306 new entrants make it to BHI Rich List, Mukesh Ambani on top
STAGGERING RISE: Total wealth of 831 individuals equals one-quarter of country’s GDP
MUMBAI: Industrialist and Reliance Industries Ltd Chairman Mukesh Ambani has topped the “Barclays Hurun India Rich List-2018” for the seventh consecutive year, with his wealth estimated at Rs 371,000 crore, an official said here on Tuesday.
Figuring next on the chart are S P Hinduja & Family of Hinduja Group, with an estimated wealth of Rs 159,000 crore, and Arcelor Mittal’s L N Mittal & Family at Rs 114,500 crore.
Following them are: Wipro’s Azim Premji at Rs 96,100 crore, Sun Pharmaceuticals Ltd’s Dilip Shanghvi at Rs 89,700 crore, Kotak Mahindra Bank’s Uday Kotak at Rs 78,600 crore, Serum Institute of India’s Cyrus Poonawalla at Rs 73,000-crore, Adani Group’s Gautam Adani & Family at Rs 71,200 crore, and Shapoorji Pallonji Mistry’s Cyrus P Mistry at Rs 69,400 crore.
The annual list is a compilation of the super-richest Indians having a net worth of Rs 1,000 crore or more, and this number has increased by a staggering one-third — from 617
The Indian edition of the list is the fastest growing rich list in the world, highlighting the optimism of a young, vibrant and ambitious country
RAHMAN JUNAID MD, Hurun India Report
in 2017 to 831 in 2018, said Hurun Report India’s Managing Director Rahman Junaid.
The cumulative wealth of these 831 individuals featuring in the list stands at $ 719 billion, or one-quarter of the Indian GDP of $ 2,848 billion, as per the IMF’S April 2018 estimates.
Expectedly, the country’s commercial capital Mumbai tops the list with 233 names, followed by the political capital New Delhi at 163 and the IT capital of Bengaluru at 70, said Baclays Private Clients CEO S N Bansal. While 306 new entrants made it to the list this year, 75 of those featuring in 2017 list failed to find a place in the super-exclusive Rs 1,000-crore-plus club.
“The Indian edition of the list is the fastest growing rich list in the world, highlighting the optimism of a young, vibrant and ambitious country,” said Junaid.
“Wealth creation in India is growing at an unprecedented pace, and the time it takes to accumulate wealth is shorter than before,” remarked Bansal at the report launch.