Zepto’s Kaivalya Vohra and Aadit Palicha top the list of youngest richest entrepreneurs – India TV

List of India’s richest people in 2024:The Hurun India Rich List 2024 showcases the remarkable achievements of India’s young entrepreneurs, who are driving innovation and revolutionising various industries. The count of India’s dollar billionaires has reached 334, up 29 per cent year-on-year, according to the Hurun India Richlist released today (August 29), with a new billionaire being added every five days last year.

Kaivalya Vohra, 21, and Aadit Palicha, 22, of fast-commerce startup Zepto, with a net worth of Rs 3,600 crore and Rs 4,300 crore respectively, topped the Hurun India Rich List 2024, which showcases India’s youngest entrepreneurs.

The list had SG Finserve’s Rohan Gupta and his family, 25, at the third spot with a wealth of Rs 1,300 crore, followed by BharatPe’s Shasvat Nakrani, 26 (Rs 1,300 crore).

Ritesh Agarwal, 30, of OYO, with a net worth of Rs 1,900 crore; Alakh Pandey, 32, of Physics Wallah, with a wealth of Rs 4,500 crore, were also on the list. Harshil Mathur and Shashank Kumar of Razorpay, both 33, were the richest on the ‘Hurun India Rich List – The Youngest’, each with a net worth of Rs 8,700 crore.

According to the report, these individuals are driving change across various industries, reflecting the growing impact of India’s youth on business.

Number of billionaires in India reaches 334

Meanwhile, this year’s list reported that India’s billionaire tally reached 334, led by Gautam Adani and his family with a 95 per cent growth in wealth to Rs 11.6 lakh crore, followed by Mukesh Ambani and his family’s net worth of Rs 10.14 lakh crore, Shiv Nadar and his family’s Rs 3.14 lakh crore, Cyrus S Poonawalla and his family’s Rs 2.89 lakh crore, and Sun Pharmaceutical Industries’ Dilip Sanghvi’s Rs 2.49 lakh crore.

What did the founder of Hurun India say on the list?

“India is emerging as Asia’s wealth creation engine. While China saw a 25% decline in its number of billionaires, India saw a 29% increase, reaching a record 334 billionaires,” said Anas Rahman Junaid, Founder and Chief Research Officer, Hurun India.

The list found 1,539 individuals across 134 cities with a net worth of Rs 1,000 crore. The cumulative wealth of the individuals, according to the list, increased by 46 per cent. Also, 1,334 individuals saw their wealth increase or remain the same, of which 272 are new entrants, while 205 recorded a drop in their wealth.

According to the report, India created a new billionaire every five days last year. By sector, industrial products had 142 people on the list, while pharmaceuticals had 136. Chemicals, software and real estate were other notable sectors with 127, 105 and 91 rich people on this year’s list.

“The paradigm shift of the Indian economy from a services-based to a manufacturing-based model is reflected in the Hurun India Rich List 2024. The industrial products sector entrepreneurs on the list have seen a remarkable compound annual growth rate (CAGR) of 47 per cent in their accumulated wealth over the past five years, the highest among all sectors,” Junaid said.

This shift, he said, is driven by several key factors, including the significant increase in central government capital expenditure on infrastructure development, which has risen to $133.3 billion for fiscal year 2024-25, marking a jump of 11.1 per cent from the previous year.

“In addition, India attracted significant foreign direct investment (FDI), with total inflows reaching $17.96 billion in fiscal year 2023-24.”

This year, the richest people on the list were Mumbai with 386 people, followed by New Delhi with 217. Bengaluru (100), Chennai (82) and Kolkata (69) were other richest cities.

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