Wealth in India has always been a topic of fascination and study. The FORBES list of the richest people in India for 2024 provides a glimpse into the financial powerhouses shaping the nation’s economy. This list is a testament to the diverse sectors driving India’s growth, from industrial magnates to tech innovators.
🔰Also Read: Richest Man in the World Today: Complete Details, Forbes Report
India’s Top 50 Richest People, FORBES 2024 List
| Rank | Name | Net Worth | Age | Origin of Wealth |
|---|---|---|---|---|
| 1 | Mukesh Ambani | $92 B | 67 | Diversified |
| 2 | Gautam Adani | $68 B | 62 | Commodities, Infrastructure |
| 3 | Shiv Nadar | $29.3 B | 79 | Software Services |
| 4 | Savitri Jindal | $24 B | 74 | Steel |
| 5 | Radhakishan Damani | $23 B | 69 | Retail, Investments |
| 6 | Cyrus Poonawalla | $20.7 B | 83 | Vaccines |
| 7 | Hinduja Family | $20 B | – | Diversified |
| 8 | Dilip Shanghvi | $19 B | 68 | Pharmaceuticals |
| 9 | Kumar Birla | $17.5 B | 57 | Commodities |
| 10 | Shapoor Mistry | $16.9 B | 59 | Diversified |
| 11 | Sunil Mittal | $16.8 B | 66 | Telecom |
| 12 | Godrej Family | $16.7 B | – | Consumer Goods, Real Estate |
| 13 | Lakshmi Mittal | $15.9 B | 74 | Steel |
| 14 | Bajaj Family | $15 B | – | Diversified |
| 15 | Uday Kotak | $13.4 B | 65 | Banking |
| 16 | Kushal Pal Singh | $11.9 B | 92 | Real Estate |
| 17 | Azim Premji | $11.6 B | 79 | Software Services |
| 18 | Ravi Jaipuria | $11.5 B | 69 | Soft Drinks, Fast Food |
| 19 | Madhukar Parekh | $11.1 B | 78 | Adhesives |
| 20 | Burman Family | $8.9 B | – | Consumer Goods |
| 21 | Kuldip Singh & Gurbachan Singh Dhingra | $8.2 B | – | Paints |
| 22 | Dani Family | $8 B | – | Paints |
| 23 | Sudhir & Samir Mehta | $7.9 B | – | Pharmaceuticals, Power |
| 24 | Hasmukh Chudgar | $7.7 B | 90 | Pharmaceuticals |
| 25 | Murugappa Family | $7.3 B | – | Diversified |
| 26 | Benu Gopal Bangur | $7.2 B | 93 | Cement |
| 27 | M.A. Yusuff Ali | $7.1 B | 68 | Retail |
| 28 | Rekha Jhunjhunwala | $7 B | 60 | Investments |
| 29 | Ramesh and Rajeev Juneja | $6.9 B | – | Pharmaceuticals |
| 30 | Vinod and Anil Rai Gupta | $6.7 B | – | Electrical Equipment |
| 31 | Mangal Prabhat Lodha | $6.6 B | 68 | Real Estate |
| 32 | Inder Jaisinghani | $6.4 B | 71 | Cables & Wires |
| 33 | Murali Divi | $6.3 B | 73 | Pharmaceuticals |
| 34 | Mahendra Choksi | $6.2 B | 83 | Paints |
| 35 | Vikram Lal | $6.1 B | 82 | Motorcycles |
| 36 | Pankaj Patel | $6 B | 71 | Pharmaceuticals |
| 37 | Harsh Mariwala | $5.9 B | 73 | Consumer Goods |
| 38 | Girdhari Lal Bawri, Rajendra Agarwal and Banwari Lal Bawri | $5.85 B | – | Pharmaceuticals |
| 39 | Kapil & Rahul Bhatia | $5.8 B | – | Airlines |
| 40 | Nithin and Nikhil Kamath | $5.5 B | – | Financial Services |
| 41 | Vakil Family | $5.3 B | – | Paints |
| 42 | Vijay Chauhan | $5 B | 88 | Biscuits |
| 43 | Muthoot Family | $4.9 B | – | Financial Services |
| 44 | Renuka Jagtiani | $4.8 B | 70 | Retail |
| 45 | Leena Tewari | $4.75 B | 66 | Pharmaceuticals |
| 46 | Sridhar Vembu & Siblings | $4.7 B | 56 | Business Software |
| 47 | Singh Family | $4.6 B | – | Pharmaceuticals |
| 48 | N.R. Narayana Murthy | $4.5 B | 77 | Software Services |
| 49 | Chandru Raheja | $4.45 B | 83 | Real Estate |
| 50 | Joy Alukkas | $4.4 B | 67 | Jewelry |
Brief Details About Some of the Wealthiest Individuals
1. Mukesh Ambani
Net Worth
Mukesh Ambani, the chairman of Reliance Industries, continues to dominate the list with an estimated net worth of $92 billion. His wealth stems from his extensive ventures in petrochemicals, telecom, and retail.
