 billion to touch $800 billion.
The report noted that the rise was mainly due to a record-breaking feat by Adani group chairman Gautam Adani, whose wealth doubled this year to $150 billion, making him the richest Indian and replacing Reliance Industries (RIL) chairman & managing director Mukesh Ambani at the top of the list.
According to the Forbes data, the cumulative net worth of the top 10 richest stands at $385.2 billion, up 15.1 per cent from 2021.
READ MORE: The Full List of British Billionaires In 2023 - Who Are The Richest People In The UK?
Who are richest people in India?
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| Forbes 2022 India Billionaires: Mukesh Ambani and Gautam Adani. Photo Indian Express |
India’s first richest person, Gautam Adani & family has a staggering net worth of $135.8 billion. Gautam Adani controls the Mundra Port, which is the largest in Gujarat. Adani Group has its interests spread across sectors like power generation and transmission, real estate, commodities and infrastructure. In September 2020, Adani acquired a 74% stake in the second busiest airport of India, the Mumbai International Airport. Adani also owns a coal mining project in Australia known as Abbot Point.
Gautam Adani has become the third richest person in the worldAccording to Forbes’ real-time billionaire’s list, Gautam Adani, Asia’s richest man, has eclipsed Amazon CEO Jeff Bezos to become the world’s third-richest person. Gautam Adani recently became Asia’s richest person. Then he left Bill Gates & Warren Buffett behind. Following it, his dominance on the list of the top ten billionaires grew. When comparing the wealth of the world’s third richest person, Gautam Adani, with the fourth richest person, Jeff Bezos, there is a USD 12.1 billion gap in their total fortune. Gautam Adani founded an Indian multinational business in Ahmedabad in 1988. Adani Enterprises Limited was established as a commodities trading company. Its numerous industries include port management, airport operations, mining, electric power production and transmission, sustainable sources, natural gas, food processing, and infrastructure. The organisation operates in 70 locations throughout 50 nations. In April 2021, the Group became the third Indian corporation to surpass USD 100 billion in total market valuation. |
| How much did Mukesh Ambani earn every hour during the lockdown? According to a report in the Economic Times, Mukesh Ambani earned 90 crores every hour since March, when the lockdown was announced. The figures were shared in the IIFL Wealth Hurun India Rich List 2020. |
2. Mukesh Ambani (net worth $88 billion)
Scoring tenth place among the richest persons in the world in 2022, Mukesh Ambani has $91 billion in net worth. The founder and chairman of Reliance Industries has his interests across petrochemicals, oil and gas, retail and telecom. The launch of 4G phone services in the Indian telecom market by Reliance in 2016 spiked a price war creating strong whirls and sending several networks out of business. During the COVID-19 lockdown period, Mukesh Ambani sold one third of Jio to some investors like Google and Facebook raising over $20 billion.
| According to fortune India’s rich list, Ambani is presently worth 94.57 billion dollars, making him the 2nd person in Asia. |
3. Radhakishan Damani (net worth $27.6 billion)
Radhakishan Damani owns the DMart chain of supermarkets. According to Forbes data, he has a net worth of Rs 222,908.66 crore. In 2002, Damani entered the retail business with one store and now there are 271 DMart stores in India. He broke into the top three for the first time though his net worth declined by 6 per cent to $27.6 billion.
4. Cyrus Poonawalla (net worth $21.5 billion)
Cyrus Poonawalla’s net worth stands at $21.6 billion making him the fourth richest person in India in 2022. He founded Serum Institute of India in 1966, which is today the largest vaccine maker in the world in terms of doses. The firm produces more than 1.5 billion doses of a variety of vaccines for flu, polio and measles. His son Adar is the CEO of Serum which has also invested around $800 million to build a new factory producing Covid-19 vaccines.
5. Shiv Nadar (net worth $21.4 billion)
Shiv Nadar is the chairman emeritus of HCL Technologies and has a net worth of Rs 172,834.97 crore. Nadar is considered as one of the pioneers of the Indian IT industry. He has donated $662 million to education-related causes, a record this year. His net worth saw a $9.6 billion decline, the biggest drop in net worth in absolute terms, but despite the fall, Nadar retains his spot in the Top 10.
6. Savitri Jindal (net worth $16.4 billion)
Savitri Jindal is the chairperson emeritus of O.P. Jindal Group and the only woman billionaire and active politician in the top 10 list. According to Forbes, her net worth is Rs 132,452.97 crore.
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7. Dilip Shanghvi (net worth $15.5 billion)
Dilip Shanghvi’s $16.2 billion net worth places him in the seventh position among the country’s richest persons in 2022. In 1983, his father gave him $200 to start Sun Pharma manufacturing psychiatric drugs. Today, the firm is among the nation’s leaders in pharmaceutical supplies with an annual revenue of $4.5 billion. Sun Pharma grew through several acquisitions and the notable one was the purchase of Ranbaxy Laboratories in 2014 in a deal worth $4 billion. Over the recent past, Shanghvi has also invested in oil and gas and renewable energy.
