Gautam Adani has doubled his fortune to take the top spot for the first time with $150 billion
SINGAPORE (October 13, 2022) – The combined wealth of the tycoons on Forbes India’s 100 Richest 2022 list increased by $25 billion to $800 billion. A weak rupee has affected many of the richest, but this has been offset by Gautam Adani’s record earnings, making him the new No.1 on the list. The full list is available here. The list can also be found in the October issue Forbes Asia and the November issue Forbes India.
India’s post-pandemic demand revival has pushed its economy past Britain’s to become the world’s fifth largest., This is the first time since 2008 that the top order has changed. After nearly tripling his wealth in 2021, Adani doubled his net worth to $150 billion this year, becoming the No. 1 and second-richest person for some time. on the planet. Adani, the biggest earner this year in both interest and dollar terms, has announced it will invest $100 billion over the next decade, 70% of which will be in green energy.
Mukesh Ambani, who heads Reliance Industries, the powerhouse of the telecom giant, is in second place with $88 billion, down 5% from last year. Between them, Adani and Ambani account for 30% of the total wealth of India’s 100 richest.
Radhakishan Damani, the country’s retail king, The owner of the DMart supermarket chain entered the top three for the first time net worth decreased by 6% and reached 27.6 billion dollars. Another year of bumper profits from Covid-19 vaccines has lifted India vaccine baron Cyrus Poonawalla came in fourth wealth $21.5 billion. Rounding out the top five was software giant HCL Technologies’ Shiv Nadar, whose net worth was $21.4 billion, down $9.6 billion from last year.
Naazneen Karmali, Wealth Asia Editor and India Editor, Forbes Asia, said, “India’s post-pandemic recovery story is one of opportunity driven by the resurgence of domestic demand amid challenges from external factors. Gautam Adani’s remarkable rise to the top spot and the addition of many new entrants to the top 100 ranks this year reflect the entrepreneurial spirit of the country.”
There are nine new faces this year, including three from IPOs: Falguni Nayar (No. 44, $4.08 billion), a former Indian banker. the richest self-made woman after being listed by beauty and fashion retailer Nykaa; ethnic clothing retailer Ravi Modi (No. 50, $3.75 billion) and shoemaker Rafiq Malik (No. 89, $2.22 billion), which made the Metro Brands list last December.
Three notable members of the list died this year: Rahul Bajaj, the ailing patriarch of the Bajaj family (#10, $14.6 billion); Rakesh Jhunjhunwala, often referred to as the Warren Buffett of India. He died shortly after launching his new airline, Akasa Air August and is succeeded by wife Rekha Jhunjhunwala (No. 30, $5.9 billion); and construction tycoon Pallonji Mistry, whose son Cyrus Mistry, 54, died in June in a car accident in September. leaving the patriarch’s eldest son Shapoor Mistry (#13) at the helm family fortune of $14.2 billion.
Among the four returnees are Anand Mahindra (No. 91, $2.2 billion), Mahindra and Mahindra created a buzz launch of an electric SUV. The number of earners on the list is over 60, with many seeing their wealth decline compared to a year ago. Vijay Shekhar Sharma was among those dropped this year. has seen shares of its One97 Communications, parent The fintech company Paytm is at the center of the global technology superhighway.
The minimum required to make this year’s list was $1.9 billion, close to last year’s $1.94 billion.
The top ten richest people in India include:
- Gautam Adani; 150 billion US dollars
- Mukesh Ambani; $88 billion
- Radhakishan Damani: $27.6 billion
- Cyrus Poonawalla; $21.5 billion
- Shiv Nadar; $21.4 billion
- Savitri Jindal; $16.4 billion
- Dilip Shanghai; $15.5 billion
- Induja brothers; $15.2 billion
- Kumar Birla; $15 billion
- The Bajaj family; $14.6 billion
This list has been compiled using shareholding and financial information obtained from families and individuals, stock exchanges, analysts and regulatory agencies of India. The ranking lists family incomes, including those shared among extended families such as the Bajaj and Godrej families. Public revenues were calculated based on stock prices and exchange rates on September 23. Private companies were valued based on similar publicly traded companies. The list may also include foreign nationals with business, residential or other ties to the country, or citizens who do not reside in the country but have significant business or other ties to the country.
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