Blitz BUREAU
NEW DELHI: The 2024 Hurun India Rich List has shattered records, showcasing a staggering surge in wealth among India’s elite. For the first time, the list surpasses the 1,500 mark, featuring a remarkable 1,539 individuals with a net worth of over Rs 1,000 crore each.
, Gautam Adani and family have topped the 2024 Hurun India Rich List, as they saw a 95% increase in wealth, bringing their total to Rs 1,161,800 Cr. Mukesh Ambani has taken the second top spot in the 2024 Hurun India Rich List, with a wealth of Rs 1,014,700 crore. Shiv Nadar & family of HCL Technologies is in third place this year with a wealth of Rs 314,000 crore.
Vaccine maker Cyrus S Poonawalla & family of Serum Institute of India holds the fourth position in the list followed by Dilip Shanghvi of Sun Pharmaceutical Industries.
Over the past five years, six individuals have consistently remained in the India Top 10. Leading the list is Gautam Adani ; family, followed by Mukesh Ambani & family, Shiv Nadar, Cyrus S. Poonawalla & family, Gopichand Hinduja & family, and Radhakishan Damani & family.
As a self-made entrepreneur, Adani has recorded the highest wealth growth within the top 10 over the past five years, adding Rs 1,021,600 Cr, despite the challenges following the report. All Adani Group companies saw a significant surge in share prices over the past year. For example, Adani Ports experienced a 98% increase, driven by improved utilization levels and the proposed acquisition of new ports and container terminals. Meanwhile, the energy-focused companies—Adani Energy, Adani Gas, Adani Transmission, and Adani Power—averaged a 76% growth in share price.
“MSCI’s decision to lift restrictions on Adani Group securities in its August 2024 review indicates a return to normal operations, reflecting a stabilizing outlook for key stocks like Adani Enterprises, Adani Ports, and Ambuja Cements. This year, Hurun has attributed the wealth of the family trust and international companies within the promoter group to Gautam Adani and his family,” noted the report.
Cumulative wealth has increased by 46%, while average wealth has increased by 25%. 1,334 individuals saw their wealth increase or stay the same, of which 272 are new faces, whilst 205 saw their wealth drop and there were 45 dropouts, revealed the report.
India has 334 billionaires, up 75 compared to last year. While Real Estate, Industrial Products added the most significant number of new entrants to the list, Industrial Products is still at number one and has contributed 142 entrants to the list. The youngest on the list is aged 21.