Business Ventures
Reliance Industries is a behemoth in the petrochemical sector, but Ambani’s significant foray into telecommunications with Jio has revolutionized the industry. Additionally, Reliance Retail is one of the largest and most profitable retail businesses in India.
Philanthropy
Ambani’s philanthropic efforts through the Reliance Foundation focus on education, healthcare, and rural development, reflecting his commitment to giving back to society.
2. Gautam Adani
Net Worth
Gautam Adani, the chairman of the Adani Group, has a net worth estimated at $68 billion. His wealth has seen a meteoric rise due to strategic expansions in various sectors.
Business Ventures
The Adani Group has a diverse portfolio, including infrastructure, power generation, and agriculture. Adani’s recent investments in renewable energy have positioned his group as a global leader in sustainability.
Recent Developments
Adani’s acquisition of Holcim’s Indian assets and his entry into the cement industry mark significant milestones. His aggressive expansion strategies continue to boost his wealth.
3. Shiv Nadar
Net Worth
Shiv Nadar, the founder of HCL Technologies, boasts a net worth of $29.3 billion. His pioneering efforts in the IT sector have made him one of India’s tech titans.
Business Ventures
HCL Technologies is a global IT services company that has consistently ranked among the top firms in the industry. Nadar’s vision and leadership have been pivotal in its success.
Contributions to Education
Through the Shiv Nadar Foundation, he has made substantial contributions to education, establishing institutions like the Shiv Nadar University and VidyaGyan schools.
4. Savitri Jindal
Net Worth
Savitri Jindal, chairperson of Jindal Steel and Power, has a net worth of $24 billion. Her influence in the steel industry is noteworthy.
Business Ventures
Jindal Steel and Power is a leading player in the steel sector, known for its innovative and sustainable practices.
Steel Industry Influence
Jindal’s leadership has driven the company’s growth and cemented its position as a key player in the global steel market.
5. Radhakishan Damani
Net Worth
Radhakishan Damani, the retail magnate behind DMart, has a net worth of $23 billion. His conservative and strategic approach has paid off handsomely.
Business Ventures
DMart’s success is attributed to its cost-effective business model and customer-centric approach. The chain has become a household name in India.
Expansion of DMart
Damani’s expansion strategy focuses on opening new stores in strategic locations, ensuring steady growth and market penetration.
6. Cyrus Poonawalla
Net Worth
Cyrus Poonawalla, the founder of Serum Institute of India, has a net worth of $20.7 billion. His contributions to healthcare are monumental.
Business Ventures
The Serum Institute is the world’s largest vaccine manufacturer by volume. Poonawalla’s foresight has positioned India as a global vaccine hub.
Role in Healthcare
Poonawalla’s efforts during the COVID-19 pandemic, including rapid vaccine production and distribution, have been widely recognized.
