Reliance Industries chairman Mukesh Ambani overtook Gautam Adani and reclaimed the title of the richest Indian, according to Hurun India Rich List 2023. Adani's wealth fell significantly due to the effect of the Hindenburg report on the group’s shares. Byju Raveendran, founder of edtech startup Byju's, exited the list on the back of many company valuation markdowns by investors.
Cyrus S Poonawalla and family remained in third position. Industrialist Kumar Mangalam Birla and family and Niraj Bajaj and family re-entered the top 10. They replaced Vinod Shantilal Adani and the Adani Group family, and Uday Kotak of Kotak Mahindra Bank, who slipped down in the rankings below 10. Among the top 10 entrepreneurs, only Radhakishan Damani and family and Gautam Adani saw a decline in net worth.
IPO stars who entered the list this year are Ramesh Kunhikannan of Kaynes Technology; Jagdish Prasad Chowdhary of Titagarh Wagons; Ranjit Pendurthi of Archean Chemical Industries; Ajay P Thakker and family of Jupiter Life Line Hospitals; Pavan Kumar Bajaj and Karan Bajaj of Electronics Mart India; and Harish Rangwala and Rajendra Shantilal Shah of Harsha Engineers International.
Also Read: Byju Raveendran out of Hurun India rich list amid valuation markdowns
Serum Institute’s Poonawalla was the biggest gainer in absolute terms, as his wealth rose 36 percent to Rs 2.78 lakh crore in the past year. In percentage terms, Gauri Shankar Agarwala and family of CMR Green Technologies experienced the highest percentage growth, as their wealth surged more than fourfold to Rs 5,900 crore.
Among sectors, pharmaceuticals led the list with 133 individuals, followed by chemicals & petrochemicals and industrial products. Despite being in third position, industrial products created the maximum wealth – 87 percent – owing to the post-pandemic demand and listing gains.
On the social media front, Ratan Tata topped the list with 12.6 million followers on X (formerly Twitter), followed by Anand Mahindra and Acharya Balkrishna. Apart from this, Manish Kejriwal of Kedaara Capital became the first Indian private equity fund manager to enter the list.
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