Despite the pandemic-caused slump, the number of Indian billionaires continues to rise.
According to the M3M Hurun Global Rich List for 2022, India added 51 billionaires in 2021, placing it third among countries with the most new wealthy business people. India now has over 250 billionaires, compared to 1,133 in China and 716 in the United States. According to the Hurun Global Rich List, the top ten Indian billionaires are as follows.
Mukesh Ambani
Mukesh Ambani, the CEO of Reliance Industries Ltd (RIL), is the only Indian on the list of the world’s top ten billionaires.
He is a billionaire Indian businessman who serves as the chairman, managing director, and largest shareholder of Reliance Industries Ltd. (RIL), a Fortune Global 500 company and India’s leading company by market value. Ambani’s net worth had been estimated to be around US$86.9 billion by February 2022, according to Forbes and Bloomberg Billionaires Index. As per The 2022 M3M Hurun Global Rich List, Ambani is the ninth richest person in the world, with a net worth of $103 billion.
Gautam Adani
Gautam Shantilal Adani is a billionaire industrialist and philanthropist from India. He is the chairman and founder of the Adani Group, a multinational conglomerate based in Ahmedabad that is engaged in port development and operations in India. Adani also serves as president of the Adani Foundation, which is chiefly led by his wife, Priti Adani.
As per the Hurun Rich List, he added $49 billion to his wealth last year, which is more than the net addition of wealth by the top three global billionaires, Elon Musk, Jeff Bezos, and Bernard Arnault.
Shiv Nadar and Family
Shiv Nadar and his family are ranked third on the list, with a net worth of $28 billion. Shiv Nadar is a billionaire industrialist and philanthropist from India. He is the founder and emeritus chairman of HCL Technologies Limited as well as the Shiv Nadar Foundation.
Nadar established HCL in the mid-1970s and over the next three decades transformed the IT hardware company into an IT enterprise by constantly evolving the company’s focus. Nadar was awarded the Padma Bhushan in 2008 for his contributions to the IT industry.
Cyrus S. Poonawalla
Cyrus Poonawalla came in fourth place with a fortune of $26 billion. Cyrus S. Poonawalla is an Indian billionaire businessman who is the chairman and managing director of the Cyrus Poonawalla Group, which includes the Serum Institute of India, the world’s largest vaccine manufacturer. With a net worth of $24.3 billion in 2022, he is ranked fourth on Forbes India’s rich list.
Lakshmi Mittal
Lakshmi Niwas Mittal, ranked fifth on the list with $25 billion, is a steel magnate from India who is based in the United Kingdom. He is the Executive Chairman of ArcelorMittal, the world’s largest steelmaker, as well as the Chairman of Aperam, a stainless steel manufacturer. Mittal owns 38% of ArcelorMittal and a 20% stake in Queens Park Rangers of the EFL Championship.
In 2005, Forbes listed Mittal as the world’s third richest person, making him the first Indian citizen to be ranked in the top ten on the publication’s annual list of the world’s richest people.
RK Damani and family – SP Hinduja and family
Following Lakshmi Mittal on the list were RK Damani and family and SP Hinduja and family, both of whom have a net worth of around $23 billion.
Radhakishan S. Damani is the founder of DMart and an Indian billionaire investor. Bright Star Investments Limited, his investment firm, also manages his portfolio. He left the stock market in 2000 to launch his own hypermarket chain, DMart, with the first store opening in Powai in 2002. In 2010, the chain had 25 locations; since then, the company has expanded rapidly and went public in 2017.
He now owns 234 DMart stores in India. Damani maintains a low profile and rarely gives interviews. He has taught Indian Billionaire Rakesh Jhunjhunwala his stock trading strategies.
Srichand Parmanand Hinduja is a British billionaire businessman, investor, and philanthropist of Indian origin. He is the principal shareholder and chairman of Hinduja Group of companies. He is the UK’s second richest man, along with his brother Gopichand, as of May 2020. Since the 1990s, he has consistently been ranked among the wealthiest people in the United Kingdom and Asia.
Kumar Manglam Birla and Family – Dilip Sanghvi and Family
They are followed by Kumar Mangalam Birla and family of Aditya Birla and Dilip Shanghvi and family of Dilip Shanghvi, both of whom have net worths of $18 billion.
Kumar Mangalam Birla is a billionaire Indian industrialist, philanthropist, and the chairman of the Aditya Birla Group, one of India’s largest global conglomerates. He also serves as chancellor of the Birla Institute of Technology and Science and the Indian Institute of Management Ahmedabad. Birla became chairman of the Aditya Birla Group at the age of 28 in 1995, following the death of his father, Aditya Vikram Birla. The group’s annual revenue has increased from US$3.33 billion in 1995 to US$48.3 billion in 2019.
Dilip Shanghvi is a billionaire businessman from India and one of the country’s wealthiest people. Sun Pharmaceuticals was founded by him. In 2016, the Indian government bestowed upon him the civilian honour of Padma Shri. India Today magazine ranked him eighth on its list of the country’s most powerful people in 2017.
Shanghvi was appointed to the Reserve Bank of India’s 21-member central board committee in January 2018. He is the chairman of IIT Bombay’s board of governors. In 2017, he was appointed as a trustee of the Rhodes Scholarship Programme at Oxford University.
Uday Kotak
Uday Kotak, MD of Kotak Mahindra Bank, is the tenth richest person in India, according to the press release.
Uday Suresh Kotak is an Indian billionaire banker who serves as Kotak Mahindra Bank’s executive vice chairman and managing director.
While India was still a closed economy with slowing economic growth, Kotak decided to strike out on his own, turning down a lucrative job offer from a multinational corporation. Over the next few years, he expanded his business into a variety of financial services, establishing a strong presence in bill discounting, stockbroking, investment banking, car financing, life insurance, and mutual funds. Kotak Mahindra Finance Ltd. became the first Indian company to receive a banking licence from the RBI on March 22, 2003.