8. Hinduja Brothers (net worth $15.2 billion)
Hinduja group was started by Parmanand Deepchand Hinduja in 1914. It is now controlled by four siblings, Srichand, Gopichand, Prakash, and Ashok. The brothers’ total wealth stands at Rs 122,761.29 crore.
9. Kumar Birla (net worth $15 billion)
Textiles-to-cement conglomerate Aditya Birla Group’s chairman Kumar Birla has a net worth of Rs 121,146.01 crore.
Sir Mangalam Birla is still the Chairman of Aditya Birla Group, an Indian multinational with operations in 36 nations on six continents.
He was the architect of the Group’s over Forty successful acquisitions in India and overseas, the most of any Indian multinational. According to Forbes’ Annual Billionaire list, Kumar Birla’s net wealth is $19.25 billion.
READ MORE: Interesting Facts About Youngest Billionaires In The World Today
10. Bajaj Family (net worth $14.6 billion)
The family owns a network of 40 companies under the Bajaj Group and is worth Rs 117,915.45 crore. It was started in 1926 by Jamnalal Bajaj in Mumbai.
| Do you know…? India home to richest aviation billionaires in world With a wealth of $4.3 billion and $4.2 billion respectively, Rakesh Gangwal and Rahul Bhatia and family of ‘Indigo’ airlines are the wealthiest aviation billionaires, according to Hurun Global Rich List 2022. The Interglove co-founders improved their rank by 231 positions over the last five years. No of Indian billionaires doubled every 5 years in last decade India now has 249 billionaires of which 215 of them live in the country. The number of Indian billionaires has doubled every five years for the last decade, the report stated. |
Who are youngest billionaires in India?
| Rank | Name | Net Worth | Age | Origin of Wealth |
|---|---|---|---|---|
| #54 | Byju Raveendran and Divya Gokulnath | $3.6 B | 42 | edtech |
| #50 | Ravi Modi | $3.75 B | 45 | readymade garments |
| #63 | Acharya Balkrishna | $3.3 B | 50 | consumer goods |
| #65 | Vikas Oberoi | $3.22 B | 52 | real estate |
| #9 | Kumar Birla | $15 B | 55 | commodities |
| #48 | Sridhar Vembu & Siblings | $3.8 B | 55 | business software |
| #99 | Jitendra Virwani | $1.95 B | 56 | real estate |
| #77 | Kalanithi Maran | $2.65 B | 57 | media |
| #13 | Shapoor Mistry | $14.2 B | 58 | diversified |
| #30 | Rekha Jhunjhunwala | $5.9 B | 59 | investments |
Who are oldest billionaires in India?
| Name | Net Worth | Age | Origin of Wealth | |
|---|---|---|---|---|
| #82 | Lachhman Das Mittal | $2.31 B | 92 | tractors |
| #29 | Benu Gopal Bangur | $6 B | 91 | cement |
| #19 | Kushal Pal Singh | $8.8 B | 91 | real estate |
| #86 | Prathap Reddy | $2.26 B | 90 | healthcare |
| #28 | Hasmukh Chudgar | $6.2 B | 89 | pharmaceuticals |
| #33 | Vijay Chauhan | $5.5 B | 87 | biscuits |
| #47 | Yusuf Hamied | $3.9 B | 86 | pharmaceuticals |
| #53 | Arun Bharat Ram | $3.61 B | 82 | chemicals |
| #46 | Chandru Raheja | $4 B | 82 | real estate |
| #24 | Mahendra Choksi | $6.5 B | 81 | paints |
Top female Indian billionares
| Rank | Name | Net Worth | Age | Origin of Wealth |
|---|---|---|---|---|
| #6 | Savitri Jindal | $16.4 B | 72 | steel |
| #30 | Rekha Jhunjhunwala | $5.9 B | 59 | investments |
| #44 | Falguni Nayar | $4.08 B | 59 | retailing |
| #51 | Leena Tewari | $3.74 B | 65 | pharmaceuticals |
| #76 | Kiran Mazumdar-Shaw | $2.7 B | 69 | biopharmaceuticals |
| #88 | Anu Aga | $2.23 B | 80 | engineering |
Which city in India has the most billionaires?
Top 3 cities in India with highest number of billionairesMumbai – 72 billionaires Delhi – 51 billionaires Bengaluru – 28 billionaires |
Mumbai is home to the highest number of billionaires in the country with 72 billionaires living in the city, according to Hurun Global Rich List 2022. The 2022 Hurun Global Rich List ranked 3,381 billionaires from 2,557 companies and 69 countries. Around 2,071 billionaires saw their wealth increase, of which 490 were new faces. Meanwhile, 942 billionaires saw their wealth decrease, and there were 129 drop-offs while 35 billionaires had died. Around 368 billionaires saw their wealth stay the same.
Delhi came second with 51 billionaires living in the city while Bengaluru came third with 28 billionaires, the Hurun Global Rich List 2022 revealed.
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