Ambani’s wealth 50% more than GDP of his birth country Yemen: Hurun Report

Mukesh Ambani Chairman, Reliance Industries. Express archive photo. *** Local Caption *** Mukesh Ambani Chairman, Reliance Industries. Express archive photo.

Reliance Industries Chairman Mukesh Ambani has been ranked first in Hurun India Rich List for the sixth consecutive year. Ambani’s net worth of ₹2,57,900 crore is 50% more than the GDP of the country of his birth, Yemen. Over the last one year, shares of Reliance Industries have gained over 1% every seven days, rising by 56% in 52 weeks.

Hurun Report India releases Hurun India Rich List 2017


·         Hurun Report finds 617 individuals with INR1,000 Crore or more, up 278 from last year, quadrupled from three years ago

·         On average, the wealth of Hurun India Rich Listers have increased by 17% compared to that of last year

·         Number of dollar billionaires has increased to 136 from 126 last year. The inaugural Hurun India Rich List in 2012 had 59 billionaires


“For every 1 entrepreneur in Hurun India Rich List 2017, we estimate that we missed 3”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India


·         40 have migrated from India and are NRIs

·         16  saw their wealth double year on year

·         Average age of the Hurun India Rich List is 60;

·         The fastest riser is Radhakishan Damani (62) of Avenue Supermarts; He registered a 3 times increase in wealth to INR 29,700 Cr

·         100 individuals saw their wealth decline.

·         Haridwar-based Acharya Balkrishna (45) of Patanjali rose to 8th position, from 25th last year, after seeing his wealth grow by 173% to INR 70,000Cr

·         Eklavya Juneja (24) of Mankind Pharma is the youngest person in the list. He owns 12% of Mankind Pharma which was founded by father Rajeev Juneja

·         Pharmaceuticals dominate with 13% of the list, followed by FMCG and Chemical & Petrochemicals with 10% and 6% respectively

·         A record high of 50% of Hurun India Rich List 2017 are self-made and are generated by family businesses. Average age of self made Hurun India Richlisters is 62

·         Hurun India Rich List has eight self-made women this year, compared to two in last year

·         34 in the list under the age of 40; 28 in the under 40 inherited their wealth

·         7 individuals in Hurun India Rich List 2017 has ownership in IPL teams and 4 in ISL teams

·         This year, we split the wealth of Pallonji Mystry among his sons Cyrus and Sharpoor equally. The Mystry brothers own 18.38% stake in Tata Sons through two investment companies Cyrus Investments and Sterling Investment which owns 9.19% stake each. Both the investment companies are equally owned by Cyrus Pallonji Mistry and Shapoor Pallonji Mistry.

·         The combined wealth of India’s richest is a staggering US$640bn, equating to 1/4thof India’s GDP last year and similar to the GDPs of Switzerland ($660bn), and combined GDP of South Africa ($317bn) & Israel ($340bn).

·         Leading Authority on India’s private wealth, Hurun Report launches the India Rich List for the sixth time

·         “The Richest Horoscopes” – Those born in Capricorn, Taurus and Cancer produced most number of individuals in the rich list and Aquarius the least!!!




MUMBAI, 25 September 2017: Today Hurun Report released the Hurun India Rich List, a list of the richest people in India with a cut-off at INR 1,000 Cr. This is the sixth year of the list, which has become a benchmark for the private sector and has become widely accepted to be the most robust attempt at covering entrepreneurship in India. Wealth calculations are a snapshot of networth of living individuals as of 31st July, 2017 when the rate of exchange to the US dollar was INR 64.1


Stock Markets Performance


Bombay Stock Exchange (BSE) Sensex went up by 16.1% as on July 31, 2016 to 32,514 on July 31, 2017. For the year under review, BSE Mid Cap (16.4%) and BSE Small Cap Index (2.72%) outperformed the benchmark index. Sensex also outperformed compared to Global indices NYSE (10.5%) and DAX (13.7%). Currently, Indian stock market seems to be trading at an expensive valuation of 23.3x compared to last year’s 19.6x.


“The market capitalization of all listed companies is now equivalent to 84% of India’s nominal GDP which is the highest in emerging markets. This year, we have expanded the list to highlight the success stories of some of the emerging entrepreneurs” says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher.


“The total number of rich list entrants increased 6 times since we launched the list six years ago; a good indication that Indian entrepreneurs are coming of age with global ambitions” says Rupert Hoogewerf, Hurun Report Global, Chairman and Chief Researcher.


Indian currency depreciated by 3% versus USD during the period under review.


With networth of INR 257,900 Crore Mukesh Ambani (60), the business magnate, ranked first in the list for the sixth consecutive year. Share price of Reliance industries hit nine year high in July 2017. Over the last one year, Reliance Industries shares have gained over 1% every seven days, rising by 56% in 52 weeks. His wealth is 50% more than the GDP of the country of his birth – Yemen.


“It is rare to find a country with such a dominant richest person (Mukesh Ambani) whose wealth is thrice more than that of the no.2 in the list. We have never seen such a wide margin between the richest and the second richest in big countries that include USA, China, UK, Russia and so on”, said Rupert Hoogewerf, Chairman and Chief Researcher, Hurun Report Global


With a networth of INR 89,000 Crore, Dilip Shanghvi (61) of Sun Pharma retains the second place despite shares of his flagship company going down by 36%. FDA USA put Sun Pharma under scanner after having noted regulatory breaches – as situation that led to barring new product approvals.


The Steel Baron, Lakshmi Niwas Mittal (67) secures third position for the first time with a networth of INR 88,200 Crore due to an uptick in steel prices and demand. Recently he also got a reprieve from import tariffs on steel imposed by the US and Europe and a one-time $832 million saving from a new labor contract signed last year with his US workers.


With networth of INR 85,100 Crore, Shiv Nadar (72), the founder and chairman of HCL, the fourth largest software service has acquired Broomfield, Colorado-based mortgage business process and fulfilment service providing company, Urban Fulfilment Services for $30million in August 2017. HCL has introduced innovative hiring procedures, where the company hire and train students straight out of high school – a first of its kind initiative amongst the large cap companies.


Founder of multi-billion dollar IT giant Wipro, Azim Premji (72) registered a fortune of INR 79,300 Crore. He founded the Premji Invest in 2006 and is a private equity fund that manages almost US$2bn of his personal wealth by investing in capital markets and also by picking up minority stakes in start-ups across India, the US and China.


