Gautam Adani has claimed the top position on the 2024 Hurun India Rich List, surpassing Mukesh Ambani with a staggering wealth of Rs 11.6 lakh crore. Adani, 62, has overtaken Ambani, who now holds the second spot with a fortune of Rs 10.14 lakh crore, marking a significant shift in the Indian business hierarchy.
The list highlights the dominance of Adani in India’s business landscape, while Ambani, long considered the wealthiest man in the country, steps down to second place. Other notable billionaires include Shiv Nadar of HCL Technologies, in third place with Rs 3.14 lakh crore, and Cyrus S. Poonawalla of Serum Institute of India, who ranks fourth.
The report also reveals that India is producing a new billionaire every five days, with a total of 1,539 individuals now possessing wealth of Rs 1,000 crore or more—an increase of 220 from the previous year. The cumulative wealth on the list has surged by 46%, with average wealth rising by 25%.
Among the listed individuals, 1,334 saw their wealth increase or remain stable, with 272 new entrants. However, 205 experienced a decline, and 45 dropped out entirely. India now boasts 334 billionaires, up by 75 from last year.
The Real Estate and Industrial Products sectors contributed the most new entrants, with Industrial Products leading with 142 individuals. The youngest person on the list is just 21 years old, reflecting the youthful dynamism in India’s wealth creation.
Anas Rahman Junaid, Founder and Chief Researcher of Hurun India, remarked that India continues to excel in wealth creation, with all top 20 sectors adding new faces to the list. Wealth calculations for the 2024 Hurun India Rich List are based on a snapshot as of July 31, 2024.
