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GLOBAL RICH LIST PRESS RELEASE: INDIAN BILLIONAIRES

WITH A WEALTH OF INR 175,400CR (US$26BN), MUKESH AMBANI RETAINS THE RICHEST INDIAN (GLOBAL RANK: 28) TITLE FOR THE SIXTH CONSECUTIVE YEAR 

HURUN REPORT FINDS 132 INDIANS OR INDIAN ORIGIN BILLIONAIRES WITH US$1BN OR MORE 

MUMBAI IS HOME TO 42 BILLIONAIRES, FOLLOWED BY NEW DELHI (21) AND AHMEDABAD (9) 

MUMBAI AND DELHI ADDS 6 BILLIONAIRES THIS YEAR AND BANGALORE LOSES 8 BILLIONAIRES 

27 NEW ADDITIONS. 31 DROPOUTS. ALMOST 1/3RD OF THE LIST REPLACED. 

YOUNGEST IS DIVYANK TURAKHIA, 35, WORTH US$1.2BN (INR 82,00CR) OF DIRECTI SOLD HIS COMPANY MEDIA.NET TO MITENO, A CHINEESE CONGLOMERATE AT VALUATION OF ~US$1BN 

3 BILLIONAIRES UNDER 40. SHAMSHEER VAYALIL (40) OF VPS, VIJAY SHEKHAR SHARMA (38) OF PAYTM, DIVYANK TURAKHIA (35) OF DIRECTI ARE THE ONLY UNDER 40 BILLIONAIRES. ALL OF THEM ARE NEW ENTRANTS TO THE LIST 

SINCE DEMONETISATION ON 8 NOVEMBER 2016, INDIA LOST 11 BILLIONAIRES

32 INDIVIDUALS MIGRATED FROM INDIA

UAE THE MOST PREFERRED DESTINATION WITH 13 IMMIGRANTS; WITH A NETWORTH OF INR 101,000CR (US$14BN), SP HINDUJA AND FAMILY (GLOBAL RANK: 74) ARE THE RICHEST IMMIGRANTS

ECOMMERCE ENTREPRENEURS SACHIN AND BINNY BANSAL DROPS OUT OF THE GLOBAL BILLIONAIRES LIST

AVERAGE AGE IS 64; 123 MEN AND 9 WOMEN.

WITH 21 BILLIONAIRES, PHARMACEUTICALS LEAD THE RICH LIST FOLLOWED BY MANUFACTURING AND TMT WITH 13 BILLIONAIRES EACH

SUPPORTED BY A RECOVERING METALS AND MINING SECTOR, SAVITRI JINDAL AND FAMILY (GLOBAL RANK: 376), 66, OF JSW STEEL SAW HER WEALTH INCREASE BY 101% TO INR 31,500CR (US$4.6BN)

27 INDIANS DEBUTED HURUN GLOBAL RICH LIST

64% ARE FIRST GENERATION ENTREPRENEURS

MUMBAI UNIVERSITY IS THE 5TH MOST PREFERRED GRADUATION SCHOOL FOR HURUN GLOBAL RICH LIST BILLIONAIRES FROM INDIA

ACHARYA BALAKRISHNA (GLOBAL RANK: 500), 44, OF PATANJALI IS THE WEALTHIEST NEW FACE AT 29TH POSITION WITH A NETWORTH OF INR 24,900CR (US$3.7BN) 

65% DERIVES WEALTH FROM LISTED ENTITIES. INDIA PREFERRED DESTINATION FOR LISTING. 

KIRAN MAZUMDAR-SHAW (GLOBAL RANK: 1,172) THE ONLY SELF MADE WOMEN BILLIONAIRE WITH WEALTH OF INR 12,900CR (US$1.9BN)

Leading Authority on Asia’s private wealth, Hurun Report launches the sixth edition of the global rich list