Table 1: Hurun India Rich List 2017 – Top 10


Rank Name Wealth INR Crore Change Company Age Residence
1- Mukesh Ambani 257,900 58% Reliance 60 Maharashtra
2­ Dilip Shanghvi 89,000 -27% Sun Pharma 61 Maharashtra
3 LN Mittal 88,200 32% ArcelorMittal 67 London
4 Shiv Nadar 85,100 16% HCL 72 Delhi
5 Azim Premji 79,300 6% Wipro 72 Karnataka
6 Cyrus S Poonawalla 71,100 -9% Serum Institute of India 76 Maharashtra
7* Gautam Adani 70,600 66% Adani Enterprises 55 Gujarat
8* Acharya Balkrishna 70,000 173% Patanjali Ayurved 45 Uttarakhand
9­ Uday Kotak 62,700 21% Kotak Mahindra Bank 58 Maharashtra
10- Sunil Mittal & Family 56,500 12% Bharti Airtel 59 Delhi

↑ Rank increase yoy ↓ Rank decrease yoy – No Rank change yoy * New to Top 10 

Source: Hurun India Rich List. For more details visit


With networth of INR 71,100 Crore, Billionaire Cyrus S Poonawalla (76) of Serum Institute secures the sixth position in the Hurun India Rich List. He is investing $150 million in a new factory to make a range of vaccines, including for dengue and pneumonia. Poonawalla recently contributed $2.5 million for a hospital named after his late wife, which focuses on the under privileged children and adults.


With networth of INR 70,600 Crore, Port Tycoon, Gautam Adani (55) Chairman of Adani Group made the highest investment commitment of INR 49,000 Crore in Gujarat which would create direct and indirect job opportunities for 25,000 people. This wealth increase is despite a strong controversy he faced from an environmental campaign that was launched to stop the development of Adani Group’s $16.5 billion coal mine in Queensland.


Acharya Balkrishna (45), CEO of Patanjali is now officially part of India Rich List Top 10 and has secured a second place in Indian FMCG market share in under 5 years. The company, with a turnover of INR 10,561 crore in 2016-2017 has been a close competition to major international brands. He owns close to 94 % of Patanjali Ayurved and is the brain behind the admirable growth of Patanjali as a consumer brand.


Banker Uday Kotak (58), the managing director of Kotak Mahindra Bank, has a networth of INR 62,700Crore. The board of the Kotak Mahindra Bank decided to raise over INR 5,300Crore by diluting 3.3 % of the promoters holding, for pursuing a host of opportunities, including consolidation.


Indian telecom magnate, Sunil Mittal (59), the founder and chairman of Bharti Airtel has a networth of INR 56,500 Crore. Mittal recently signed the agreement to acquire Telenor’s Indian and bought additional 4G spectrum to fight off the mighty rival. He launched the Airtel Payment Bank (APB), a joint venture with Kotak Mahindra Bank and has committed INR 3,000 crore to develop a pan-India banking network and digital payments ecosystem.


The Richest Indian families


More than 50% of Indian business listed in the rich list is run by families. This year, Hurun Report has split the families based on available ownership information.


Table 2: The top 5 Richest Indian families




Name of Family Members Wealth 2017 (INR Cr)  



Prominent Person of the Family
1 Godrej 5 1,89,135 3 Adi Godrej
2 Hinduja 4 97,328 2 SP Hinduja
3 Adani 2 86,275 1 Gautam Adani
4 Damani 9 51,779 1 Radhakishan Damani
5 Burman 6 43,426 4 Anand Burman

Source: Hurun Research Institute. For more details visit


Where they live.

Mumbai registered an increase of 78 individuals in the rich list and Delhi added 52. With 182 individualsMumbai is the capital for India’s super-rich, followed by New Delhi (117) and Bengaluru (51). With 26 new entrants, Ahmedabad breaks into top 5. With 22 and 11 India Rich Listers, Chennai and Kanpur respectively breaks into top 10 cities of residence for Hurun India Rich Listers.


There are 18 new cities in this year’s list compared to last year. Chennai and Kanpur have performed well this year with a 35% and 27% increase in number of India Rich Listers respectively and have reserved spot amongst the Top 10 cities this year. Interestingly, Udaipur has 3 Indian Rich Listers, Vadodara has 2, and Kanchipuram and Faridabad has 1 Indian Rich Lister in Hurun India Rich List 2017.


With 214 and 117 entrants respectively, Maharashtra and Delhi are the preferred states of residence for Hurun India Rich Listers. It is interesting to note that in the Hurun India Rich List 2017, 23 individuals have migrated into Maharashtra, 22 to Delhi and 13 to Karnataka to set up and establish their businesses.


Table 3Geographical spread of Hurun India Rich List 2017


City of Residence Rich List Entries Richest Individual 2017 State of Residence Rich List Entries Richest Individual 2017
1- Mumbai 182 Mukesh Ambani 1 Maharashtra 214 Mukesh Ambani
2- New Delhi 117 Shiv Nadar 2 Delhi 117 Shiv Nadar
3- Bengaluru 51 Azim Premji 3 Karnataka 55 Azim Premji
4- Hyderabad 36 PV Ramaprasad Reddy 4 Telangana 38 PV Ramaprasad Reddy
5 Ahmedabad 26 Gautam Adani 5 Gujarat 36 Gautam Adani
6 Kolkata 23 Benu Gopal Bangur 6 Tamil Nadu 30 Kalanithi Maran
6- Pune 23 Cyrus S Poonawalla 7 West Bengal 23 Benu Gopal Bangur
8* Chennai 22 Kalanithi Maran 8 Uttar Pradesh 16 Yadupati Singhania & Family
9 Dubai 12 Micky Jagtiani 9 Kerala 13 Joy Alukkas
10* Kanpur 11 Yadupati Singhania & Family 10 Haryana 6 Savitri Jindal & Family
11# London 10 LN Mittal 11 Rajasthan 5 Kailashchandra Nuwal
12# Cochin 7 George Alexander Muthoot & Family 12 Madhya Pradesh 4 Dilip Suryavanshi
13# Coimbatore 6 P.Nataraj, KPD Sigamani & KP   Ramasamy 12 Punjab 4 SP Oswal
14# Singapore 5 Shyam Bhartia 14 Bihar 3 Ravindra Kishore Sinha & family
15# Abu Dhabi 4 Yusuffali MA 15 Jharkhand 2 Mukund Rungta
15# Aurangabad 4 Anurang Jain & family
15# Bhopal 4 Dilip Suryavanshi
15# Gurgaon 4 Nirmal Kumar Minda
15# Noida 4 Sunita Gupta & Rita Kumari
15# Rajkot 4 Bhikhabhai Popatbhai Virani
15# Surat 4 Savji Dholakia & family


↑ Rank increase yoy ↓ Rank decrease yoy – No Rank change yoy * New to Top 10    # New to Top 20

Source: Hurun Research Institute. For more details visit


UAE, UK & USA are the preferred countries for migration

There are 40 immigrants in Hurun Indian Rich List 2017. 64% of them are self made. With 14 individuals, UAE is the most preferred destination for immigration, followed by 10 in UK and 8 in USA. With INR 88,200 crore, LN Mittal ofArcelorMittal is the wealthiest immigrant into UK. With a fortune of INR 31,900CR, M.A Yusuf Ali is the wealthiest immigrant into UAE.


