Relaince Industries Limited chairman Mukesh Ambani has topped the IIFL Wealth Hurun India Rich List 2021. Adani Group chairman Gautam Adani has occupied the second spot after his net worth surged by 261 per cent.
The 64-year-old businessman has topped the 10th Anniversary Edition of IIFL Wealth Hurun India Rich List, with a nine per cent increase in his total net worth this year. His fortunes grew sharply from 2020 as the conglomerate made huge gains in its retail and telecom operations.
Mukesh Ambani’s daily wealth creation increased to Rs 163 crore from 2020 due to sharp growth in digital business during the pandemic.
Under Ambani’s leadership, RIL became the first company to cross $200 billion market capitalisation. RIL has become the 57th most valuable firm in the world according to the Hurun Global 500 Most Valuable Companies 2021.
SPOTLIGHT ON GAUTAM ADANI’S 261% WEALTH GROWTH
Adani Group chairman Gautam Adani has stormed into the second spot as his net worth grew 261 per cent in 2021.
Adani and his family’s net worth increased to Rs 5,05,900 due to a breathtaking rally in the stocks of Adani Group listed firms. The 59-year-old’s net worth increased by Rs 1,002 crore daily this year.
Gautam Adani’s jumped two spots on the IIFL Wealth Hurun India Rich List 2021 due to the stellar performance of his listed firms on the stock market.
It may be noted that Adani Group has a total market capitalisation of Rs 9 lakh crore. All listed firms under the conglomerate except Adani Power are valued at more than Rs 1 lakh crore. “Gautam Adani is the only Indian to build not one, but five Rs 1 lakh crore companies,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.
OTHER RICHEST INDIANS IN TOP 10
Shiv Nadar and family occupied the third position with a 67 per cent increase in wealth to Rs 2,36,600 crore. For the 12 months that ended in December 2020, HCL became only the third Indian IT company to break through the US $10 billion revenue mark.
Shiv Nadar’s HCL generated Rs 260 crore daily since the last list was released in 2020.
“HCL’s limited exposure to COVID affected segments such as travel, retail and hospitality resulted in a 67 per cent increase in his wealth,” said the Hurun report.
SP Hinduja and family moved down two positions to fourth on the list but saw a 53 per cent rise in net worth to Rs 2,20,000 crore.
“The brothers saw the valuation up by 53 per cent to Rs 2,20,000 crore backed by the performance of their flagship companies such as Ashok Leyland and IndusInd Bank, whose share price went up by 74 per cent and 61 per cent respectively. The brothers are based between Mumbai, London and Geneva,” the report said.
LN Mittal and family moved up eight positions in the list to fifth this year after net worth rose 187 per cent to Rs 1,74,400 crore. The steel baron’s company ArcelorMittal, the biggest steelmaker outside China, reported its best quarter since 2008, backed by strong demand from the construction, infrastructure and renewable energy sectors.
“Continued demand recovery and higher steel selling prices helped ArcelorMittal to triple its share price over the year,” the report said.
Cryrus S Poonawalla and family retained the sixth spot in the list even as the net worth jumped 74 per cent to Rs 1,63,700 due to deals signed by the Serum Institute of India (SII) to manufacture Covid-19 vaccines.
“Poonawalla’s wealth increased by 74 per cent to Rs 1,63,700 crore, on the back of providing 60 crore doses or 92 per cent of the Covid-19 vaccines delivered in India. In June 2020, Poonawalla debuted the Top 100 in Hurun Global Rich List. His son Adar was one of three Indians featured along with Prime Minister Modi in the recent Time Magazine’s 100 Most Influential People 2021,” the Hurun report added.
Radhakishan Damani and family saw their net worth rise by 77 per cent to Rs 1,54,300 crore. Damani and his family has retained the seventh spot in the IIFL Wealth Hurun India Rich List 2021
Eighth on the list is Gautam Adani’s brother Vinod Shantilal Adani and family. His net worth increased to Rs 1.31 lakh crore. Vinod Adani has moved up to 12 places on the list this year.
Aditya Birla Group Chairman Kumar Mangalam Birla and his family have also entered the top 10 richest list with a net worth of Rs 1,22,200 crore. “Strong demand across all business segments, plants running at near full capacity and improving margins resulted in an 84 per cent increase in the combined market capitalization of Aditya Birla Group over the last year,” the report said.
The tenth position on the list has been secured by Jay Chaudhry this year. Chaudhry is the founder and CEO of US-based cloud security company Zscaler. He has climbed two positions on the list after his net worth grew 85 per cent this year to Rs 1,21,600.
Chaudhry, a Himachal Pradesh born IIT alumni, founded the security firm in 2007 and owns a 42 per cent stake in the Nasdaq-listed firm, which has a market capitalisation of Rs 2,81,000 crore.
“The increased demand for enterprise cybersecurity services amidst increased corporate ransomware attacks contributed an 85 per cent increase in Chaudhry’s wealth and stormed into the top 10 of IIFL Wealth Hurun India Rich list 2021,” the report noted.
The Hurun Rich List indicated that India has a total of 237 billionaires, compared to 58 last year.
The report also suggested that the chemicals and software sectors added the largest number of new billionaires on the list while pharma remains at the top spot with 130 entrants on the rich list.