  • WITH 132 BILLIONAIRES IN HURUN GLOBAL RICH LIST, THE AVERAGE BILLIONAIRE WEALTH HITS AT INR 20,400CR (US$3.0BN) COMPARED TO GLOBAL AVERAGE OF US$3.5BN.
  • 27 NEW ADDITIONS TO HURUN GLOBAL RICH LIST.
  • MUKESH AMBANI, THE NEW TELECOM WARRIOR, IS THE ONLY INDIAN TO FEATURE IN SUB 50 POSITION IN THE HURUN GLOBAL RICH LIST 2017.
  • SP HINDUJA & FAMILY (GLOBAL RANK: 74) WITH INR 101,000CR (US$14BN) SECURE SECOND POSITION IN HURUN GLOBAL RICH LIST INDIA, FOLLOWED BY DILIP SHANGHVI (GLOBAL RANK: 74) RANKED AT THIRD WITH WEALTH OF INR 99,000CR (US$14BN)
  • SHIV NADAR (GLOBAL RANK: 97)  WITH INR 81,200CR (US$12BN) WHO STOOD SIXTH IN HURUN GLOBAL RICH LIST INDIA IS THE MOST GENEROUS INDIAN AS HE DONATED MOST OF HIS WEALTH FOR INFRASTRUCUTRE PROJECTS IN UNIVERTISITIES
  • IT’S INTERESTING TO NOTE THAT WHILE PHARMACEUTICALS SECTOR CREATED 21 BILLIONAIRES, THE AVERAGE WEALTH STOOD AT INR 21,400CR (US$3.1BN) COMPARED TO GLOBAL AVERAGE OF US$2.9BN. BUT TMTWITH ONLY 10 BILLIONAIRES THE AVERAGE WEALTH IS AT INR 26,800CR (US$3.9BN) COMPARED TO GLOBAL AVERAGE OF US$4.6BN.
  • WITH 5 BILLIONAIRES, GODREJ GROUP CONTRIBUTES MOST NUMBER OF BILLIONAIRES, FOLLOWED BY HERO HONDA AND ASIAN PAINTS WITH 3 EACH
  • 78 OF THE 132 ARE SELF MADE AND 54 ARE INHERITED BILLIONAIRES.
  • THE TOTAL WEALTH OF INDIA’S TOP 132 IN 2017 INCREASED TO INR 2,690,376CR (US$392BN)16% RISE THAN LAST YEAR.
  • INDIAN ORIGIN BILLIOANARIES CONTRIBUTING 4% TO GLOBAL BILLIONAIRE WEALTH 

(MUMBAI, 7 March 2017): Today Hurun Report released the Hurun Global Rich List India, a list of the richest people in India featuring in the Hurun Global rich list with a cut-off of US$1bn. This is the 6th year of the list, which has become a benchmark for the private sector. For all conversion purposes USD to INR is INR68.1/USD

Mukesh Ambani, 59 (Global Rank: 28): With a fortune of INR 175,400CR (US$26bn), oil and telecom mogul and the chairman ofReliance, Mukesh Ambani, topped the list of 132 individuals. In addition to his aggressive plans for his oil business, Mukesh Ambani is now focusing on his new telecom venture, Jio, which has acquired more than 100 crore customers in less than 6 months. This aggressive price war has dragged down other local players such as Idea, Airtel; Infact Idea registered a record loss of INR 384CR in Q3 2016 and is planning on a merger with Vodafone to survive the competition.

With a net worth of INR 101,000CR (US$14bn), S.P.Hinduja & family, 81 (Global Rank: 74), the business tycoon and the primary shareholder and chairman of Hinduja Group. The family lives in Carlton House Terrace, in the heart of London’s Westminster neighborhood. All four brothers are known by the initials GP, SP, PP and AP. The conglomerate’s Hinduja National Power Corp. unit is setting up a 1,040-megawatt thermal power plant in the southern state of Andhra Pradesh. Hinduja Group, the industrial conglomerate controlled by four billionaire brothers is vying for SunEdison Inc.’s Indian solar assets

Dilip Shanghvi60 (Global Rank: 74): India’s richest pharma magnate and the founder of Sun Pharmaceuticals, drops to 3rd position because of a 22% decline in his wealth of INR 99,000CR (US$14bn), fueled by 18% drop of Sun Pharma shares, his flagship company. Earlier this year, he withdrew his plans to form a payment bank venture in India.

“India had a tough year because of disruptive government policies such as demonetization drive. However, on a long term perspective, we do believe that such transparent currency economics will have a positive impact for the entrepreneurs”, said Anas Rahman Junaid, Managing Director and Chief Researcher, Hurun Report India. 

Pallonji Mistry, 86 (Global Rank: 97) Indian construction tycoon is on the fourth position. Mistry is the largest individual shareholder in Tata Sons. He is worth INR 82,700CR (US$12bn) equaling the entire market capitalization of Tata Motors, one of India’s largest automaker. Cyrus Mistry’s removal as the Chairman of Tata Sons’ has cast a shadow on the ties between the two families and hence the dispute has affected value of his 18% stake in Tata Sons. 

