India's Richest Tycoons Hit $1 Trillion Milestone, Adani at No. 2
For the first time ever, the collective wealth of India's 100 richest tycoons breached the trillion dollar mark as more than 80 per cent of the country's richest tycoons are now wealthier than they were a year ago, a Forbes report showed on Thursday.
In a record-breaking year, India's richest are now worth $1.1 trillion, more than twice as rich as they were in 2019, said Forbes' list of India's top 100 billionaires.
"The biggest dollar gainer is infrastructure magnate Gautam Adani, who posted a strong recovery from last year's short-selling attack and recently placed his sons and nephews in key positions", the report noted.
With brother Vinod (Adani), he built $48 billion to take the family's net worth to $116 billion, which puts it at No. 2, it added.
The Indian rich added $316 billion or nearly 40 percent in just the last 12 months as investor enthusiasm about the country's growth story remains robust under Prime Minister Narendra Modi's third term, the report said.
The Forbes rich list has seen OP Jindal Group chairwoman Savitri Jindal move up to No. 3 for the first time, alongside being one of nine women on the list, up from eight a year ago, according to the report.
Four new entries debuted on the list, including Mahima Datla, who controls the privately-held vaccine producer Biological E.
Others on the coveted list are B. Partha Saradhi Reddy, leader in Hetero Labs, with generic medicines and pharma ingredients; Harish Ahuja of Shahi Exports, an apparel maker; and Surender Saluja, who is the founder and chairman of Premier Energies, which makes solar panels and modules.
Dilip Shanghvi, Founder of Sun Pharmaceutical Industries, rose three positions to place fifth with $32.4 billion, while siblings Sudhir and Samir Mehta of Torrent Group more than doubled their wealth, reaching $16.3 billion.
Sons of the Godrej family, Adi and Nadir Godrej, who head listed companies under the Godrej Industries Group, and their cousins Jamshyd Godrej and Smita Crishna Godrej, who head privately-held flagship Godrej & Boyce under the Godrej Enterprises Group, are also on the list.
Nonagenarians on the list include Nikhil Kamath, 38, who Co-Founded and runs online brokerage Zerodha with his brother Nithin, 45.