Table 4: Hurun India Rich List 2017 – Richest Non-Resident Indians


 No Names Wealth

(INR Crore)

City Company Age
1 LN Mittal 88,200 London LN Mittal 67
2 Yusuffali MA 31,900 Abu Dhabi Emke 61
3 Vivek Chaand Sehgal 27,000 Melbourne Motherson Sumi System 60
4 SP Hinduja 24,300 London Hinduja Group 81
4 GP Hinduja 24,300 London Hinduja Group 77
4 PP Hinduja 24,300 Geneva Hinduja Group 72
7 Sunny Varkey 17,900 Dubai Gems Education 60
8 Anil Agarwal 17,300 London Vedanta Resource 64
9 BR Shetty 17,300 Abu Dhabi NMC 75
10 Rakesh Gangwal 16,100 Mclean Interglobe Aviation 64

Source: Hurun Research Institute. For more details visit



The biggest gain registered was a 321% increase by Radhakishan Damani (62), Chairman of Avenue Supermarts followed by Anurang Jain & family (55), the Managing Director of Endurance Technologies with a wealth increase of 286%.


The top three in the biggest gainers list are backed by the IPO performance of their companies. For instance, Radhakishan Damani’s wealth increase was backed by the IPO of Avenue Supermarts, which runs the D-Mart brand of stores in the supermarket chain. The shares of Avenue Supermarts were listed at a premium of 102% and rallied further 43% as on 31 July 2017.


IPO of auto component maker Endurance Technologies resulted in 286% increase in the wealth of Anurang Jain in 2017.


Another notable performer was Kishore Biyani of Future Retail who registered a 259% wealth increase. Merger of Future Retail and Bharti Retail created the biggest supermarket chain with a turnover of INR 15,000 crore and its subsequent relisting resulted in significant wealth creation for Biyani.



Table 5Hurun India Rich List 2017 – Biggest Gainers

No Name Wealth (INR Crore) % Change Company Age Industry
1 Radhakishan Damani 29,700 321% Avenue Supermarts 62 Retail
2 Anurang Jain &   family 11,500 286% Endurance   Technologies 55 Automobiles &   Auto Components
3 Kishore Biyani 17,200 259% Future Group 57 Retail
4 Adani Vinodbhai   Shantilal 15,700 200% Adani Enterprises Diversified
5 Ajay Piramal 42,700 186% Piramal Enterprise 67 Pharmaceuticals

Source: Hurun Research Institute. For more details visit


Young and Rich!


All the young entrepreneurs under 40 in Hurun India Rich List 2016 are active in their respective businesses

  • The youngest      person on the list is Eklavya Juneja (24) of Mankind Pharma
  • The oldest is Keshub      Mahindra (94) of Mahindra & Mahindra


All the under 40 entrepreneurs in Hurun India Rich List 2017 derive their wealth from innovative technological ventures. Divyank Turakhia bootstrapped his company without external funding. Rest of the entrepreneurs raised money from some of the top international funds.


“These self made entrepreneurs symbolize the new age startup entrepreneurs from India. Their success stories will further garner active international investments into Indian startup ecosystem,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India


Table 6: Hurun India Rich List 2017 – Self-made under 40

S.No Name Age Wealth   (INR Crore) City Company Industry  

Notable   Investors

1 Binny   Bansal 34 5,400 Bengaluru Flipkart e-commerce SoftBank,   Microsoft, Tencent
2 Divyank   Turakhia 35 11,500 Dubai Media.Net Media   Tech Self   funded
3 Sachin   Bansal 36 5,400 Bengaluru Flipkart e-commerce SoftBank,   Microsoft, Tencent
4 Vijay   Shekhar Sharma 39 9,000 New Delhi Paytm Fin Tech Alibaba
5 Byju   Raveendran 39 1,000 Bengaluru Think and   Learn Edu Tech Chan   Zuckerberg Intiative, Tencent

   Source: Hurun Research Institute. For more details visit

Women in the India Rich List increased by 300% from 15 to 53 this year

8.6% of the list are women of which 8 are self-made. The richest women are Savitri Jindal, 66, of OP Jindal Group with INR 46,500 crore, followed by Smitha V Crishna of Godrej, Indu Jain chairperson of Time Group. The richest self-made woman in India is biotechnology queen Kiran Mazumdar-Shaw of Biocon with INR 15,400 crore. Average age of women in the list 56.


Table 7: Hurun India Rich List 2017 – Richest self-made Women in India


 NO Name Wealth Age  Company Location Industry
(INR Cr)
1 Kiran Mazumdar-Shaw 15,400 64 Biocon Bengaluru Pharmaceuticals
2 Vembu Radha 4,500 44 Zoho   Corp Chennai Software & Services
3 Sheela Gautam 2,600 85 Sheela   Foam New Delhi Consumer Durables
4 Ambiga Subramanian 2,500 42 Mu   Sigma Bengaluru Software & Services
5 Shakuntala Shetty 2,100 55 Narayana   Hrudayalaya Bengaluru Healthcare
6 Prabha Arora 1,700 69 Mankind   Pharma New Delhi Pharmaceuticals
7 Urrshila Kerkar 1,400 51 Cox   & Kings Mumbai Tourism
8 Gundavaram Vanaja Devi 1,200 64 Kaveri   Seed Hyderabad Others

Source: Hurun Research Institute. For more details visit


Industry analysis


At a sectorial level, Pharma / Healthcare (-12.8%) and IT (-5.1%) underperformed among the sectorial indices. All the others performed with at least 15% return – the biggest gainer was realty with a 36.3% return year to date. Indian drug makers are facing pricing pressures and greater regulatory scrutiny in their largest market, the US.


“Demonetization, GST implementation and so on have not impacted wealth creation in organized sector; infact, going by the trend in the list, the aforementioned factors seems to have positively impacted the mega rich and their companies. Despite a solid performance of the corporates, a declining trend in national GDP growth points to impact of such schemes on the unorganized sectors”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India.

With 79 individuals, Pharmaceuticals leads the list with Dilip Shanghvi as the richest individual with fortune of INR 89,000 Crore. It is followed by FMCG with 63 individuals and Chemicals & Petrochemicals with 38 individuals. Other industries that had a good year include Consumer Durables, Automobiles & Auto Component and Construction & Engineering.


