In a recent update in the economic news sector, Mukesh Ambani has surged to claim the coveted title of India's wealthiest individual, dethroning Gautam Adani on the prestigious Hurun India Rich List - (HIR-List) 2023. Ambani's financial empire has witnessed an extraordinary four-fold expansion, with his wealth soaring from Rs. 165,100 crore in 2014 to a staggering Rs. 808,700 crore.
Today, the esteemed institutions of Hurun India and 360 Wealth jointly unveiled the much-anticipated 360 ONE Wealth Hurun India Rich List 2023.
The dramatic shift in rankings was precipitated by the Hindenburg report, which led to Gautam Adani (aged 61), the esteemed chairman of the Adani group, tumbling from the zenith of India's wealth hierarchy to the second position. Adani's fortunes dwindled significantly, leaving him with a wealth of Rs. 474,800 crore. Meanwhile, Cyrus S Poonawalla maintained his steadfast grip on the third position with an impressive wealth of Rs. 2,78,500 crore in 2023.
Further down the list, Shiv Nadar secured the fourth spot with an accumulated wealth of Rs. 2,28,900 crore, closely trailed by Gopichand Hinduja & family, who clinched the fifth position with a cumulative wealth of Rs. 1,76,500 crore. Dilip Shanghvi secured the sixth position with his wealth amounting to Rs. 1,64,300 crore, while LN Mittal & family occupied the seventh position with a wealth of Rs. 1,62,300 crore. Radhakishan Damani & family claimed the eighth spot with an impressive wealth tally of Rs. 1,43,900 crore.
Rounding out the top ten, Kumar Mangalam Birla & family and Niraj Bajaj & family secured the ninth and tenth positions, respectively, with wealth figures of Rs. 1,25,600 crore and Rs. 1,20,700 crore on the Hurun India Rich List 2023.
Remarkably, the list showcases a striking trend of prosperity, with 1,319 individuals now possessing assets valued at Rs. 1,000 crore or more, representing a remarkable 76% increase over the past five years. The collective wealth of these illustrious list members has surged to an astounding Rs. 109 lakh crore, surpassing the combined GDP of Singapore, the UAE, and Saudi Arabia. This year's roster underscores India's remarkable entrepreneurial spirit, with 64% of the individuals being self-made billionaires, as highlighted by Yatin Shah, Co-Founder of 360 ONE and Joint CEO of 360 ONE Wealth.
The 360 ONE Wealth Hurun India Rich List 2023 - Top 10 Wealth Growth Over Five Years:
Mukesh Ambani - Rs. 808,700 crore Gautam Adani - Rs. 474,800 crore Cyrus S Poonawalla - Rs. 2,78,500 crore Shiv Nadar - Rs. 2,28,900 crore Gopichand Hinduja - Rs. 1,76,500 crore Dilip Shanghvi - Rs. 1,64,300 crore LN Mittal & family - Rs. 1,62,300 crore Radhakishan Damani - Rs. 1,43,900 crore Kumar Mangalam Birla - Rs. 1,25,600 crore Niraj Bajaj - Rs. 1,20,700 crore
Of noteworthy interest is the fact that India is now home to 259 billionaires, representing a notable increase of 38 individuals compared to the previous year.
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