India, in the midst of an economic surge, has witnessed a notable rise in the number of billionaires. A record-breaking 169 Indians feature on Forbes’ 2023 World’s Billionaires list, a testament to the nation’s economic dynamism. Notably, the top echelons are dominated by influential figures like Mukesh Ambani, Gautam Adani, and Uday Kotak. In this report, we present the definitive list of the top 11 richest individuals in India for 2024, based on Forbes’ Real-Time Billionaires rankings.
1. Mukesh Ambani
Age: 66 Years
Net Worth: $89.7 Billion
Source of Wealth: Reliance Industries Ltd
Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, stands as India’s wealthiest individual. Forbes reports that Reliance Industries boasts a staggering revenue of over Rs 8 lakh crore ($104 billion). The conglomerate, with diverse interests spanning petrochemicals, oil and gas, retail, and telecom, is a cornerstone of India’s economic landscape. Mukesh Ambani’s three children actively contribute to managing different divisions of the conglomerate.
2. Gautam Adani
Age: 61 Years
Net Worth: $51.7 Billion
Source of Wealth: Adani Group
Gautam Shantilal Adani, a prominent industrialist, and founder-chairman of the Adani Group, secures the second spot among India’s wealthiest. His conglomerate, with interests in port operations, airports, power generation, and green energy, positions him as India’s largest airport operator. Despite recent challenges, including accusations of financial fraud and market manipulation, Adani’s influence remains significant.
3. Shiv Nadar
Age: 78 Years
Net Worth: $29.1 Billion
Source of Wealth: HCL Enterprise
Shiv Nadar, the proprietor of the HCL group, commands the third position. HCL, catering to renowned clients like Cisco, Microsoft, and Boeing, solidifies Nadar’s standing in the IT industry. Beyond business, Nadar is recognized for his philanthropy, with a substantial donation of Rs 1,161 crore in late 2022.
4. Savitri Jindal & family
Age: 73 Years
Net Worth: $25.3 Billion
Source of Wealth: O.P. Jindal Group
Savitri Jindal, an entrepreneur and politician, holds the fourth spot. As the emeritus chair of the O.P. Jindal Group, her four sons oversee various divisions. The JSW Sports division actively contributes to developing a vibrant sports ecosystem in India. Savitri Jindal is notably the richest woman in India.
5. Cyrus Poonawalla
Age: 82 Years
Net Worth: $21.2 Billion
Source of Wealth: Serum Institute of India
Cyrus Poonawalla, a key figure in vaccine development, ranks fifth. As the primary beneficiary of the Serum Institute of India, the world’s largest vaccine manufacturer, Poonawalla’s wealth has surged, especially with the widespread utilization of Covid-19 vaccines developed by the institute.
6. Dilip Shanghvi
Age: 67 Years
Net Worth: $19.5 Billion
Source of Wealth: Sun Pharmaceuticals
Dilip Shanghvi, a prominent business tycoon, and visionary behind Sun Pharmaceuticals, secures the sixth position. Sun Pharma, with a $5 billion valuation, achieved through strategic acquisitions, underlines Shanghvi’s influence in the pharmaceutical sector.
7. Kumar Birla
Age: 56 Years
Net Worth: $17.8 Billion
Source of Wealth: Hindalco Industries
Kumar Birla, a key figure in commodities, heads the Aditya Birla Group, involved in aluminum, cement, and financial services. His recent focus on family involvement in business brings a fresh perspective to the conglomerate.
8. Kushal Pal Singh
Age: 92
Net Worth: $13.7 Billion
Source of Wealth: DLF Limited
Property baron Kushal Pal Singh claims the eighth spot as the chairman emeritus of DLF, India’s largest real estate firm. Singh, an army veteran, has played a pivotal role in the company’s growth since 1961.
9. Lakshmi Mittal
Age: 73 Years
Net Worth: $15.2 Billion
Source of Wealth: ArcelorMittal
Lakshmi Mittal, Chairman and CEO of ArcelorMittal, the world’s largest steel manufacturer, takes the ninth position. His strategic acquisitions, including Essar Steel, showcase Mittal’s global influence in the steel industry.
10. Radhakishan Shivkishan Damani
Age: 68 Years
Net Worth: $16.6 Billion
Source of Wealth: Avenue Supermarts Limited
Radhakishan Shivkishan Damani, a notable entrepreneur and investor, rounds up the top 10 as the founder of Avenue Supermarts Limited. With over 200 DMart stores in India, Damani’s influence extends to the retail sector.
11. Uday Kotak
Age: 64 Years
Net Worth: $13.2 Billion
Source of Wealth: Kotak Mahindra Bank
Uday Kotak, Founder and Managing Director of Kotak Mahindra Group, secures the eleventh position. A key player in the banking sector, Kotak’s strategic decisions, including stake dilution, reflect his commitment to regulatory compliance and succession planning.
Conclusion
The list of India’s wealthiest individuals for 2024 showcases the diverse sectors contributing to the nation’s economic prosperity. From industry moguls like Mukesh Ambani to visionaries like Shiv Nadar, each individual on this list plays a pivotal role in shaping India’s economic landscape. As India continues its trajectory of growth, the influence of these economic titans remains central to the nation’s success.