BSE Realty index have surged on positives such as RERA and affordable housing initiatives by the Modi government. Consumer Durables gained over 32.7% on timely GST developments and rollout.  Banking and Financial sectors gained with RBI stepping in to solve the NPA issues.


Kushal Pal Singh (86) of DLF is the richest real estate billionaire in the list with a wealth of INR 27,400 crore. Mangal Prabhat Lodha (61), founder of Lodha Group is the richest private real estate developer in the list with a wealth of INR 18,500 crore followed by Jithendra Virwani (51) of Embassy Property Developments with INR 17,600 crore.


“Formalization of Jewelry sector with 3% GST compared to 2% tax earlier has benefited the large and organized players and has further streamlined the industry value chain” says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher.


New Energy India Rich Listers: Tulsi Tanti of Suzlon Energy is the top green energy Hurun India Rich Lister with INR 2,300 crore followed by Anil Chaudhary & family of Kolkata based Vikram Solar with a net worth of INR 1,000 crores.


Pharma is still the king!

The industries that added the most number of new entrants to the list were pharmaceuticals, FMCG, Construction & Engineering and Automobiles & Auto Components. Almost all the industries added 50% more individuals than last year. Capital Goods, Construction Materials, Retailing and Transportation broke into top 10 for the first time since the inception of Hurun India Rich List 2017.


Table 8Hurun India Rich List 2017 – Industry breakdown

No.  Industry % in the list 2017% increase in   the number of Hurun Rich Listers Richest individual Wealth (INR Cr)
1- Pharmaceuticals 13% 110% Dilip Shanghvi 89,000
2- FMCG 10% 67% Acharya Balkrishna 70,000
3- Chemicals & Petrochemicals 6% 81% Ashwin Dani 25,900
4- Consumer Durables 6% 50% Adi Godrej 37,800
5↑ Automobiles & Auto Components 6% 100% Vikram Lal 44,200
6↑ Construction & Engineering 6% 140% Ravi Pillai 13,600
7↑ Software & Services 5% 114% Shiv Nadar 85,100
8↓ Financial Services 5% 56% Uday Kotak 62,700
9* Capital Goods 4% 200% Balkrishan Goenka 9,400
10↓ Realty 4% 110% Kushal Pal Singh 27,400

↑ Rank increase yoy ↓ Rank decrease yoy – No Rank change yoy * New to Top 10

Ranking based on total number of entries from each industry

Source: Hurun Research Institute. For more details visit


For a snapshot of the industry that added most number of new entries, refer the table below.


Table 9: Industry producing most number of new entrants


Industry  new Addition Richest New Entrant Wealth (INR Cr) Company
Pharmaceuticals 43 B Vamsi   Krishna 9,200 Hetero   group
FMCG 28 Saket   Burman, V C Burman 7,400 Dabur
Construction   & Engineering 21 Kanubhai   Mafatlal Patel & family 2,300 Montecarlo
Automobiles   & Auto Components 18 Renu   Munjal 7,000 Hero   Motocorp
Capital   Goods 17 Surjit   Kumar Gupta 5,700 Havells   India
Chemicals   & Petrochemicals 17 Narendrakumar   Kalyanji Parekh 5,000 Pidilite   Industries

Source: Hurun Research Institute. For more details visit



Despite the underperformance of Pharma sector, it still contributes the highest to the list with 79 entries that includes16 billionaires. In 2017, the sector witnessed a 9% growth in cumulative wealth compared to 17% in 2016. But growth in per capita wealth for pharma entrepreneurs in the list declined by 50% mainly on account of wealth split and a lackluster financial performance of some of the major listed and private companies. For instance, wealth of Dilip Sanghvi, the top pharma billionaire declined by INR 32,400 crore to INR 89,000 crore due to poor performance of Sun Pharma in bourses.



63 individuals derived their wealth from the FMCG sector and contributed 28 new entrants and 15 billionaires to this year’s list. This sector witnessed a 45% increase in wealth compared to 14% in last year. With 173% increase in wealth, Acharya Balkrishna of Patanjali Ayurved marks his entry to the top 10 list. Chandra Mohan RG of Hatsun Agro also registered an increase of 123% backed by stellar performance of his company’s share price


Chemicals & Petrochemicals

Indian chemical industry ranks 12 in the world by volume of production and have contributed 38 entrants to the list. Ashwin Dani, Abhay Vakil and Ashwin Choksi, founders of Asian paints, India’s largest paint manufacturer top the chemical entrepreneurs rich list. The sector contributes 17 new entrants to the list of which 9 are self-made.


Consumer Durables

Consumer Durable sector registered a 77% increase in cumulative wealth and is the best performing sector for 2017. It contributes 37 entrants to list, one less than chemical (38) and one more than Automobile (36). Godrej family leads the consumer durable sector with a cumulative wealth of INR 189,100 crore.


Automobiles & Auto Components

Automobile sector grew 53% year on year and has contributed 36 individuals to the list with 12 billionaires. Vikram Lal of Eicher Motors leads the sector with a wealth of INR 44,200 crore followed by Rahul Bajaj of Bajaj Auto and Vivek Chaand Sehgal of Motherson Sumi System with wealth of INR 43,900 crore and INR 27,000 crore respectively.


Ecommerce in India


Online sales are nearly flat in 2016, after tripling in 2015 and doubling in 2014.  The founders of ecommerce companies have shifted their focus from sales to profits by ceasing subsidised unprofitable sales and concentrated on limiting their losses dented overall sales. Some of the major companies accepted investment based on valuations significantly below their peaks, are now the new normal.


Of India’s 1.2bn population, and only a small portion of 1/5th are shopping online. This is a good opportunity for ecommerce companies. Heavily funded Amazon and Alibaba has resulted in a “bloodbath” in Indian ecommerce. For instance, SnapDeal which had valuation of US$6bn at its speak was struggling to achieve a US$1bn valuation in 2017. This year entrepreneurs such a s Kunal Bahl (SnapDeal), Bhavish Aggarwal (Ola) are some of the famous entrepreneurs who have been knocked out of the Hurun India Rich List 2017 list due to the current ecommerce market competition.


Real estate and jewelry after demonetisation

Real estate is the best performing sector in 2017, with the index returning 36.3% return – possibly because buyers deferred their purchase decision and not discard it due to demonetisation. Performance of the sector is against the general perception that real estate would be the most affected sector  on contrary  BSE Realty index fared a whopping  48% return after demonetization.  Post demonetization, there has been an increased transparency in the purchase and payment system of property.  On February 2017 government announced infrastructure status to affordable housing to encourage investment in this segment and offered tax sops to developers sitting on completed but unsold inventories.


