In a remarkable turnaround, Gautam Adani’s net worth surged by 95% to ₹11.6 lakh crore over the past year, according to the 2024 Hurun India Rich List. This impressive increase has propelled him ahead of Mukesh Ambani, who now holds the second spot with a net worth of ₹10.14 lakh crore.
Adani’s Wealth Rebounds After Challenging Year
The substantial rebound in Adani’s fortune comes after a challenging period marked by a 57% drop in his wealth to ₹4.74 lakh crore in 2023, a decline attributed to allegations from the US-based short-seller Hindenburg Research. Despite the controversy, Adani’s conglomerate has strongly denied these allegations.
Ambani’s Net Worth Sees Significant Growth
In contrast, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, saw a 25% increase in his net worth. His fortune stood at ₹8.08 lakh crore in the previous year’s report.
Shifts in India’s Wealth Landscape
The 2024 Hurun India Rich List highlights significant shifts in wealth among India’s elite. Shiv Nadar and his family, with a net worth of ₹3.14 lakh crore, rose to third place, overtaking Cyrus Poonawalla of Serum Institute of India, who now holds the fourth position with a net worth of ₹2.89 lakh crore.
Sun Pharmaceuticals’ Dilip Shanghvi and Emerging Wealth Trends
Sun Pharmaceuticals’ Dilip Shanghvi climbed to fifth place from sixth last year, with a net worth of ₹2.50 lakh crore. Among self-made women, Radha Vembu of Zoho emerged as the wealthiest, boasting a fortune of ₹47,500 crore. Zepto’s co-founders, Kaivalya Vohra and Aadit Palicha, both in their early 20s, made headlines as the youngest entrants on the list with net worths of ₹3,600 crore and ₹4,300 crore, respectively.
Expansion of the Rich List
The Hurun India Rich List for 2024 saw an expansion, with 220 new individuals added, bringing the total to 1,539. The cumulative wealth of these individuals increased by 46% over the past year. Notably, actor Shah Rukh Khan entered the list with an estimated fortune of ₹7,300 crore, surpassing business partner Juhi Chawla, who has a net worth of ₹4,600 crore.
Top Professionals and Rapid Wealth Growth
The list also includes 16 professionals, with Jayshree Ullal, CEO of Arista Networks, topping the list with a wealth of ₹32,100 crore, followed by Ignatius Navil Noronha, CEO of D-Mart, with ₹6,900 crore. Kumar Pritamdas Gera of Gera Developments experienced the fastest wealth growth at 566%, while Ambani and Adani achieved the largest growth in absolute terms.
Dynamic Wealth Landscape
This year’s list underscores the dynamic nature of India’s wealth landscape, reflecting both the recovery from past challenges and the ongoing evolution of the country’s economic elite.
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