7. Hinduja family
Net Worth
As of 2024, the Hinduja family’s net worth is estimated to be around $20 billion. This substantial wealth is primarily derived from their diverse business interests across industries such as trucks, lubricants, banking, and cable television, managed under the Hinduja Group.
Overview of the Hinduja Group
The Hinduja family heads the multinational conglomerate, the Hinduja Group, which spans various industries, including trucks, lubricants, banking, and cable television.
Leadership Transition
Gopichand Hinduja, part of the second generation, assumed the role of chairman following the death of his elder brother, Srichand Hinduja, in May 2023.
Real Estate Holdings
The family owns significant real estate assets in London, such as the Raffles London hotel, located in the historic Old War Office building in Whitehall. This property made headlines with its grand opening in September 2023.
Family Residences
Gopichand resides in London, while his younger brother Prakash lives in Monaco. The youngest sibling, Ashok, manages their interests in India from Mumbai.
Legal Issues
In June 2024, a Swiss court convicted four family members of mistreating their household staff, resulting in prison sentences. The accused have denied these allegations and intend to appeal the verdict.
8. Dilip Shanghvi
Net Worth
Dilip Shanghvi, the founder of Sun Pharmaceuticals, has a net worth of $19 billion. His contributions to the pharmaceutical industry are significant.
Business Ventures
Sun Pharmaceuticals is one of the largest pharmaceutical companies in India, known for its high-quality and affordable medications.
Pharmaceutical Achievements
Shanghvi’s focus on research and development has led to numerous breakthroughs in medicine, enhancing global healthcare.
9. Kumar Birla
Net Worth
Kumar Birla, chairman of Aditya Birla Group, has a net worth of $15 billion. His business empire spans multiple industries.
Business Ventures
The Aditya Birla Group operates in sectors like cement, metals, textiles, and telecommunications, showcasing Birla’s diversified interests.
Diversification Strategy
Birla’s strategic diversification has ensured steady growth and resilience against market fluctuations.
10. Shapoor Mistry
Net Worth
As of 2024, Shapoor Mistry’s net worth is estimated to be around $16.9 billion. This wealth largely comes from his significant holdings in the Shapoorji Pallonji Group, as well as the family’s substantial 18.4% stake in Tata Sons, which is a major contributor to their overall financial standing.
The leadership of the Shapoorji Pallonji Group
Shapoor Mistry oversees the 158-year-old engineering and construction powerhouse, the Shapoorji Pallonji Group. He shares his wealth with the family of his late younger brother, Cyrus Mistry.
Major Assets
The family’s most significant asset is an 18.4% stake in Tata Sons, which is the holding company for the $150 billion Tata Group.
Personal Tragedy
In 2022, Mistry experienced profound personal losses. His father and family patriarch, Pallonji Mistry, passed away in June. Tragically, three months later, his younger brother Cyrus Mistry died in a car accident at the age of 54.
Restructuring Efforts
Before his death, Cyrus was collaborating with Shapoor to restructure their debt-laden family business, focusing on selling key assets to improve financial stability.
Conclusion
The wealth of India’s top billionaires reflects the country’s dynamic and rapidly evolving economy. These individuals have not only amassed significant fortunes but have also contributed to various sectors, driving innovation and growth. As we look to the future, the landscape of wealth in India is set to change, with new leaders emerging and existing ones continuing to expand their influence.
FAQs
Mukesh Ambani holds the title of the richest person in India in 2024, with an estimated net worth of $100 billion.
FORBES calculates net worth based on a combination of publicly available information, private disclosures, and market assessments of the individual’s assets and liabilities.
Most of the billionaires on the list belong to industries such as petrochemicals, IT, retail, telecommunications, and pharmaceuticals.
Wealth distribution in India has become more diverse, with significant growth in sectors like IT, telecommunications, and retail, reflecting the country’s evolving economic landscape.
These billionaires significantly impact the Indian economy by driving innovation, creating jobs, and contributing to various philanthropic causes, which collectively foster economic growth and social development.
Source: India’s 100 Richest People List (forbes.com)
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