India consumes almost all the gold it imports and last year demand was 666 metric tons which is higher than the entire gold reserve of the European Central Bank. Demonetisation and introduction of GST accelerated the gradual shift of customers from the unorganised sector that accounts 78% of the retail gems and jewelry market to the organised sector. On August 2017, Prevention of Money Laundering Act (PMLA) was applied to the gems and jewelry sector after demonetisation; it was a fallout of income-tax raids on jewelers soon after demonetisation in last November, when it was found that they sold gold and jewelry at a huge premium and accepted old currency notes as payment.


Notable Philanthropic Donations in Hurun India Philanthropy List 2016:

·         Mukesh Ambani, donated INR 303 Cr towards healthcare. He channelizes his philanthropic initiative through Reliance foundation, his philanthropic arm. The primary aim of the foundation is to promote sustainable growth in India. Besides healthcare, his philanthropic interests include social & rural development and education.

·         Vaccine billionaire, Cyrus S Poonawalla, who set up Serum Institute has donated INR 250 Crores. The funds raised are used for his philanthropic work, including setting up educational institutes and hospitals. His vision “Health for all with affordable vaccines” is revolutionizing the world saving millions of children around the world.

·         Ajay Piramal donated INR 111 Crores through his philanthropic initiative through Piramal Foundation. It includes activities for education (PFEL), health care (Swasthya), water purification (Sarvajal), rural development (Udgam) and Women Empowerment (Piramal Udgam)

·         Rakesh Jhunjhunwala has pledged INR 5,000 Crore for the welfare of the society. He is often referred to as the India’s Warren Buffet. A big supporter of various Non-Profit organizations and education trusts including Agastya and Ashoka University.

·         An Indian diamantaire and philanthropic social activist, Laljibhai Patel, has pledged a donation of INR 200 Crore for the welfare of 10,000 girls of the Patidar community. He said an amount of INR 2 Lakh would be transferred to the second daughter born in the Patidar community when they would attain 21 years of age.


Table 10: Hurun India Rich List 2017 – Self-Made Degree 

Self-Made Degree No Of Individuals Richest Individual Company Age Wealth INR Cr.
5 41 Shiv   Nadar HCL 72 85,100
4 267 Dilip   Shanghvi Sun   Pharma 61 89,000
3 286 Mukesh   Ambani Reliance 60 257,900
2 10 Anil   Ambani ADA   Reliance 58 26,800
1 13 Savitri   Jindal & Family JSW Steel 67 46,500

       Source: Hurun Research Institute. For more details visit


Hurun Report continued its Self-Made Scorecard, measuring the degree to which billionaires are inherited or self-made. The scorecard is out of five, where 1 is inherited and not active in business, and 5 is self-made without help from parents.


Self-made with a little help from parents was the most common route to becoming a billionaire, featuring 51% of the list.  Second was self-made without help from parents, making up 9% of the list. Third was inheriting a business and growing it into a much bigger entity, with 38% and only one person was Self-Made Degree 1.


Entrepreneurs appreciated by the government of India


40 are Padma awardees, of which four are women. BVR Mohan Reddy of Cyient has awarded Padma Shri in 2017.


There is no one in Hurun India Rich List 2016 who has received the highest civilian award, “Bharat Ratna”. 7 individuals hold either of the two awards. For instance Kiran Mazumdar Shaw of Biocon and Devi Prasad Shetty of Narayana Hrudayalaya holds both Padma Shri and Padma Bhushan. Pratap reddy of Apollo Hospitals and Ratan Tata of Tata Sons holds both Padma Vibhushan and Padma Bhushan.


Table 11: Hurun India Rich List 2017 – Padma awardees

Award Number Richest  Company Wealth (INR Cr.)
1 Padma Vibhushan 6 LN Mittal ArcelorMittal 88,200
2 Padma Bhushan 19 Azim Premji Wipro 79,300
3 Padma Shri 22 Dilip Shanghvi Sun Pharma 89,000

Source: Hurun Research Institute. For more details visit


Table 11.1: Hurun India Rich List 2017 – Padma awardee details


Padma Award Name Company Year

Vibhushan   & Bhushan

Prathap   Reddy Apollo   Hospitals 2010/1991
Ratan   Tata Tata   Sons 2008/2000
Azim   Premji Wipro 2005/2011
Vibhushan   & Shri NR   Narayana Murthy Infosys 2000/2008
Vibhushan LN   Mittal ArcelorMittal 2008
Prithvi   Raj Singh Oberoi East   India Hotels 2008

Bhushan   & Shri

Kiran   Mazumdar-Shaw Biocon 2005/1989
Naresh   Trehan Medicity 1991/2001
Devi   Prasad Shetty Narayana   Hrudayalaya 2012/2004










Azim   Premji Wipro 2011
Shiv   Nadar HCL 2008
Sunil   Mittal Bharti   Airtel 2007
Indu   Jain Bennett   Coleman 2016
Kushal   Pal Singh DLF 2010
Rahul   Bajaj Bajaj   Auto 2001
Adi   Godrej Godrej 2013
Jamshyd   Godrej Godrej 2003
Baba   Kalyani Bharat   Forge 2008
Yusuf   Hamied* Cipla 2005
S   Gopalakrishnan Infosys 2011
Analjit   Singh Max   India 2011
Nandan   Nilekani Infosys 2006
Swraj   Paul Caparo   Group 1983








Dilip   Shanghvi Sun   Pharma 2016
Cyrus   S Poonawalla Serum 2005
Yusuffali   MA Emke 2008
Ravi   Pillai RP 2010
Sunny   Varkey Gems   Education 2009
Mallika   Srinivasan TAFE 2014
BR   Shetty UAE   Exchange 2009
Karsanbhai Patel Nirma 2010
Azad   Moopen DM   Healthcare 2011
Anu   Aga Thermax 2010
Jawaharlal   Gangaramani Al   Fara 2010
Naresh   Trehan Medanta   Medicity 1991
Shobhana   Bhartia Hindustan   Times 2005
Arvind   Lal Dr.   Lal PathLabs 2009
Rajinder   Gupta TridentGroup 2007
Irshad   Mirza Mirza   International 2010
AVS   Raju Nagarjuna   Construction 2010
DVS   Raju Gangavaram   Port 2001

Source: Hurun Research Institute. For more details visit


Largest public traded companies


Of the publicly traded companies on the list, Mukesh Ambani’s Reliance has the highest valuation of INR 524,780 Cr (contributing 5.35% to the NIFTY index), followed by Tata Consultancy Services (owned by the Tata family) with INR 477,343 Cr and Infosys INR 232,290 Cr. Kotak Mahindra & Bharti Airtel with market cap of INR 194,110 and INR 167,011 Cr respectively.


Fortune 500: In addition to Reliance and Tata Motors, Rajesh Exports, the flagship company of Rajesh Mehta, is the only other private company in India to feature in Fortune 500.


