The 20 Richest People in India right now

According to Forbes, there are a total of 2,668 billionaires in the world this year. They have a combined net worth of $12.7 trillion. India, with 166 members of the three-comma club, has the third-highest number of billionaires after the U.S. (735) and China (539).

The Indian billionaires have a combined fortune of $750 billion. This year, the country has had 26 new billionaires compared to nations like China and Russia which have had fewer billionaires this year compared to last year.

Infoanyday compiled a list of the 20 richest people in India and how they made their fortune. Mukesh Ambani is no longer India’s richest man. Who unseated him? Read on to find out.

20. Benu Gopal Bangur

Net worth: $6.7 billion

Source of wealth: Cement

Global rank: #369

Residence: Kolkata, India

Age: 90

Benu chairs one of the largest cement manufacturers in India, Shree Cement. His fortune comes from a majority stake in the company — which was started by his grandfather in 1979.

Shree Cement also produces and sells power as well as autoclaved aerated concrete building blocks. It has an installed commercial power capacity of 300 megawatts along with a captive and green power capacity of 452 megawatts. In 2021 Shree Cement had revenues of about $1.8 billion. It also has operations in the United Arab Emirates.

19. Hasmukh Chudgar & family

hasmukh-chudgar

Net worth: $6.8 billion

Source of wealth: Pharmaceuticals

Global rank: #363

Residence: Ahmedabad, India

Age: 88

Last year Hasmukh had a fortune of $5.5 billion and was India’s 27th wealthiest person. Chudgar is the founder of Intas Pharmaceuticals. By last year the company operated 19 manufacturing factories, 13 in India, 5 in the United Kingdom, and 1 in Mexico. Europe and India are Intas biggest markets. The billionaire and his family own about 83% of the Indian-based $2.2 billion revenue pharmaceutical company.

18. Ashwin Dani & family

Net worth: $7.7 billion

Source of wealth: Paints

Global rank: #304

Residence: Mumbai, India

Age: 79

Ashwin Dani has a net worth of $7.7 billion and is one of the richest people in India. He’s the non-executive chairman of Asian Paints Ltd, the biggest manufacturer of paints in India and one of Asia’s largest. The company has 26 manufacturing plants in 16 countries including India, Sri Lanka, Nepal, and Bangladesh. It was founded by the billionaire’s father Suryakant Dani and three others from a garage in 1942.

18. Bajaj Siblings

Net worth: $7.7 billion

Source of wealth: Bajaj Group

Global rank: #304

Residence: Pune, India

Age: N/A

The Bajaj siblings are heirs to the fortune of the Bajaj Group, an Indian-based international conglomerate. They inherited their wealth from their late father Rahul Bajaj — who was the great-grandson of the group’s founder, Jamnalal Bajaj. The conglomerate comprises over 40 companies in sectors such as automobiles, finance, home appliances, and insurance.

Some of the group’s most notable subsidiaries include Bajaj Auto, the 4th biggest maker of two and three-wheelers in the world. Other divisions of Bajaj Group include Bajaj Electricals and financial services firm Bajaj Finance. According to the official Bajaj Group website, the business empire has a market value of about $118 billion and is wholly owned by the Bajaj family.

16. Gopikishan Damani

gopikishan-damani

Net worth: $7.8 billion

Source of wealth: Retail

Global rank: #296

Residence: Mumbai, India

Age: 64

Gopikishan Damani is India’s 16th wealthiest person. He was ranked the world’s 296th richest individual by Forbes this year. Together with his elder brother Radhakishan Damani, Gopikishan controls India’s retail giant DMart, which operates more than 250 stores in the country. The hypermarket chain — which had only 25 stores in 2010, went public in 2017 and has grown rapidly over the last decade.

15. Murali Divi & family

Net worth: $8.1 billion

Source of wealth: Pharmaceuticals

Global rank: #275

Residence: Hyderabad, India

Age: 71

The billionaire scientist is the founder of Divi’s Laboratories, an Indian-based international maker of pharmaceuticals. He’s one of the richest people in India. Divi’s Laboratories is a leading producer of pharmaceutical ingredients (APIs) and intermediates, controlling more than 50% of the global market share in generic Naproxen and Gabapentin APIs.

Being worth over $14 billion, Divi’s Laboratories is the country’s second most valuable pharmaceutical firm by market capitalization — after Sun Pharma which has a market cap of about $26 billion. The billionaire and his family own most of the company with his son Divi Satchandra Kiran and daughter Nilima Motaparti holding an estimated 20.34% stake each.

