1 / 11In a dramatic reshuffle in India’s billionaire club, RIL chairman Mukesh Ambani has reclaimed his throne as the richest person, surpassing Gautam Adani, whose wealth took a hit due to the Hindenburg controversy. Despite a sluggish stock market, Ambani’s wealth has surged four-fold in less than a decade. The list also witnessed steady growth from Shiv Nadar of HCL and Gopichand Hinduja & family, while Radhakishan Damani experienced a dip. Here is a list of India’s top 10 richest people, according to the latest report by Hurun India: (Image: Shutterstock)
2 / 11Ambani’s Comeback: Despite a dull stock market performance, Mukesh Ambani (66) has regained his position as India’s richest person. He surpassed Gautam Adani, whose wealth took a hit due to the Hindenburg effect. Over the past decade, Reliance Industries has invested over US$150 billion, more than any other Indian corporation. Ambani’s wealth has grown fourfold from Rs 165,100 crore in 2014 to nearly Rs 808,700 crore.
3 / 11Adani’s Decline: Following the Hindenburg report, Gautam Adani (61), Chairman of the Adani Group, slipped to second place. His wealth decreased by a staggering Rs 6,19,000 crore within a year. Despite this setback, Adani Group companies showed strong growth. Their total income and post-tax profit increased by 85% and 82% respectively in FY22-23.
4 / 11Poonawalla’s Persistence: Cyrus S Poonawalla (82), founder of Serum Institute of India, climbed three ranks due to a 36% increase in his wealth over the past year. His company is the world’s largest vaccine manufacturer. The malaria vaccine developed by the University of Oxford and Serum Institute received WHO approval for widespread use.
5 / 11Nadar’s Consistency: Shiv Nadar (78) of HCL retained fourth place as his wealth increased by 23% to Rs 2,28,900 crore. Over the past decade, his wealth has grown by 194%. In FY23, HCL Technologies surpassed the Rs 1 lakh crore revenue mark for the first time. (Image: Reuters)
6 / 11Hinduja’s Ascent: Gopichand Hinduja & family (83) moved up two positions to fifth rank after their wealth increased by 7% to Rs 1,76,500 crore. The family patriarch and eldest Hinduja brother, Srichand Parmanand Hinduja, passed away in London in May 2023 at age 87. (Image: Reuters)
7 / 11Shanghvi’s Progress: Dilip Shanghvi (68), founder of Sun Pharmaceutical Industries, advanced three positions to sixth rank. His wealth surged by 23% to Rs 1,64,300 crore. Over the past five years, his wealth has increased by 83%. Sun Pharmaceutical Industries’ revenue grew from Rs 26,066 crore in FY18 to Rs 43,279 crore in FY23. (Image: Wikimedia Commons)
8 / 11Mittal’s Rise: LN Mittal & family (73) moved up to seventh place, with their wealth growing by 7% to Rs 1,62,300 crore. ArcelorMittal, led by LN Mittal, is now the world’s largest steelmaker outside China. It earned US$79.8 billion in 2022. The London-based company’s wealth has grown by 42% over the past five years. (Image: Reuters)
9 / 11Damani’s Dip: Radhakishan Damani (68), of Avenue Supermarts, fell three places to eighth. His wealth decreased by 18% to Rs 1,43,900 crore. Despite this, Damani’s wealth has grown by 211% or Rs 97,600 crore in the last five years.
10 / 11Birla’s Boost: Kumar Mangalam Birla & family (56), of Aditya Birla Group, rose two places to ninth. Their wealth grew by 5% to Rs 1,25,600 crore. Over the past five years, Birla’s wealth has increased by 171% or Rs 79,300 crore.
11 / 11Bajaj’s Breakthrough: Niraj Bajaj & family of Bajaj Group secured the tenth spot. Their wealth grew by 7% to Rs 1,20,700 crore. The Bajaj Group is the third-largest family business house in India.
