Top Indian billionaires: 10 business titans

Mukesh Ambani (top, centre) of India’s Reliance Industries has topped the list of the richest people in subcontinent for the 10th straight year. Others on the list are Gautam Adani, Shiv Nadar, SP Hinduja, Cyrus Poonawalla and Laskshmi Mittal. The IIFL Wealth Hurun India Rich List 2021 reported that there are now 1,007 individuals with wealth estimated at over $130 million (Rs1,000 crore) across 119 cities. Following are the top guns:

1. MUKESH AMBANI, $93.3 billion: For the 10th year in a row, Indian industrialist Mukesh Ambani has kept the top post in India’s rich list, with an estimate net work of $96.6 billion (Rs7,18,000 crore), according to the 2021 report released recently by IIFL Wealth and Hurun India.

2. GAUTAM ADANI, $65.76 billion: Gautam Adani was the second-richest man in Asia and 13th-richest man in the world according to Forbes, a spot he attained in 2021. In the IIFL Wealth Hurun India Rich List 2021, also listed Adani on the second spot (net worth: Rs 5,05,900 crore). The Adani Group has a combined market capitalisation of Rs9 trillion (9 lakh crore); except for Adani Power, all listed companies under the group are valued at more than Rs1 trillion (1 lakh crore).

3. SHIV NADAR, $30.75 billion: Shiv Nadar, founder and chairman emeritus of HCL Technologies, retained his spot at No. 3. The Hurun rich list stated that though HCL had a “limited exposure” to COVID-hit sectors such as travel, retail, and hospitality, Nadar still saw a 67% increase in his wealth to Rs236,600 crore.

4. SP HINDUJA, $28.6 billion: Srichand Parmanand Hinduja and the family’s flagship companies such as Ashok Leyland and IndusInd Bank did pretty well in the past year, as share prices went up by 74% and 61%, respectively, according to Hurun report. The Hinduja family, however, slid two notches lower to the fourth rank on Hurun India Rich List 2021. “The brothers saw the valuation up by 53 per cent to INR 2,20,000 cr backed by the performance of their flagship companies such as Ashok Leyland and IndusInd Bank, . The Hinduja brothers are based between Mumbai, London, and Geneva.

5. LAKHSMI MITTAL, $22.67 billion: Indian steel magnate Lakshmi Mittal moved several notches higher to land at No. 5, with a wealth estiamted at of Rs1,74,400 crore. ArcelorMittal, the biggest steelmaker outside of China, recently reported its best-ever quarter since 2008, riding on the back of strong demand from the construction, infrastructure and renewable energy sectors.

6. CYRUS POONAWALLA, $21.28 billion: Cyrus S Poonawalla, managing director of vaccine-maker Serum Institute of India, bagged the sixth place. He has consistently landed on the Top 10 list. The IIFL Wealth and Hurun India report stated Poonawalla’s net worth increased by 74% (to Rs 1,63,700 Cr) as SII rolled out 600 million (60 crore) doses or 92% of the COVID-19 shots in India.

7. RADHAKISHAN DAMANI, $20.01 billion: The stock price of Avenue Supermarts jumped by more than 500% since its 2017 IPO. This brought Radhakishan Damani net worth to Rs1,54,300 crore, thus retaining the seventh spot in the IIFL Wealth Hurun India Rich List 2021.

8. VINOD SHANTILAL ADANI, $17.1 billion: Vinod Shantilal Adani moved up twelve places to land at eighth place on this year’s IIFL Wealth Hurun India Rich List. With a personal worth estimated at Rs 1,31,600 crore, Vinod manages trading businesses in several countries.

9. KM BIRLA, $15.8 billion: Aditya Birla Group’s Kumar Mangalam Birla has also made it to India's rich list for 2021 with a net worth of Rs1,22,200 cr. Over the past year, Aditya Birla Group reported a 84% jump in the combined market capitalisation as the group’s various components saw strong demand.

10. JAY CHAUDHRY, $14.9 billion: The founder of the cloud security company Zscaler secured the 10th spot on the latest Hurun list. The Indian Institute of Technology (IIT) alumnus founded the cyber security firm in 2007. He currently owns 42% of the firm Nasdaq-listed firm, which has market cap of $36.5 billion (about Rs 2,81,000 Cr).