14. Bajaj Brothers

Net worth: $8.6 billion

Source of wealth: Bajaj Group

Global rank: #246

Residence: Mumbai, India

Age: n/a

The Bajaj brothers Niraj, Madhur, and Shekhar are the grandsons of Jamnalal Bajaj, the man who founded the Bajaj Group. Bajaj is a multinational conglomerate comprising over 40 companies including Bajaj Auto, a maker of two and three-wheelers as well as Bajaj Finserv, a financial services firm.

Niraj serves as the chairman and managing director of Mukand Limited, a steel manufacturer and subsidiary of the Bajaj Group. His brother Madhur serves as the non-executive director of Bajaj Auto while the eldest sibling Shekhar is the chairman and managing director of Bajaj Electricals. The group, which was founded over 90 years ago also has interests in other sectors such as insurance, tours and travel, and finance.

13. Kushal Pal Singh

kushal-pal-singh

Net worth: $8.8 billion

Source of wealth: Real estate

Global rank: #235

Residence: Delhi, India

Age: 90

With a fortune of about $8.8 billion, Kushal Pal is one of the richest people in India. The billionaire is the former chairman of DLF, a real estate development firm started by his father-in-law in 1946.

He led the development of the DLF City at Gurgaon on the outskirts of Delhi after the local government banned private developers in Delhi. DLF owns more than 10,000 acres of land in India including 3,000 where the DLF City sits. He served in the Indian Army from 1951 to 1960 before leaving to join DLF.

12. Azim Premji

Net worth: $9.8 billion

Source of wealth: Software services

Global rank: #206

Residence: Bangalore, India

Age: 76

Azim is the former chairman of Wipro, a company that he inherited from his late father. When he took over the company in 1966 at the age of 21, Wipro was a manufacturer of vegetable cooking oil. Azim then turned it into an IT firm and by 2004 Wipro was earning about $1 billion in revenues from the provision of IT services. Today the company has clients in more than 60 countries and offers services ranging from cloud computing to data analytics.

The billionaire was India’s second-richest person in 2019 before donating a huge amount of his fortune to his charitable foundation, the Azim Premji Foundation.

11. Sunil Mittal & family

sunil-mittal

Net worth: $13.9 billion

Source of wealth: Telecom

Global rank: #132

Residence: Delhi, India

Age: 64

11th on the list is Sunil Mittal, the founder and chairman of Bharti Enterprises, an Indian multinational conglomerate that has interests in telecom, hospitality, insurance, and real estate, among other sectors. Its telecom division, Bharti Airtel has a customer base of more than 390 million with operations in 18 nations across Asia and Africa.

The billionaire started his first business venture — making crankshafts for bicycles — at the age of 18. He then got into the import business before venturing into the telecom sector. In 2017 Sunil and his family pledged about $900 million for the construction of Satya Bharti University to provide education to the not so well-off communities in the country.

10. Uday Kotak

Net worth: $14.3 billion

Source of wealth: Banking

Global rank: #129

Residence: Mumbai, India

Age: 63

Although his wealth has dwindled by $1.6 billion over the last year, Uday Kotak still remains one of the richest people in India. His wealth comes from his stake in the Kotak Mahindra Bank, which he founded in 2003.

The bank is currently one of the largest private sector banks in India with assets worth more than $63 billion. The billionaire serves as the executive vice-chairman and managing director of the bank. In 2014 he acquired competitor ING Vysya Bank for $2.4 billion.

Also read: Countries with the most billionaires

9. Dilip Shanghvi

dilip-shanghvi

Net worth: $15.6 billion

Source of wealth: Pharmaceuticals

Global rank: #115

Residence: Mumbai, India

Age: 66

In 1983 Dilip used a $200 investment from his father to start Sun Pharma to make psychiatric drugs. He previously worked for his father’s business of distributing pharmaceuticals. Today Sun Pharma is the largest pharmaceutical company in India and one of the world’s largest.

Last year it had a turnover of about $4.5 billion with the United States being responsible for approximately 30% of this revenue. Its pharmaceutical products are distributed in over 100 countries in the world. In 2014 Sun Pharma acquired rival Ranbaxy Laboratories for $4 billion.

8. Kumar Birla

Net worth: $16.5 billion

Source of wealth: Diversified

Global rank: #106

Residence: Mumbai, India

Age: 54

The billionaire chairs the Aditya Birla Group, a Mumbai-based conglomerate with interests in cement manufacturing, production of fertilizers, telecom, finance, textile, mining, retail, and chemicals among other sectors.

Kumar inherited the company from his late father Aditya Vikram Birla in 1995 when he was 28. Under his leadership, the company’s turnover increased from $3 billion in 1995 to $48 billion in 2019. The group was founded in 1857.

7. Savitri Jindal & family

Net worth: $17.7 billion

Source of wealth: Steel

Global rank: #91

Residence: Hisar, India

Age: 72

She’s the richest woman in India and the world’s 13th wealthiest woman with a fortune of $17.7 billion. Savitri is the widow of Om Prakash Jindal, the founder of Jindal Group.

