Records have been broken by the 2024 Hurun India Rich List, which reveals a remarkable increase in wealth among India’s elite. The list now stands at 1,500 entries for the first time, with 1,539 people having net worths over Rs 1,000 crore apiece.
In addition, Gautam Adani and his family have risen to the top of the Hurun India Rich List for 2024, with their fortune having increased by 95% to Rs 1,161,800 Cr. With a net worth of Rs 1,014,700 crore, Mukesh Ambani has risen to the second position on the 2024 Hurun India Rich List.
This year, HCL Technologies’ Shiv Nadar and family come in third with a combined worth of Rs 314,000 crore.
Fourth on the list is vaccine manufacturer Cyrus S. Poonawalla & family of Serum Institute of India, followed by Sun Pharmaceutical Industries’ Dilip Shanghvi.
Six people have stayed in the India Top 10 every year over the last five years. The Gautam Adani family is at the top of the list, followed by the families of Mukesh Ambani, Shiv Nadar, Cyrus S. Poonawalla, Gopichand Hinduja, and Radhakishan Damani.
Despite the difficulties after the report, Adani, a self-made entrepreneur, has added Rs 1,021,600 Cr to his fortune over the last five years, ranking among the top ten. The last year has seen a notable increase in the share prices of all Adani Group firms. Adani Ports, for instance, had a 98% rise in revenue due to higher utilization rates and the planned purchase of additional ports and container terminals. In the meantime, the share prices of the energy-focused businesses, Adani Energy, Adani Gas, Adani Transmission, and Adani Power, increased by an average of 76%.
“In its August 2024 review, MSCI decided to remove restrictions on Adani Group securities, signaling a return to regular operations and a stable outlook for important equities including Adani Enterprises, Adani Ports, and Ambuja Cements. Hurun has this year blamed Gautam Adani and his family for the riches of the family trust and foreign businesses under the promoter group, according to the newspaper.
