Gautam Adani's net worth surged 95 per cent to Rs 11.6 lakh crore over the past year, recovering from a significant dip following a report by Hindenburg Research. This increase allowed Adani to overtake Mukesh Ambani as India's richest person, according to the 2024 Hurun India Rich List published on Thursday.
Ambani, Chairman and Managing Director of Reliance Industries, saw his net worth rise by 25 per cent to Rs 10.14 lakh crore. Last year, Adani's wealth had plummeted by 57 per cent to Rs 4.74 lakh crore, with Ambani leading the list with a fortune of Rs 8.08 lakh crore.
The decline in Adani's wealth was attributed to various allegations made by the US-based short seller Hindenburg Research, which the Adani conglomerate has denied.
In 2014, Hurun had estimated Adani's fortune at Rs 44,000 crore, positioning him as the tenth richest Indian at that time.
Shiv Nadar and his family, associated with HCL, moved up one position to become the third richest with a net worth of Rs 3.14 lakh crore. Meanwhile, Cyrus Poonawalla of the Serum Institute of India fell one spot to fourth with a net worth of Rs 2.89 lakh crore.
Dilip Shanghvi of Sun Pharmaceuticals rose to fifth place, up from sixth last year, with a net worth of Rs 2.50 lakh crore.
Radha Vembu of Zoho was recognised as the wealthiest self-made woman with a fortune of Rs 47,500 crore. Zepto co-founders Kaivalya Vohra and Aadit Palicha, both in their early 20s, were noted as the youngest on the list, with net worths of Rs 3,600 crore and Rs 4,300 crore, respectively.
The list, which tracks Indians with net worths exceeding Rs 1,000 crore, expanded by 220 individuals to a total of 1,539 for 2024. The cumulative wealth of these individuals increased by 46 per cent over the year.
SRK debuts on Hurun India Rich List 2024
Actor Shah Rukh Khan made his debut on the list with an estimated fortune of Rs 7,300 crore, surpassing business partner Juhi Chawla.Juhi Chawla and family rank second with Rs 4,600 crore, primarily due to their involvement in Knight Riders Sports.
Hrithik Roshan, with his fitness brand HRX, stands at Rs 2,000 crore, while Amitabh Bachchan and his family, known for their strategic investments, have a net worth of Rs 1,600 crore. Karan Johar, with Dharma Productions, rounds out the top five with Rs 1,400 crore.
Additionally, 16 professionals featured on the list, with Arista Networks CEO Jayshree Ullal being the wealthiest at Rs 32,100 crore, followed by D-mart CEO Ignatius Navil Noronha with Rs 6,900 crore.
Kumar Pritamdas Gera of Gera Developments experienced the fastest wealth growth at 566 per cent, while Ambani and Adani recorded the largest increases in quantum, according to the report.
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