MUMBAI: The combined wealth of 284 Indian billionaires is equivalent to a third of the country’s GDP, or roughly the economic output of 50 crore people, according to the Hurun Global Rich List released on Thursday.
Gautam Adani, chairman of the Ahmedabad-headquartered Adani Group, emerged as the biggest wealth gainer globally, adding Rs1 lakh crore to his fortune, which now stands at Rs8.4 lakh crore. This marks a strong recovery after the Hindenburg report had triggered a sharp decline in his wealth last year.
Meanwhile, Reliance Industries chairman Mukesh Ambani saw his wealth decline by 13 per cent to Rs8.6 lakh crore. Despite this drop, his $100 billion fortune helped him reclaim the title of Asia’s richest person.
10% growth
India is home to 284 billionaires whose collective net worth surged 10 per cent to Rs98 lakh crore, roughly a third of the country’s GDP. The report also highlighted that India has surpassed China in average billionaire wealth, with each Indian billionaire holding an average of Rs34,514 crore compared with Rs29,027 crore in China.
Of the 284 billionaires, 175 saw their wealth increase over the past year, while 109 either lost wealth or saw no change.
Roshni Nadar became the richest Indian woman and the fifth-richest woman globally, with a net worth of Rs3.5 lakh crore, following a 47 per cent stake transfer in HCL by her father.
From a city perspective, Mumbai added 11 billionaires, taking its total to 90, but lost its title as Asia’s billionaire capital to Shanghai.
The healthcare sector produced the highest number of billionaires in India (53), followed by consumer goods (35) and industrial products (32). The average age of Indian billionaires is 68—two years higher than the global average.
Razorpay co-founders Shashank Kumar and Harshil Mathur, both 34, are the youngest Indian billionaires, with a fortune of Rs8,643 crore each.
