NEW DELHI: For the first time ever, India has over 1,000 individuals whose wealth exceeds Rs 1,000 crore mark. According to IIFL Wealth Hurun India Rich List 2021, 1,007 individuals, up 179 from last year, across 119 cities have Rs 1,000 crore. Their cumulative wealth has risen by 51%, while average wealth increased by 25%. Similarly, a number of billionaires, whose wealth exceeds $1billion, has gone up by 58 and India now has 237 billionaires.
Reliance Industries Ltd’s boss Mukesh Ambani continues to be the richest man in India for the 10th consecutive year with a wealth of Rs 7,18,000 crore. He is also the richest individual in Asia. Owing to the surge in the company’s stock price, RIL became the first Indian company to cross the $200bn (Rs 15 lakh cr) market capitalisation.
With Rs 5,05,900 crore, Gujarat-based tycoon Gautam Adani & family moved up two places to the second spot. He is also the second richest billionaire in Asia. Adani’s wealth has soared by 261% in the last one year with him making mind-boggling Rs 1,002 crore every day. The Adani group has a combined market capitalisation of Rs 9 lakh crore.
Shiv Nadar of HCL, retained the third rank. SP Hinduja & family moved down two positions to the fourth rank. LN Mittal & family moved up eight positions to the fifth rank with a wealth of Rs 1,74,400 cr.
There were four new faces in the India Top 10 this year, despite the cut-off being up by 60%. Five individuals still make the India Top 10 after ten years. The most surprising face in the top 10 list is of the San Jose-based Jay Chaudhry, who leads California-based enterprise cloud security firm ZSCALER. Chaudhary came 10th.
“IIFL Wealth Hurun India Rich Listers added Rs 2,020 cr each day for the past 10 years. At this rate, I expect India to add another 250 billionaires over the next five years and rival the USA in terms of number of billionaires within ten years,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.
RIL 57th most valuable firm
Owing to surge in stock price, RIL became the first Indian company to cross the $200bn (Rs 15 lakh cr) m-cap. Within four decades of operation, Reliance has become the 57th most valuable firm in the world, according to Hurun.