This year’s Hurun India Rich List reveals some interesting nuggets of information


·         Anand Mahindra (62) of M&M invested INR  100,000 in Kotak Group in November 1985, is now worth INR 1,400 crore – a compounded growth rate of 40 per cent over the past 32 years

·         Kishore Biyani has co-authored one of the most popular business books in India till date. He co-authored this book which has sold more than 100,000 copies.

·         The new top 10 entrant Acharya Balkrishna of Patanjali Ayurved has published 41 research papers on Yoga and Ayurveda. His work station doesn’t have a computer

·         B.R. Shetty will invest INR 1,000 crore to produce the costliest ever Indian film titled The Mahabharata, most expensive non English language film.

·         As a 16-year-old high school student in 1998, Divyank Turakhia founded with a US$600 investment. He became a millionaire at 18 and its valuation cross US$100 mn when he was 23.

Table 12: Money in Sports!

Name Indian Premier League Team Name Indian Super League Team
Mukesh Ambani Mumbai Indians Sanjiv Goenka Atlético de Kolkata
G M Rao Delhi Daredevils JSW Group Bengaluru FC
Kalanithi Maran Sunrisers Hyderabad Venugopal Dhoot FC Goa
N Srinivasan Chennai Super Kings Kapil Wadhawan FC Pune City
Burman Family Kings XI Punjab Dheeraj Wadhawan FC Pune City
Ness Wadia Kings XI Punjab
Karan Paul Kings XI Punjab

Source: Hurun Research Institute. For more details visit

Apart from those mentioned above, Hurun India Rich Listers have interest in other professional leagues such as Pro Kabaddi League and English Premier League. For Instance GM Rao owns UP Yodhas and Gautham Adani Owns Gujarat Fortune Giants in Pro Kabaddi League. Anuradha Jitendra Desai of Venky’s owns Blackburn Rovers F.C. and LN Mittal owns Queens Park Rangers F.C. in English Premier League.


Table 13: The Obituary – Hurun Indian Rich List 2017


Name Company Age at the time of death Networth 2016    (INR Crore)
Desh   Bandhu Gupta Lupin 78 25,300
Ramesh   Agarwal DB Corp 71 5,300
Amarchand   Ramji Gala Navneet Education 85 2,500
Ramasubrahmaneya   Rajha Ramco Cements 80 2,600

Source: Hurun Research Institute. For more details visit

Wealth of Ramesh Agarwal was inherited equally to his sons Pawan Agarwal, Girish Agarwal and Sudhir Agarwal.

Stats: Record Highs

·         Cut-off to make the list was INR 1000 Cr, with a record high of 617 individuals, up from 278 last year and 66 the year before.

·         The number of dollar billionaires has jumped to a record high too, with 136 individuals, up 10 from last year.

Table 14: Table analyzing the cut off and the number of entrepreneurs in Hurun India Rich List


Year Cut-off


No. of people

in the list

No. of
$ billionaires
2012 1600 100 59
2013 1800 141 63
2014 1800 230 109
2015 1600 296 124
2016 1600 339 126
2017 1600 426 136
2017 1000 617 136

Source: Hurun Research Institute. For more details visit

Cut-off (in INR Cr)

Table 15: Table analyses the cut-off required for Top 10, 50 and 100

2017 INR Cr 2016 INR Cr 2015 INR Cr 2014 INR Cr 2013   INR Cr
Top 10 56,500 50,400 47,000 44,000 46,600
Top 50 17,600 14,900 15,100 11,500 7,600
Top 100 8,400 7,600 7,900 6,500 3,800

Source: Hurun Research Institute. For more details visit


Table 16: Companies that produced the highest number of individuals on the list


Company Name No. of individuals
Avenue   Supermarts 9
Macleods   Pharmaceuticals 7
Infosys 7
Amalgamation  Group 6
Dabur 6

     Source: Hurun Research Institute. For more details visit



Table 17: Key Star Signs in Hurun India Rich List 2017


Rank Birth Month Total contribution to the list% Richest person Wealth INR Cr
1 Capricorn 9.9% Smitha V Crishna 37,800
2 Taurus 9.7% Cyrus S Poonawalla 71,000
3 Cancer 9.4% Shiv Nadar 85,100
4 Scorpio 8.9% Yusuffali MA 31,900
4 Aries 8.9% Mukesh Ambani 257,900
6 Leo 8.7% Azim Premji 79,300
7 Pisces 8.0% Uday Kotak 62,700
7 Libra 8.0% Dilip Shanghvi 89,000
9 Virgo 7.8% Shapoor Pallonji   Mistry 49,300
10 Gemini 7.7% LN Mittal 88,200
11 Sagittarius 6.6% Subhash Chandra 32,800
12 Aquarius 6.4% Vikram Lal 42,200

Source: Hurun Research Institute. For more details visit


Social Media: Acharya Balkrishna is not only an expert in creating wealth but also the master of social media. He is the most followed entrepreneur in Facebook with 5 million followers. A snapshot of some of the social media following of the entrepreneurs below


Table 18: Social Media Followers of Hurun India Rich List 2017


Name Number of Followers Facebook/ Twitter
Acharya   BalKrishna 56   lakhs Facebook
Anand   Mahindra 53   lakhs Twitter
Nandan   Nilekani 22   lakhs Twitter
Harsha   Goenka 12.6   lakhs Twitter
Kiran   Mazumdar Shaw 12.4   lakhs Twitter
Uday   Kotak 7.5   lakhs Twitter
Harsh   Mariwala 7.2   lakhs Twitter
Subash   Chandra 7   lakhs Twitter
Yusuffali   MA 6.5   lakhs Facebook
Vijay   Shekhar Sharma 2.1   lakhs Twitter


Source: Hurun Research Institute. For more details visit





The Hurun India Rich List is a snapshot of wealth as on 31 July 2017. The exchange rate used for US$ was INR 64.1.  The list relates to Indians only, defined as born or brought up in India origin their passport today.


Valuing the wealth of India’s richest is as much an art as it is a science.  Sure, we have missed some, but we believe the Hurun India Rich List to be the most serious attempt to identify India’s top entrepreneurs and to measure their holdings.  Our team of researchers has – for the sixth year running – traveled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, we have used First Chicago Method for valuation.


This year, we have split out siblings, so companies like Muthoot Finance have been split across four individuals.