The business empire which began as a steel production company today has four major divisions which include steel, power, mining, oil, and gas. Each division is headed by each of the billionaire’s four sons. Jindal Group is the third-largest manufacturer of steel in India. Savitri is also a politician.

6. Lakshmi Mittal

lakshmi-mittal

Net worth: $17.9 billion

Source of wealth: Steel

Global rank: #89

Residence: London, UK

Age: 71

Lakshmi Mittal is a steel magnate and is one of the richest people in India. He chairs ArcelorMittal, the world’s largest producer of steel. The billionaire also holds a 40% stake in steelmaker Aperam as well as a 20% stake in England’s Queens Park Rangers football club. He owns 38% of ArcelorMittal, which since 2021 has had his son Aditya Mittal as its chief executive. Last year, the company had $76 billion in revenue.

The billionaire lives at 18-19 Kensington Palace Gardens, London — in a 12-bedroom mansion that also features an indoor pool and a 20-car garage. He bought the property in 2004 for $128 million, making it the most expensive home at the time.

Also read: The richest people in Canada right now

5. Radhakishan Damani

Net worth: $20 billion

Source of wealth: Retail, investments

Global rank: #81

Residence: Mumbai, India

Age: 67

Radhakishan is the founder of India’s chain of hypermarkets DMart and is one of the richest people in India. He started with one store in Powai in 2002 and by 2010 the chain had 25 stores. After going public in 2017, DMart expanded rapidly and today has over 270 stores across the country.

Through his private investment company Bright Star Investments Limited, the billionaire has stakes in India Cements, VST industries among other companies. He traded stocks before starting DMart. His brother Gopikishan Damani is also a billionaire and has a stake in the hypermarket chain.

4. Cyrus Poonawalla

cyrus-poonawalla

Net worth: $24.3 billion

Source of wealth: Vaccines

Global rank: #56

Residence: Pune, India

Age: 81

Cyrus Poonawalla is one of the richest people in India with a net worth of $24.3 billion. The billionaire founded the Serum Institute of India, the planet’s largest producer of vaccines (by number of doses).

The company makes more than 1.5 million vaccine doses every year including those for polio, measles, and flu. Poonawalla’s firm is partnering with several pharmaceutical companies such as AstraZeneca and Novavax to produce Covid-19 vaccines. The billionaire has seen his wealth triple in the last two years.

3. Shiv Nadar

Net worth: $28.7 billion

Source of wealth: Software services

Global rank: #47

Residence: Delhi, India

Age: 76

India’s third-richest man gets his fortune from his majority stake in HCL Technologies, the IT company he founded in 1976. He began by making and selling microprocessors and calculators and later diversified the company to provide IT services.

HCL Technologies is one of India’s biggest providers of software services with revenues of over $10 billion. It has a market cap of about $34 billion and is one of the top 20 largest publicly traded firms in the country.

Shiv Nadar now serves as the company’s chairman emeritus and strategic advisor after stepping down as chairman in 2020. His daughter Roshni Nadar took over as chairperson.

2. Mukesh Ambani

Net worth: $97.6 billion

Source of wealth: Diversified

Global rank: #7

Residence: Mumbai, India

Age: 65

Mukesh Ambani was recently unseated by Gautam Adani as India’s richest person. Ambani is now the country’s second-wealthiest man.

The billionaire chairs Reliance Industries, a Mumbai-based international conglomerate that as of 2022 has a market cap of about $240 billion and is India’s largest publicly traded company. Reliance Industries was founded by the billionaire’s father Dhirubhai Ambani in 1973.

Mukesh and his family live in Antilia, a 27-storey building in Mumbai which was built at a cost of $2.6 billion. The building is regarded as one of the most expensive private residences in the world.

1. Gautam Adani & family

gautam-adani

Net worth: $105 billion

Source of wealth: Infrastructure, commodities

Global rank: #6

Residence: Ahmedabad, India

Age: 59

Gautam Adani who was only worth $8.9 billion in 2020 has seen his wealth grow 10-fold in the last two years. The billionaire founded and chairs Adani Group which controls India’s largest port, Mundra Port.

Adani Group also has interests in the energy, real estate, and commodities sectors. It’s the largest airport operator in India after acquiring a 70% stake in Mumbai International Airport in 2020. This year the billionaire acquired Ambuja Cements from Holcim Group for $10.5 billion.

Gautam dropped out of Gujarat University in his second year. In 1985 he began his first business venture of importing primary polymers for pocket-sized industries. He overtook Mukesh Ambani in February 2022 to become the richest man in India and Asia.

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