On October 9, 2024, Forbes unveiled its highly anticipated list of India’s 100 richest individuals, showcasing the remarkable wealth and entrepreneurial spirit of the nation. This annual ranking highlights the dynamic shifts in India’s financial landscape, reflecting the fortunes of business magnates across various industries. As the country continues to evolve economically, this list not only celebrates the achievements of these billionaires but also offers insights into the factors driving their wealth accumulation in a rapidly changing market. Here are the top 5 billionaires leading the pack this year.
Mukesh Ambani, the chairman and largest shareholder of Reliance Industries, once again clinches the title of India’s richest person. Mukesh Ambani’s net worth is about $119.5 billion. Ambani has continued to expand his empire in sectors ranging from oil & gas, and telecommunications to retail.
The Group’s flagship company, Reliance Industries Limited is the largest private sector company in India. On October 10, 2024, the share price of Reliance Industries opened at ₹2,760.05 and the market cap of the company is ₹18,62,166.72 crore.
Gautam Adani, the founder of the Adani Group, ranks as the second richest individual from India. Gautam Adani’s net worth is around $116 billion. Adani has significantly diversified his business interests, including logistics, energy, and infrastructure.
Adani Enterprises Limited is the flagship firm of Billionaire Gautam Adani. On October 10, 2024, the share price of Adani Enterprises opened at ₹3,140.00 and the market cap of the company is ₹3,50,288.14 crore.
Savitri Jindal, the chairperson of the O.P. Jindal Group has emerged as a formidable force in India’s business ecosystem. With a net worth of around $43.7 billion, she ranks among the wealthiest women in India. The O.P. Jindal Group operates in diverse sectors, including steel, power, and infrastructure, showcasing the family’s strategic approach to business growth.
JSW Steel is the flagship business of the Group. On October 10, 2024, the share price of JSW Steel Ltd opened at ₹999.00 and the market cap of the company is ₹2,45,621.40 crore.
In fourth place is Shiv Nadar, the co-founder of HCL Technologies, with a net worth estimated at $40.2 billion. Under Nadar’s leadership, HCL has emerged as a global IT services powerhouse.
On October 10, 2024, the share price of HCL Technologies opened at ₹1,820.00 and the market cap of the company is ₹4,96,872.08 crore.
Dilip Sanghvi, the founder of Sun Pharmaceutical Industries, is another prominent figure on the list, with a net worth of around $32.4 billion. Sanghvi has built Sun Pharma into one of the largest pharmaceutical companies in India, known for its extensive portfolio of generic and speciality medications. On October 10, 2024, the share price of Sun Pharmaceutical Industries opened at ₹1,929.60 and the market cap of the company is ₹4,61,776.01 crore.
Note: The market capitalisation of the companies provided here is as of October 10, 2024, 9:35 AM.
Apart from this, there are several other well-known names on the list, such as Kumar Birla, Bajaj Family, and more. The Forbes list serves as a testament to the resilience and adaptability of India’s wealth creators. As the economy continues to grow, these billionaires will likely play a crucial role in shaping the future landscape of business in India.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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