NEW DELHI: With a wealth of Rs 24,000 crore, Nithin Kamath, 40, and Nikhil Kamath, 34, the co-founder brothers of online trading platform Zerodha, have grabbed the top spot in the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2020. The duo saw their wealth increase by 58 per cent in the last year as their firm grew to become India’s largest stockbroker by number of clients.
Oyo’s Ritesh Agarwal, 26, meanwhile, saw his wealth decline by 40 per cent or Rs 3,000 crore as the hospitality industry took the brunt of the Covid-19 pandemic. With a wealth of Rs 4,500 crore, Agarwal still remains the youngest in the list. “The Covid-19 pandemic has taken a toll on the hospitality business, globally and temporarily applied breaks to Oyo’s growth story,” Hurun India said in a statement.
Divyank Turakhia, 38, ranks second with a wealth of Rs 14,000 crore. He became a billionaire in 2016, after Media.net, a company that he founded in 2010, was sold for $1 billion. He is currently on a break and searching for the next big opportunity.
Amod Malviya, 39, Sujeet Kumar, 40, and Vaibhav Gupta, 40, of B2B commerce company Udaan are placed in the third position. Their wealth increased by 274 per cent to Rs 13,100 crore. For the second consecutive year, each of them are the biggest wealth gainers on the list.
With a wealth of Rs 7,800 crore, Riju Ravindran, 39, of online education platform Byju’s secured the sixth spot. Co-founders of Flipkart Binny Bansal, 37, and Sachin Bansal, 39, with a wealth of Rs 7500 crore each share the seventh position.Since their exit from Flipkart, Binny has invested in several start-ups while Sachin has co-founded, and is CEO of, Navi, a neo-bank start-up based in Bengaluru.
“Some of them have fully or partly exited their core businesses and are setting up investment funds and backing other young entrepreneurs. This will have a compounding effect on the growth of disruptive entrepreneurship in India,” said Anas Rahman Junaid, MD, Hurun India.