Gautam Adani and family, with an estimated wealth of ₹10,94,400 crore, has topped the IIFL Wealth Hurun India Rich List 2022, which was released on Wednesday. With 116% growth as compared with the 2021 list, his daily wealth creation velocity is estimated at ₹1,612 crore.
Mukesh Ambani and family has been named as the second richest in India with an estimated wealth of ₹7,94,700 crore, a growth of 11% compared with the 2021 list. His daily wealth creation velocity is ₹210 crore.
Cyrus Poonawalla and family, with an estimated wealth of ₹2,05,400 crore, and Shiv Nadar and family with a wealth of ₹1,85,800 crore are placed third and fourth in the list.
Radhakishan Damani & family with wealth of ₹1,75,100 crore is the fifth richest. While Gautam Adani and family grew their wealth 15.4 times in 5 years, Vinod Shantilal Adani and family grew their wealth by 9.5 times, Shiv Nadar and family grew their wealth by 5 times, followed by Radhakishan Damani and family, who grew their wealth by 3.8 times in five years, as per the list.
“From an Indian wealth creation perspective, 2022 will be remembered for Adani’s meteoric rise. Briskly expanding his commodity trading company into a coal–to–port-to-energy conglomerate, he is the only Indian to have built not one, but seven companies with a market cap of one lakh crore,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India. “The cumulative wealth growth of the IIFL Wealth Hurun India Rich List 2022 excluding Adani is only 2.67%, compared with the overall 9%,” he added.
“In 2012, Adani’s wealth was hardly one-sixth of Ambani’s wealth and no one could imagine that he would overtake Ambani to become the richest man in India in 10 years. This is a reflection of the dynamism and structural transformation of the Indian economy. The success of a first-generation entrepreneur like Adani exemplifies the potential for growth in an economy that is witnessing economies of scale in many unexploited sectors and the paradigm shift in the generation of new wealth,” he said.
Founder of Nykaa – Falguni Nayar, 59, has overtaken Kiran Mazumdar-Shaw, 69, to become the richest self-made Indian woman. Co-founder of Confluent, a streaming data technology company, Neha Narkhede, 37, is the youngest self-made woman entrepreneur in India.
As per the list, there are 1,103 individuals with ₹1,000 crore wealth, up by 96 from last year. Thirteen people born in 90s made to the list, all self-made. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery app Zepto is the youngest self-made and the youngest rich individual.
With 283 individuals, Mumbai tops the India Rich list followed by New Delhi (185) and Bengaluru (89). Mumbai added 28. As many as 14 professional managers made it to the list.
