• durgesh dubey
• 29 Aug, 2024

Gautam Adani

India's Wealth Surge: Gautam Adani Tops 2024 Hurun List as Mukesh Ambani Drops to Second

According to the '2024 Hurun India Rich List,' India now boasts 334 billionaires, a record number that surpasses previous years. Gautam Adani and his family have risen to the top spot with a remarkable wealth of ₹11.6 lakh crore, overtaking Mukesh Ambani, who now holds second place with ₹10.14 lakh crore. This year's list reveals a significant increase in the number of ultra-wealthy individuals, with 1,539 Indians across 134 cities having wealth exceeding ₹1,000 crore on average—a 150% rise from seven years ago.

India witnessed a new billionaire emerge every five days over the past year, while China experienced a 25% decline in its billionaire count. The total cumulative wealth of Indian billionaires has surged by 46%, and the average wealth has increased by 25%. Notably, the industrial products sector has been the most prominent contributor to this growth, driven by substantial capital investment and favorable business conditions, including reduced corporate tax rates and numerous trade agreements.

The 2024 list also highlights the rise of self-made billionaires, with 64% of new entrants achieving their status independently. The list now features 18 individuals with wealth surpassing ₹1 trillion, underscoring India's growing economic prowess. Bollywood superstar Shah Rukh Khan has also made headlines, debuting on the list with a wealth of ₹7,300 crore due to his investments in IPL and entertainment ventures.

This year's Hurun report reflects India's transition from a services-led to a manufacturing-driven economy and showcases the enduring spirit and success of Indian entrepreneurs.