India's Billionaire Count Soars

India added a new billionaire every five days in 2023. This surge in wealth creation is a testament to the country's economic growth and entrepreneurial spirit, as per the survey of Hurun India Rich List 2024.
 
 
India's wealth has surged, with the Hurun India Rich List 2024 revealing a new billionaire emerging every five days throughout 2023. The list now features 1,539 ultra-wealthy individuals, an increase of 220 from the previous year. This is the first time the list has surpassed 1,500 entries, each with wealth exceeding ₹1,000 crore.

The report further highlights that, the total wealth of its 1,539 ultra-wealthy individuals has reached ₹159 trillion. This staggering figure surpasses the combined GDP of Saudi Arabia and Switzerland and represents more than half of India's national GDP. The industrial sector contributed the most individuals to this list, highlighting its significant role in wealth creation in India.

The number of billionaires in India has now crossed 334, a sixfold increase since the Hurun India Rich List was first launched 13 years ago. Industrialist Gautam Adani and his family top the list with an immense wealth of ₹11.6 trillion. This underscores India's rapid economic growth and the significant wealth accumulation in the country over the past decade.

When we saw the Bollywood industry, the superstar Shah Rukh Khan has made his debut on the Hurun India Rich List 2024 as a billionaire with a wealth of ₹7,300 crore. His financial success is largely due to his investments in the IPL franchise Kolkata Knight Riders and Red Chillies Entertainment. Other notable figures on the list include Amitabh Bachchan, Karan Johar, and Juhi Chawla, highlighting the increasing presence of entertainment industry icons among India's wealthiest individuals.

The youngest billionaires on this year's Hurun India Rich List are Harshil Mathur and Shashank Kumar, both aged 33, who founded Razorpay, a payment solution application. The youngest overall on the list is Kaivalya Vohra from Zepto. On the other end of the spectrum, the oldest person to debut on the list is Hanwantbir Kaur Sahney, age 95, from NBR Bearings Company. This highlights the diverse range of ages and industries represented among India's wealthiest individuals.
 
Indian billionaires are spread across 134 cities, with five of the top ten residing in Mumbai, the nation's financial capital. The Hurun India Rich List 2024 reveals that 18 individuals now possess wealth exceeding ₹1 trillion each, underscoring India's growing economic strength. This surge in wealth highlights significant contributions from various sectors, including entertainment and technology, reflecting the diverse sources of prosperity in the country.