Hurun India Rich List 2023: Mukesh Ambani on Top Surpassing Gautam Adani
360 ONE Wealth Hurun India Rich List 2023 reveals a 2% increase in Ambani's wealth, Adani's substantial decline, and significant growth in India's billionaire count and collective net worth.
Hurun India Rich List 2023: Mukesh Ambani reclaims top spot, Gautam Adani 2nd on the list
According to the Tuesday-released 360 ONE Wealth Hurun India Rich List 2023, Ambani, 66, experienced a tiny 2% increase in wealth to Rs 8.08 lakh crore, while Adani’s fortune fell by 57% to Rs 4.74 lakh crore.
The fall in Adani’s wealth was attributed to the Hindenburg report, which was released in January, according to Anas Rahman Junaid, managing director and principal researcher at Hurun. In January, a damaging report on the Adani Group was released by a US-based short seller who claimed that a series of infractions had led to a sharp decrease in the value of the group’s stocks and, as a result, to the promoter family’s wealth being eroded. Adani, meanwhile, has denied every charge.
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Shiv Nadar of HCL Technologies is the fourth-richest person, while Cyrus Poonawalla of vaccine manufacturer Serum Institute of India, situated in Pune, has maintained his third-place ranking with a wealth growth of 36% to Rs 2.78 lakh crore. The list utilizes August 30 as its base date and includes a total of 1,319 people from 138 cities. Most of the people in the top 10 improved their positions, including Gopichand Hinduja, who is now rated fifth, Dilip Shanghvi, who is in sixth, LN Mittal, who is in seventh, Kumar Mangalam, who is ninth, and Niraj Bajaj, who is in tenth. However, Radhakishan Damani, the CEO of D-Mart, dropped three ranks to take the eighth spot in terms of richest Indians as his net worth decreased by 18% to Rs. 1.43 lakh crore.
Hurun India and 360 ONE Wealth jointly published the Hurun India Rich List 2023, which included the findings. The list, which features India’s richest people, has been published annually for the past 12 years.
The fact that 1,319 people, an increase of 219 people, including 278 new entrants, have a net worth of more than Rs 1,000 crore is one of this year’s list’s most notable findings. The collective wealth of this year’s 360 ONE Wealth Hurun India Rich listers has reached a record-breaking Rs 109 lakh crore, surpassing the GDPs of Singapore, the United Arab Emirates, and Saudi Arabia.
The research also emphasizes that, while the list’s total worth climbed by 8.5%, the average person’s wealth declined by 9.3%. Among those on the list, 1,054 people had their wealth increase or stay the same, including 278 new entrants, while 264 people saw their wealth decrease and 55 people were removed from the list.
Another finding in the study is that India now has 259 billionaires, an increase of 38 from the year before.
Industrial Products and Metals and mining have witnessed the biggest number of new additions to the list in terms of contributions by industrial category, with Pharma continuing to maintain the top slot with 133 new entrants.
The youngest person on the list is Kaivalya Vohra, the founder of Zepto (20), highlighting the significance of India’s startup revolution.
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