India's 100 Richest Tycoons Surpass $1 Trillion Milestone
According to the latest Forbes report, the combined wealth of India's 100 richest tycoons has crossed $1 trillion for the first time. The wealthiest Indians together are now worth $1.1 trillion, more than double what they were in 2019. At the same time, over 80 percent of India's richest people saw their fortunes increase in the past year.
Gautam Adani, who benefitted from a sharp rebound from last year's short-selling onslaught, retained the No. 2 spot by adding $48 billion to the family's fortune. With his brother Vinod Adani, the infrastructure tycoon now boasts a combined fortune of $116 billion. Adani recently promoted sons and nephews to key leadership positions within the company, cementing his business empire in yet more ways.
India's top 100 billionaires added $316 billion, almost a 40 percent rise from last year alone, as investor confidence grew in the nation's growth under Prime Minister Narendra Modi's leadership during his third term.
Savitri Jindal chairs OP Jindal Group, which in its erstwhile incarnation as Oneco, was a steel-to-power conglomerate. She has pushed the group into electric vehicles through a bold tie-up with MG Motor, driven by her son Sajjan Jindal. Nine women have made it to the total list-from eight last year.
New entrants on Forbes list are Mahima Datla, controlling vaccine maker Biological E., B. Partha Saradhi Reddy of Hetero Labs, Shahi Exports's Harish Ahuja, and Premier Energies's chairman Surender Saluja.
Dilip Shanghvi is the Founder of Sun Pharmaceutical Industries, a pharmaceutical tycoon with a net worth of $32.4 billion, sending him into fifth place. Siblings Sudhir and Samir Mehta's wealth more than doubled to $16.3 billion as their Torrent Group saw significant gains in the list.
Of course, more notable inclusions in the list would be the Godrejs, who continue to run and hold sway over India's corporate landscape, and Nikhil Kamath, Co-Founder of the online brokerage Zerodha, at 38, one of the youngest billionaires.