Hurun India Rich List 2017 – Top 100


Rank Change Name Wealth
% change Company Industry Age Selfmade   Score
1 0 Mukesh   Ambani 257,900 58% Reliance Oil   & Gas 60 Mumbai 3
2 0 Dilip   Shanghvi 89,000 -27% Sun   Pharma Pharmaceuticals 61 Mumbai 4
3 5 LN   Mittal 88,200 32% ArcelorMittal Metals   & Mining 67 London 3
4 3 Shiv   Nadar 85,100 16% HCL Software   & Services 72 New   Delhi 5
5 1 Azim   Premji 79,300 6% Wipro Software   & Services 72 Bengaluru 3
6 -1 Cyrus   S Poonawalla 71,100 -9% Serum   Institute of India Pharmaceuticals 76 Pune 5
7 5 Gautam   Adani 70,600 66% Adani   Enterprises Diversified 55 Ahmedabad 5
8 17 Acharya   Balkrishna 70,000 173% Patanjali   Ayurved FMCG 45 Haridwar 4
9 0 Uday   Kotak 62,700 21% Kotak   Mahindra Financial   Services 58 Mumbai 5
10 0 Sunil   Mittal & Family 56,500 12% Bharti   Airtel Telecom   Services 59 New   Delhi 5
11 0 Kumar   Mangalam Birla 51,700 13% Aditya   Birla Diversified 50 Mumbai 3
12 New Cyrus   Pallonji Mistry 49,300 New Tata   Sons Diversified 49 Mumbai 3
12 New Shapoor   Pallonji Mistry 49,300 New Tata   Sons Diversified 52 Monaco 3
14 4 Savitri   Jindal & Family 46,500 33% JSW   Steel Metals   & Mining 67 Hisar 1
15 0 Benu   Gopal Bangur 44,600 14% Shree   Cements Construction   Materials 83 Kolkata 3
16 5 Pankaj   Patel 44,500 43% Cadila Pharmaceuticals 64 Ahmedabad 3
17 3 Vikram   Lal 44,200 30% Eicher   Motors Automobiles   & Auto Components 75 New   Delhi 3
18 12 Rahul   Bajaj 43,900 112% Bajaj   Auto Automobiles   & Auto Components 78 Pune 3
19 30 Ajay   Piramal 42,900 186% Piramal   Enterprise Investments 67 Mumbai 3
20 23 Rishad   Naoroji 37,800 140% Godrej Consumer   Durables 65 Mumbai 1
20 23 Nadir   Godrej 37,800 140% Godrej Consumer   Durables 65 Mumbai 3
20 23 Smitha   V Crishna 37,800 140% Godrej Consumer   Durables 66 Mumbai 3
20 23 Jamshyd   Godrej 37,800 140% Godrej Consumer   Durables 68 Mumbai 3
20 23 Adi   Godrej 37,800 140% Godrej Consumer   Durables 75 Mumbai 3
25 -6 Micky   Jagtiani 34,700 1% Landmark Retailing 65 Dubai 5
26 -9 Subhash   Chandra 32,800 -7% Zee Media 65 Mumbai 4
27 4 Nusli   Wadia 32,500 59% Britannia FMCG 73 Mumbai 3
28 -12 Yusuffali   MA 31,900 -13% Emke Retailing 61 Abu   Dhabi 5
29 -5 Indu   Jain 30,300 8% Bennett   Coleman Media 80 New   Delhi 3
30 77 Radhakishan   Damani 29,700 Split Avenue   Supermarts Retailing 62 Mumbai 5
31 1 Harsh   Mariwala 28,000 43% Marico FMCG 66 Mumbai 3
32 -3 Kushal   Pal Singh 27,400 18% DLF Realty 86 New   Delhi 3
33 2 Vivek   Chaand Sehgal 27,000 43% Motherson   Sumi System Automobiles   & Auto Components 60 Melbourne 3
34 -12 Anil   Ambani 26,800 -6% ADA   Reliance Diversified 58 Mumbai 2
35 -7 Ashwin   Dani 25,900 4% Asian   Paints Chemicals   & Petrochemicals 74 Mumbai 3
36 6 Kalanithi   Maran 25,100 64% Sun   Network Media 52 Chennai 4
37 -33 SP   Hinduja 24,300 Split Hinduja   Group Diversified 81 London 3
37 New GP   Hinduja 24,300 New Hinduja   Group Diversified 77 London 3
37 New PP   Hinduja 24,300 New Hinduja   Group Diversified 72 Geneva 3
37 New AP   Hinduja 24,300 New Hinduja   Group Diversified 67 Mumbai 3
41 -7 Vijay   Chauhan & Family 22,800 19% Parle   Products FMCG 80 Mumbai 3
42 26 B   Parthasaradhi Reddy 20,600 Split Hetero   group of companies Pharmaceuticals 63 Hyderabad 4
43 31 Sameer   Gehlaut 20,100 91% Indiabulls   Financial Services Financial   Services 43 Mumbai 4
44 -4 Rajan   Raheja 19,300 14% Exide   Industries Automobiles   & Auto Components 64 Mumbai 4
45 -6 Abhay   Vakil 19,100 9% Asian   Paints Chemicals   & Petrochemicals 66 Mumbai 3
45 -8 Ashwin   Choksi 19,100 4% Asian   Paints Chemicals   & Petrochemicals 74 Mumbai 3
47 18 Mangal   Prabhat Lodha 18,500 35% Lodha Realty 61 Mumbai 4
48 6 Rahul   Bhatia 18,200 37% Interglobe   Aviation Transportation 57 New   Delhi 4
49 4 Sunny   Varkey 17,900 25% Gems   Education Others 60 Dubai 4
50 33 Jithendra   Virwani 17,600 99% Embassy   Property Developments Realty 51 Bengaluru 4
51 4 Anil   Agarwal 17,300 26% Vedanta   Resource Metals   & Mining 64 London 4
51 22 BR   Shetty 17,300 57% NMC Healthcare 75 Abu   Dhabi 4
53 105 Kishore   Biyani 17,200 259% Future   Group Retailing 57 Mumbai 4
54 -6 Hasmukh   Chudgar & Family 16,800 11% Intas   Pharma Pharmaceuticals 84 Ahmedabad 4
55 -14 Rakesh   Gangwal 16,100 1% Interglobe   Aviation Transportation 64 Mclean 4
56 86 Adani   Vinodbhai Shantilal 15,700 200% Adani   Enterprises Diversified Dubai 4
57 -24 PV   Ramaprasad Reddy 15,600 -19% Aurobindo   Pharma Pharmaceuticals 59 Hyderabad 4
58 12 Kiran   Mazumdar-Shaw 15,400 43% Biocon Pharmaceuticals 64 Bengaluru 4
59 -46 Anand   Burman 14,500 Split Dabur FMCG 65 New   Delhi 3
60 -10 Chandru   Raheja 13,900 -10% Shoppers   Stop Retailing 76 Mumbai 4
61 -23 Ravi   Pillai 13,600 -28% RP Construction   & Engineering 63 Dubai 5
62 0 Prakash   Lohia 12,500 3% Indorama Chemicals   & Petrochemicals 64 London 3
63 -4 Samir   Mehta 12,400 3% Torrent   Pharma Pharmaceuticals 53 Ahmedabad 3
63 -4 Sudhir   Mehta 12,400 3% Torrent   Pharma Pharmaceuticals 63 Ahmedabad 3
65 -4 Baba   Kalyani 12,000 0% Bharat   Forge Diversified 68 Pune 3
65 2 Aloke   Lohia 12,000 3% Indorama Chemicals   & Petrochemicals 58 Bangkok 4
65 -1 Feroz   Allana 12,000 2% IFFCO Trading Sharjah 5
68 -32 Romesh   T Wadhwani 11,800 -39% Symphony   Technology Investments 69 Palo   Alto 4
69 7 Rakesh   Jhunjhunwala 11,700 12% Rare   Enterprises Investments 57 Mumbai 5
70 New Divyank   Turakhia 11,500 New Media.Net Software   & Services 35 Dubai 4
70 142 Anurang   Jain & family 11,500 286% Endurance   Technologies Automobiles   & Auto Components 55 Aurangabad 3
72 25 Rajju   Shroff 11,400 49% United   Phosphorus Chemicals   & Petrochemicals 83 Mumbai 5
73 -17 Kavitark   Ram Shriram 11,200 -14% Google Software   & Services 60 Menlo   Park 4
74 New Shamsheer   Vayalil 11,100 New VPS   Healthcare Healthcare 40 Abu   Dhabi 4
75 -4 Radhe   Shyam Goenka 10,600 -1% Emami FMCG 70 Kolkata 4
75 -4 Radhe   Shyam Agarwal 10,600 -1% Emami FMCG 71 Kolkata 4
77 -19 Glenn   Saldanha & Family 10,500 -16% Glenmark  Pharma Pharmaceuticals 47 Mumbai 3
78 -9 Yusuf   Hamied 10,300 -6% Cipla Pharmaceuticals 81 Mumbai 3
79 15 Vikas   Oberoi 10,100 30% Oberoi   Realty Realty 47 Mumbai 3
80 89 Dinesh   Nandwana 10,000 125% Vakranjee   Software Software   & Services 54 Mumbai 4
81 18 Manoj   Bhargava 9,900 28% 5   Hour Energy FMCG 63 Farmington   Hills 4
81 -2 Gurbachan   Singh Dhingra 9,900 4% Berger   Paints Chemicals   & Petrochemicals 67 New   Delhi 3
81 -2 Kuldip   Singh Dhingra 9,900 4% Berger   Paints Chemicals   & Petrochemicals 69 New   Delhi 3
81 -3 Tony  Jashanmal 9,900 -3% Jashanmal Retailing 70 Dubai 3
85 -19 Vinod   Khosla 9,800 -14% Khosla   Ventures Investments 62 Portola   Valley 4
86 33 Rana   Kapoor 9,500 44% Yes   Bank Financial   Services 59 Mumbai 4
87 -10 Balkrishan   Goenka 9,400 -6% Welspun   Corp Capital   Goods 51 Mumbai 4
88 New B   Vamsi Krishna 9,200 New Hetero   group Pharmaceuticals 34 Hyderabad 3
89 25 Harsh   Goenka 9,100 34% RPG   Enterprises Diversified 59 Mumbai 3
89 38 VC   Nannapaneni 9,100 50% Natco   Pharma Pharmaceuticals 71 Hyderabad 4
91 14 Vijay   Shekhar Sharma 9,000 22% Paytm Software   & Services 39 New   Delhi 4
91 New Leena   Gandhi Tewari 9,000 New USV Pharmaceuticals 60 Mumbai 3
91 29 Bhadresh   Shah 9,000 36% AIA   Engineering Construction   & Engineering 65 Ahmedabad 4
94 74 Rajiv   Poddar 8,900 98% Balkrishna Automobiles   & Auto Components 32 Mumbai 3
94 9 Prithviraj   Kothari 8,900 20% RSBL Jewellery 57 Mumbai 4
96 New Gopikishan   Damani 8,700 New Avenue   Supermarts Retailing 60 Mumbai 4
97 64 P   Pitchi Reddy 8,500 80% MEIL Construction   & Engineering 59 Hyderabad 4
98 -6 Karsanbhai   Patel 8,400 7% Nirma FMCG 73 Ahmedabad 5
98 31 Ranjan   Pai 8,400 43% Manipal   Education & Medical Others 44 Bengaluru 3
98 30 Anand   Mahindra 8,400 42% M&M Automobiles   & Auto Components 62 Mumbai 3

