The total number of billionaires reached to 334 individuals and the cumulative wealth of these individuals is Rs 159 lakh crore — more than half of India’s GDP
Our Bureau
Mumbai
The Hurun India Rich List 2024, released on Tuesday, revealed shifts in the wealth landscape, with Indian tycoons Gautam Adani and Mukesh Ambani making headlines for their remarkable gains. Adani has replaced Ambani for the top slot in this year’s list.
Adani Group’s founder Gautam Adani has topped the list for this year, leaving behind Mukesh Ambani, the Chairman and Managing Director of Reliance Industries Limited (RIL). With a total wealth of about Rs 11.6 lakh crore, Adani secured the first position. The wealth of Adani and his family grew by 95 per cent.
According to the list, the total wealth of Ambani and his family stood at Rs 10.1 lakh crore. While the Shiv Nadar family captured the third spot in the Hurun India Rich List 2024.
The vaccine maker Cyrus S Poonawalla and the family of Serum Institute of India hold 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 and family, followed by Mukesh Ambani and family, Shiv Nadar, Cyrus S Poonawalla and family, Gopichand Hinduja and family, and Radhakishan Damani and family.
The total number of billionaires reached to 334 individuals and the cumulative wealth of these individuals is Rs 159 lakh crore, more than the combined GDP of Saudi Arabia and Switzerland and more than half of India’s GDP, as per the report.
“India continues to score Gold in the ‘Wealth Creation Olympics’. The number of billionaires in 2024 Hurun India Rich List hits a triple century, with all the top 20 sectors adding new faces to the list! The top 20 sectors all added new faces, showcasing the unstoppable spirit of Indian entrepreneurs as they drive growth across the board,” Anas Rahman Junaid, Founder and Chief Researcher, at Hurun India, said.
“India is emerging as Asia’s wealth creation engine! While China saw a 25 per cent decline in its number of billionaires, India experienced a 29 per cent increase, reaching a record 334 billionaires.
For the first time, the Hurun India Rich List features 1,539 entrants, showcasing a diverse range of wealth creators–from family-run businesses and startup founders to private equity investors, angel investors, next-generation leaders, film stars, and more. The stories within the Hurun
India Rich List not only reflects the dynamics of India’s modern economy but offers a glimpse into its future trajectory. The future is nothing short of exciting,” Junaid said.
Interestingly the founders of startups have also secured a place in the list. A total of 55 technology startup founders, with a cumulative wealth of Rs 2,87,100 crore and an average age of 40, featured in the Hurun Rich India list.
The youngest on the list is 21-year-old Kaivalya Vohra of USD 5 billion quick commerce startup Zepto. The co-founder of the Zepto is the second youngest on the list.
A total of 52 founders of 29 unicorns have been named in this year’s list.
Many sectors to benefit from AI: Mukesh Ambani
Reliance Industries Chairman Mukesh Ambani has said that the birth of AI is perhaps the most transformative event in the evolution of the human race and has opened opportunities to address several complex problems facing mankind.
In his speech at the company’s 47th AGM on Thursday, Ambani said he believes the true power of AI lies in making it accessible to everyone, everywhere.
“With Jio’s AI Everywhere For Everyone vision, we are committed to democratising AI, offering powerful AI models and services to everyone in India at the most affordable prices,” he said.
“To achieve this, we are laying the groundwork for a truly national AI infrastructure. We plan to establish gigawattscale AI-ready data centres in Jamnagar, powered entirely by Reliance’s green energy, reflecting our commitment to sustainability and a greener future,” he added.
He also announced Jio Brain which will have a comprehensive suite of tools and platforms by leveraging AI and this will accelerate the AI adoption to various services of Jio.
The company is working on making Jio Brain help other operating companies fast-track their AI journey and also offer it to other companies. “I anticipate that by perfecting Jio Brain within Reliance, we will create a powerful AI service platform that we can offer to other enterprises as well,” Ambani said.
