Adani replaces Ambani to become wealthiest Indian with a networth of Rs 11.6 lakh cr

PTI, Aug 29, 2024, 2:51 PM IST

Recouping the dent caused by the Hindenburg Research report, Gautam Adani’s networth shot up 95 per cent to Rs 11.6 lakh crore last year, which helped him replace Mukesh Ambani to become the richest Indian, a report said on Thursday.

Reliance Industries Chairman and Managing Director Ambani’s overall networth increased by 25 per cent to Rs 10.14 lakh crore, as per the 2024 Hurun India Rich List.

In 2023’s report, Adani’s wealth declined by 57 per cent to Rs 4.74 lakh crore, and Ambani was way ahead with a fortune of Rs 8.08 lakh crore.

It can be noted that Adani’s networth declined sharply following various allegations levelled by US-based short seller Hindenburg Research. The conglomerate has denied all the allegations.

In the 2014 edition, Hurun had pegged Adani’s fortunes at Rs 44,000 crore, which made him the tenth richest Indian then.

Shiv Nadar and family of HCL gained one spot to be the third richest with a networth of Rs 3.14 lakh crore, while Serum Institute of India’s Cyrus Poonawalla slipped by one notch to the fourth position with a networth of Rs 2.89 lakh crore in 2024.

Sun Pharmaceuticals’ Dilip Shanghvi continued his ascent on the list, securing the fifth richest tag against sixth last year with a networth of Rs 2.50 lakh crore.

Radha Vembu of Zoho was the wealthiest among self-made women with a fortune of Rs 47,500 crore, while Zepto’s co-founders Kaivalya Vohra and Aadit Palicha, who are in their early 20s, were the youngest on the list with a networth of Rs 3,600 crore and Rs 4,300 crore, respectively.

The list, which captures Indians having a networth of over Rs 1,000 crore, grew by 220 individuals to 1,539 people in 2024. The cumulative wealth has seen a 46 per cent jump in the year.

Actor Shah Rukh Khan made his debut on the list with a fortune estimated at Rs 7,300 crore, which was much higher than business partner Juhi Chawla with Rs 4,600 crore networth secured second place among the entertainers.

Interestingly, 16 professionals also made it to the list with Arista Networks’ chief executive Jayshree Ullal being the wealthiest at Rs 32,100 crore and followed by D-mart chief executive Ignatius Navil Noronha at Rs 6,900 crore, according to the list.

Gera Developments’ Kumar Pritamdas Gera’s wealth grew the fastest at 566 per cent in the 2024 list, while Ambani and Adani had the biggest growth by quantum, the list said.