India's Wealthiest Individuals

India’s Wealthiest Individuals: India’s wealth landscape has witnessed significant transformations as billionaires continue to rise and expand their riches. In this edition of Trendlyne’s “Chart of the Week,” we delve into the fascinating insights surrounding the country’s top 14 wealthiest individuals. Exploring their industries, holdings, and strategies for amassing immense wealth, we uncover the captivating stories of India’s financial titans.

Mukesh Ambani: The Reigning Champion

Claiming the throne as India’s wealthiest individual is Mukesh Ambani, the Chairman of Reliance Industries. With a staggering net worth of approximately ₹7.5 lakh crore ($90.6 billion) as of July 4, 2023, Ambani’s success story began eight years ago. In 2014, Reliance Retail emerged as India’s leading revenue-generating retailer, catapulting Ambani’s net worth to $21.1 billion. The subsequent launch of Jio in 2016 and the introduction of Jio Phone in 2017 propelled his wealth even further, reaching a remarkable $40.2 billion—a surge of 77.1%. Despite a temporary setback due to the COVID-19 pandemic, Ambani’s fortunes rebounded with strategic investments from Google. Additionally, the introduction of Jio Mart and Jio 5G contributed to his net worth soaring to $76.9 billion by the end of the year.

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Gautam Adani: The Fierce Competitor

Gautam Adani, the Founder and Chairman of the Adani Group, emerges as Ambani’s most prominent rival in terms of wealth accumulation. With a net worth of approximately ₹5.1 lakh crore ($61.4 billion) as of July 4, 2023, Adani’s journey towards immense riches has been extraordinary. Since 2014, his net worth has grown twelvefold, fueled by noteworthy acquisitions such as Holcim India’s businesses and NDTV. In 2022, Adani surpassed Ambani, boasting an astonishing net worth of $121 billion. However, Hindenburg’s allegations of accounting fraud and stock manipulation in January 2023 dealt a severe blow to his fortunes, resulting in the largest one-day loss of net worth in billionaire history. Despite this setback, Adani stocks have made a remarkable recovery, with his net worth reaching $61.4 billion by June 2023—a 63% rebound.

Other Notable Tycoons

India’s roster of affluent individuals extends beyond Ambani and Adani. Shiv Nadar of HCL Technologies claims the title of India’s richest tech billionaire, with a net worth of $27.4 billion. Following closely is Azim Premji of Wipro, with a fortune of $24 billion. The list also includes prominent names such as Lakshmi Mittal ($19 billion) of ArcelorMittal, Radhakishan Damani of Avenue Supermarts (D-Mart), Dilip Shanghvi of Sun Pharmaceuticals, Cyrus Poonawalla ($24.4 billion) of Serum Institute, Savitri Jindal of Jindal Steel & Power, Uday Kotak of Kotak Mahindra Bank, Kumar Birla of Aditya Birla Group, and Sunil Mittal of Bharti Enterprises.

NameNet Worth
Mukesh Ambani₹7.5 lakh crore ($90.6 billion)
Gautam Adani₹5.1 lakh crore ($61.4 billion)
Shiv Nadar$27.4 billion
Azim Premji$24 billion
Cyrus Poonawalla$24.4 billion
Lakshmi Mittal$19 billion
Radhakishan DamaniN/A
Dilip ShanghviN/A
Savitri JindalN/A
Uday KotakN/A
Kumar BirlaN/A
Sunil MittalN/A

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