India has solidified its position as a hub for billionaires, with the country ranking third globally in terms of the number of billionaires. According to the latest report by Forbes, India is home to 185 billionaires in 2024, reflecting a 21% increase from the previous year.
The combined wealth of India’s billionaires has also surged 42% to $905.6 billion, driven by the country’s rapidly growing economy and a surge in tech and startup investments. The report highlights the growing influence of Indian billionaires on the global stage, with many of them making significant investments in emerging technologies, sustainability, and social impact initiatives.
Mukesh Ambani, chairman of Reliance Industries, remains India’s richest person, with a net worth of $93.5 billion. He is followed by Gautam Adani, chairman of the Adani Group, who has seen his net worth surge to $83.3 billion, driven by the rapid expansion of his business empire.
Other notable Indian billionaires include Shiv Nadar, founder of HCL Technologies, who has a net worth of $27.6 billion, and Cyrus Poonawalla, chairman of the Serum Institute of India, who has a net worth of $24.3 billion.
The report also highlights the growing number of self-made billionaires in India, with many entrepreneurs making their fortunes in the tech and startup space. Some notable examples include Byju Raveendran, founder of BYJU’S, who has a net worth of $22.5 billion, and Vijay Shekhar Sharma, founder of Paytm, who has a net worth of $20.5 billion.
India’s billionaire boom is driven by the country’s rapidly growing economy, which is expected to become the third-largest in the world by 2030. The country’s tech and startup ecosystem is also thriving, with many entrepreneurs making their fortunes in the space.
However, the report also highlights the growing wealth inequality in India, with the country’s billionaire class holding a significant proportion of the country’s wealth. This has raised concerns about the impact of wealth concentration on the country’s economy and society.
Overall, the report provides a fascinating insight into the lives and fortunes of India’s billionaire class, highlighting their growing influence on the global stage and their contributions to the country’s economic growth and development.
Top 10 Indian Billionaires in 2024
- Mukesh Ambani – $93.5 billion
- Gautam Adani – $83.3 billion
- Shiv Nadar – $27.6 billion
- Cyrus Poonawalla – $24.3 billion
- Byju Raveendran – $22.5 billion
- Vijay Shekhar Sharma – $20.5 billion
- Kumar Birla – $19.5 billion
- Uday Kotak – $18.5 billion
- Azim Premji – $17.5 billion
- Dilip Shanghvi – $16.5 billion