Adani’s net worth up 95% in year, replaces Ambani as richest Indian

Chandigarh/New Delhi, August 29

Despite the negative publicity surrounding Hindenburg Research, Gautam Adani and his family’s net worth surged by 95 per cent to Rs 11.6 lakh crore last year, allowing him to surpass Mukesh Ambani as the richest Indian, according to the ‘2024 Hurun India Rich List’ released on Thursday.

Adani’s net worth had declined sharply following various allegations levelled by US-based short seller Hindenburg. The Adani group had denied the allegations as “baseless”.

Reliance Industries chairman and managing director Mukesh Ambani now holds the second position with a fortune of Rs 10.14 lakh crore. The Hurun report highlighted a significant increase in wealth among India’s elite. For the first time, the list surpassed the 1,500 mark, featuring 1,539 Indians with a net worth of over Rs 1,000 crore each. It’s an increase of 220 compared to last year.

Shiv Nadar and family of HCL gained one spot to be the third richest with a net worth of Rs 3.14 lakh crore, while Serum Institute of India’s Cyrus Poonawalla and family slipped by one notch to the fourth position with a net worth of Rs 2.89 lakh crore in 2024. Dilip Shanghvi of Sun Pharmaceutical secured the fifth slot against sixth last year with a worth of Rs 2.5 lakh crore.

Over the past five years, six individuals have consistently remained on India’s top-10 rich list: Gautam Adani and family, Mukesh Ambani and family, Shiv Nadar, Cyrus S Poonawalla and family, Gopichand Hinduja and family and Radhakishan Damani and family.

Actor Shah Rukh Khan made his debut on the list with a fortune estimated at Rs 7,300 crore. Radha Vembu of Zoho is the wealthiest among self-made women with a fortune of Rs 47,500 crore. The youngest billionaire on this year’s list is 21-year-old Kaivalya Vohra, co-founder of Zepto, a $5 billion quick commerce startup. Aadit Palicha, his 22-year-old co-founder, is the second youngest on the list.