Gautam Adani and his family topped the Hurun India Rich List 2024 with a staggering 95 per cent growth in the wealth charts, with a total wealth of Rs 11,618,000 crore. This huge leap highlights the resilience and aggressiveness with which the Adani family has grown amid the multiple challenges posed by diversified businesses in the last one year.
Ahmedabad-based self-made businessman Gautam Adani has shown exemplary resilience after the Hindenburg allegations shook the very foundations of Adani Group Last year, Hurun said in a press release that in the last five years, the Adani family’s wealth has soared by Rs 1,021.6 billion, making it the fastest-growing among India’s billionaires. Adani Group Shares of companies have gained significantly, Hurun added.
Among them is Adani Ports, for example, which registered a 98% increase driven by improved utilisation levels, along with new strategic additions of ports and container terminals. At the same time, Adani’s energy businesses – Adani Energy, Adani Gas, Adani Transmission and Adani Power – registered a consolidated increase of 76% in their respective share prices.
To further fuel this wave of activity, MSCI’s move to remove restrictions on Adani Group The August 2024 revision of the company’s values suggests the conglomerate is back on track, Hurun noted. The move has increased the potential for Adani Group shares such as Adani Enterprises, Adani Ports and Ambuja Cements, further strengthening the financial position of the Adani family. The Hurun 2024 report also attributed the estimated wealth of the family trust and foreign companies of the promoter group to Gautam Adani and his family, adding to their aggregate wealth portfolio.
Billionaire Mukesh Ambani, whose wealth has increased by 25 per cent in the last one year, came second on the list with a total of Rs 10,14,700 crore. The Reliance Industries chairman remains one of the biggest forces in the Indian business firmament, having seen his wealth rise by 150 per cent in five years. Reliance Industries’ strategic investments in the energy and retail sectors have ensured reasonably good appreciation in its share price, while positive developments in its telecom arm, Jio, have been helped by recent price hikes. Ambani laid out an aggressive 2030 vision for Reliance, including ambitious plans to generate 100 GW of renewable energy and enter the insurance business in a big way, a major diversified push into new businesses, Hurun said.
In third place is Shiv Nadar, 79, founder of HCL Technologies, whose fortune rose 37 per cent to Rs 314 billion. HCL has been a strong performer, securing $1.96 billion in new deals during the first quarter of FY25 and achieving 5.6 per cent year-on-year revenue growth. It has also posted a 20.4 per cent rise in net revenue, driven primarily by strategic forays into generative AI, attracting major contracts across industries. Over the past five years, his wealth has grown 220 per cent, making Nadar one of the biggest wealth creators in tech.
Cyrus S. Poonawalla, 83, chairman of Serum Institute of India, ranked number four, is worth Rs 2,89,800 crore. His wealth has grown 3.1 times since 2020 due to the global success of Serum Institute, the world’s largest vaccine manufacturer. Contributing substantially to Poonawalla’s jump up the rankings to join the ranks of one of India’s most impactful entrepreneurs, Serum Institute enjoys a significant presence in nearly 170 countries across the world.
At number five is Sun Pharmaceutical Industries’ Dilip Shanghvi, who is 68 years old and has a fortune of Rs 249.9 billion. Under his strategic leadership, Sun Pharma has become the world’s fourth-largest specialty generics pharma company. His wealth has increased 52 per cent over last year, driven by Sun Pharma’s strong recovery and highest-ever revenue in fiscal 2023.
At 57, Kumar Mangalam Birla of the Aditya Birla Group is ranked sixth with Rs 235.2 billion, up 87 per cent from last year. He has led the international expansion of the group, which now has a consolidated turnover of $65 billion. His wealth has increased almost sevenfold in the last five years as he has emerged as the most strategic person to lead the group in different markets.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.