 *Wealth reduced due to ownership split




The Hurun Report                                                   


Hurun Report is a leading luxury publishing and events group established in London in 1998 and strongly present in China and India, widely recognised world over for its comprehensive evaluation of the world’s wealthiest individuals across the globe.


Hurun Report India commenced its operations in 2012 and has been bringing to light stories of successful and emerging Indian entrepreneurs ever since and felicitating them at a bouquet of Hurun events hosted pan India.


Hurun Report Inc. has three main platforms: Hurun Research Institute, Hurun Digital Media and Hurun Conferences and Luxury Summits. Through each platform, Hurun targets entrepreneurs and high net worth individuals.


Hurun Report India’s flagship properties include the India Rich List, the ground-breaking India Philanthropy list and the Hurun Global Rich List. A testament to the comprehensive nature of our list is the presence and association of numerous billionaires in each of our events in UK, China and as well as India – Sir Richard Charles Nicholas Branson, Mr. Wang Jianlin, Mr. Jack Ma (AliBaba), Mr. Lei Jun (Xiaomi), Mr. Li Yanhong (Baidu), Dr. Cyrus Poonawalla, Mr. Samprada Singh, Mr. Adi Godrej, Mr. Kuldip Singh Dhingra, Mr. Anand Burman, Mr. Kris Gopalakrishnan, Mr. Rajesh Mehta, Mr. Yusuff Ali, Mr. Kochouseph Chittilappilly, Mr. Joy Alukkas, Mr. T.S. Kalyanaraman and Mr. C.V. Jacob to name a few.



A graduate from University of Oxford, Anas Rahman Junaid is the Managing Director and Chief Researcher for Hurun Report India and the Global Rich List. Anas’ passion and expertise are in tracking and highlighting the success stories of various entrepreneurs across the world. A major in Corporate Valuation, Anas has strong expertise in valuating companies ranging from start-ups to multi-billion dollar enterprises. Anas is a KPMG alumnus. His renewed vision is to connect Indian and Chinese entrepreneurs and to explore opportunities to collaborate. With a strong network with the UHNIs in India, he hopes to promote and explore luxury, art and investments.



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