New Delhi: Mukesh Ambani was for the seventh consecutive year declared the richest man in India by the Barclays Hurun India Rich List. The list, released on Tuesday, features 831 Indians, whose cumulative wealth stood at $719 billion, approximately a quarter of India’s GDP.
The Reliance Industries chairman’s total net worth was calculated to be Rs 371,000 crore. S.P. Hinduja and family (Hinduja enterprises) with an estimated net worth of Rs 159,000 crore was the second richest. Lakshmi Mittal and family (Arcelor Mittal, Rs 114,500 crore), Azim Premji (Wipro, Rs 96,100 crore), Dilip Shanghvi (Sun Pharmaceutical Industries, Rs 89,700 crore), Uday Kotak (Kotak Mahindra Bank, Rs 78,600 crore), Cyrus S. Poonawalla (Serum Institute of India, Rs 73,000 crore), Gautam Adani and family (Adani Enterprises, Rs 71,200 crore), Cyrus Pallonji Mistry and Shapoor Pallonji Mistry (Shapoorji Pallonji, Rs 69,400 crore each) completed the top ten richest people.
Interestingly, Patanjali Ayurved owner Acharya Balakrishna was placed just outside the top ten, with an estimated wealth of Rs 57,000 crore. Anil Ambani was 44th, with an estimated net worth of Rs 19,500 crore.
Yoga guru Baba Ramdev (R) and Managing Director of Patanjali Ayurved Acharya Balkrishna. Credit: Reuters/Amit Dave
Individuals with a net worth of Rs 9,000 crore and more were the 100 richest people in the country. The list estimates that there are 141 billionaires in USD terms, a number more than any of the previous lists. The inaugural Barclays Hurun India Rich List in 2012 had 59 billionaires.
Of the 841 individuals, Mumbai was home to 233, while New Delhi and Bengaluru accounted for 163 and 70 respectively. The average age of the individuals is 60 and there were 136 women in the list. Ritesh Agarwal (24) of Oravel Stays is the youngest person on the list and Dharam Pal Gulati (95) of MDH the oldest.
49 individuals under the age of 40 inherited their wealth. More than 50% of Indian business listed are run by families.
Nine individuals saw their wealth double year on year. The pharmaceutical sector contributed 13.7% individuals to the rich list, followed by software and services and FMCG with 7.9% and 6.4% respectively.
The list was compiled on the basis of net worth of living Indians as on July 31, when the rate of exchange to the US dollar stood at Rs 68.51.