Gautam Adani, founder and chairman of Indian conglomerate Adani Group, along with his family, has replaced Mukesh Ambani as the richest Indian in the 2024 Hurun India Rich List, with an estimated combined wealth of $138.27 billion.
For the first time, Indian movie star Shah Rukh Khan also made it to Hurun India Rich List, largely due to the rising value of his holdings in the IPL cricket team, Kolkata Knight Riders.
The report said India minted a new billionaire every 5 days last year. Wealth calculations are a snapshot as of July 31, 2024.
“India is emerging as Asia’s wealth creation engine. While China saw a 25 percent decline in its number of billionaires, India experienced a 29 percent increase, reaching a record 334 billionaires,”, The Economic Times quoted Anas Rahman Junaid, Founder and Chief Researcher, Hurun India, as saying.
Mukesh Ambani has taken the second top spot in the 2024 Hurun India Rich List, with a wealth of $120.86 billion, followed by Shiv Nadar & family of HCL Technologies in third place this year with a wealth of $47.42 billion.
This is a comeback for Adani, who reigned as the richest Indian for some years till the US-based short seller Hindenburg Research’s allegations of financial fraud and stock market manipulation by the group hit his group companies hard last year, leading to a plunge in his wealth.
Vaccine maker Cyrus S Poonawalla & family of Serum Institute of India holds the fourth position.
The youngest on the 2024 Hurun India Rich List is 21-year-old Kaivalya Vohra of Zepto, a $5 billion Indian quick commerce startup.
His co-founder Aadit Palicha, 22, is the second youngest on the list.
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