Mukesh Ambani reclaimed the ‘richest Indian’ title with a wealth of Rs 8.08 trillion. He surpassed Gautam Adani whose wealth dropped by 57% to Rs 4.74 trillion.
The 360 ONE Wealth Hurun India Rich List 2023 reports a 2% rise in Ambani’s wealth over the year, while Adani’s fortune drastically fell by 57% to Rs 4.74 trillion since the list’s previous release.
Key Takeaways
- Mukesh Ambani has reclaimed the ‘richest Indian’ title with a wealth of Rs 8.08 trillion.
- He surpassed Gautam Adani whose wealth dropped by 57% to Rs 4.74 trillion. Other notable billionaires include Cyrus S. Poonawalla, Shiv Nadar, Gopichand Hinduja, and Dilip Shanghvi. Only Gautam Adani and Radhakishan Damani saw a reduction in wealth.
- Mumbai has the highest number of billionaires. Total wealth on the list equals the GDP of Singapore, UAE, and Saudi Arabia. Kaivalya Vohra, founder of Zepto, is the youngest. The pharmaceutical industry has the most entrepreneurs.
In a remarkable turnaround, Mukesh Ambani has once again secured his position as India’s richest person, as per the 360 ONE Wealth Hurun India Rich List 2023. This comeback is despite Reliance Industries’ subdued performance in the stock market. Ambani’s total wealth is now estimated at a whopping Rs 8.08 trillion, marking a 2% increase as compared to the previous year.
Previously, this prestigious spot was held by industrialist Gautam Adani. However, his fortunes took a substantial hit this year, recording a decrease of 57%, bringing his total wealth to Rs 4.74 trillion. This decline represents the most significant annual wealth depletion ever recorded for an individual since the inception of the Hurun India Rich List.
Ambani and Adani are trailed by an impressive lineup of other wealth magnets. The marquee this year includes vaccine maker Cyrus S. Poonawalla, HCL Group’s Shiv Nadar, Hinduja Group’s Gopichand Hinduja, and Sun Pharmaceuticals’ Dilip Shanghvi, among others. Interestingly, out of the top 10, only Adani and Radhakishan Damani of Avenue Supermarts faced a downfall in their wealth.
Kaivalya Vohra, the young entrepreneur behind the e-commerce platform Zepto, continued his streak as the youngest individual on the list. Despite his tender years, he has amassed a respectable Rs 1,000 crore to his name.
The rich list also offers some fascinating insights. The cumulative wealth of all the individuals in the list stands at a stunning ?109 lakh crore. To put this into perspective, it is more than the combined GDP of Singapore, the United Arab Emirates, and Saudi Arabia.
Mumbai has emerged as the billionaire capital of India, housing a staggering 328 individuals from the list. Next in line are New Delhi and Bengaluru, with 199 and 100 billionaires respectively. Intriguingly, when broken down by industry, pharmaceuticals lead the tally, closely followed by the chemicals & petrochemicals and industrial products sectors.
In conclusion, the 360 ONE Wealth Hurun India Rich List illustrates the evolving landscape of wealth in India, revealing the ascendance of new individuals and sectors, while others experience significant shifts in fortune. All eyes will now be on how these dynamics change in the year ahead.