Table1: Indian billionaires in Hurun Global Rich List 2017 – Top 10

Rank (Global Rank)  Name Net worth INR CR (US$bn) Company  Rank Name Net worth INR CR (US$bn) Company
1 (28) Mukesh Ambani 175,400 (26) Reliance 1 Bill Gates 551,800 (81) Microsoft
2 (74) SP Hinduja & family 101,000 (14) Hinduja Group 2 Warren Buffett 531,400 (78) Berkshire Hathaway
3 (74) Dilip Shanghvi 99,000 (14) Sun Pharma 3 Jeff Bezos 490,500 (72) Amazon
4 (97) Pallonji Mistry 82,700 (12) Shapoorji Pallonji 4 Amancio Ortega 470,100 (69) Inditex
5 (97) Lakshmi N Mittal 81,800 (12) ArcelorMittal 5 Mark Zuckerberg 395,100 (58) Facebook
6 (97) Shiv Nadar 81,200 (12) HCL 6 Larry Ellison 327,000 (48) Oracle
7 (106) Cyrus Poonawalla 75,400 (11) Serum 7 Carlos Slim Helu & family 313,400 (46) America Movil
8 (135) Azim Premji 66,300 (9.7) Wipro 8 Charles Koch 292,900 (43) Koch Industries
9 (138) Uday Kotak 49,200 (7.2) Kotak Mahindra 8 David Koch 292,900 (43) Koch Industries
10 (207) David Reuben 45,600 (6.7) Global  Switch 10 Michael Bloomberg 286,100 (42) Bloomberg
10 (207) Simon Reuben 45,600 (6.7) Global  Switch        

Source: Hurun Global Rich list; Hurun India Rich list

Lakshmi N Mittal, 64 (Global Rank: 97) chairman of Arcelor Mittal, the world’s largest steel maker by output, ranks fifth position with INR 81,800CR (US$12bn) and is one of the world’s five largest producers of iron ore. In 2016, the world’s largest steel producer Arcelor Mittal has also offered a joint bid with Italy’s Marcegaglia to buy Ilva, Italy’s steel plant. His wealth increased by 76% backed by the recovery in the metals and mining industry – a situation that has made Arcelor Mittal profitable since last 5 years.

Shiv Nadar, 71 (Global Rank: 97), an Indian Industrialist and Philanthropist also ranked no 6 with INR 81,200CR (US12bn). The chairman and founder of HCL Technologies, Nadar, is the Most Generous Indian as he donated most of his wealth for infrastructure projects in universities. His daughter Roshni Nadar, 40, is currently leading the diversification of HCL to health care and skills training business. They also support art and own an extensive art collection.

Cyrus S Poonawalla, 75 (Global Rank: 106), India’s 7TH richest man and also known as the vaccine billionaire has a personal fortune ofINR 75,400CR (US$11bn). His privately owned firm, Serum Institute, which was set up 50 years ago, saw an increase in revenue and profit. He has an extensive art collection and sports cars as well. He has donated INR 100 crores towards Indian philanthropy and is also planning on setting up a parallel plant in Pune for European expansion. The Poonawalla family also owns India’s largest stud farm – The Poonawalla Stud Farm.

Azim Premji, 71 (Global Rank: 134), the tech mogul, is the 8th richest Indian with a wealth of INR 66,300CR (US$9.7bn), a 26% increase from last year. About 40% of Wipro, is owned by a philanthropic trust that works to improve conditions in Indian villages.

With a networth of INR 49,200CR (US$7.2bn), Uday Kotak, 57 (Global Rank: 134), the CEO of Kotak Mahindra Bank is one of the most powerful people in the financial world and is the only individual from the banking sector in the list.

David Rueben (74) and Simon Rueben (75), the Rueben brothers (Global Rank: 207), share the 10th position with a fortune of INR 45,600CR (US$6.7bn) with a rise in 29% in their wealth from last year. The Rueben brothers are majority owners of Global Switch and their Reuben Foundation focuses on health care and educational causes. 

Mumbai Tops again

With 132 individuals from the Hurun India Global List 2017, Mumbai is the capital for India’s super-rich, followed by Delhi (21) and Ahmedabad (9). 

Table 2: Geographical spread of Indian Billionaires in Hurun Global Rich List 2017

Rank Global Rank City of Residence No of billionaires Total wealth (INR CR)
1 8 Mumbai 42 10,76,375
2 21 New Delhi 21 358,338
3 44 Ahmedabad 9 97,419
3 24 Dubai 9 118,119
4 48 Bangalore 8 188,706

Source: Hurun Global Rich list; Hurun India Rich list

Maharashtra contributes most no. of billionaires in Hurun Global Rich List 2017

Table 2.1: Indian Billionaires State wise spread

Rank State No of billionaires
1 Maharashtra

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