Jayshree Ullal Named Richest Indian Professional Manager, with DMart CEO Joining the Ranks

The success of professional managers in the 2024 Hurun India Rich List showcases significant wealth growth and India's thriving economy, particularly in technology and retail.

Hurun India has unveiled its 2024 list of the richest Indians, highlighting significant achievements within professional management. India has established itself as a breeding ground for some of the world’s most exceptional professional managers. These individuals, who joined their companies post-establishment, played pivotal roles in their growth and, through stock options, created considerable wealth.

At the top of this list is Jayshree Ullal, the CEO of Arista Networks, who boasts a staggering net worth of INR 32,100 crore. She has been instrumental in steering Arista Networks toward a successful initial public offering (IPO) in June 2014, transforming it from a nascent venture into a multibillion-dollar enterprise. Her leadership and vision have significantly impacted the company's trajectory, establishing her as a leading figure in the technology sector.

Following Ullal is Nikesh Arora of Palo Alto Networks, while Satya Nadella of Microsoft ranks third. The only Indian on the list, Ignatius Navil Noronha, CEO of Avenue Supermarts, which operates the popular DMart chain, occupies the fourth position with a net worth of Rs 6,900 crore. At 49 years old, Noronha represents the retail sector's strength in the current economic landscape.

Other noteworthy Indian professional managers featured in the list include Thomas Kurian and Ajaypal Singh Banga, both valued at Rs 5,500 crore. Google’s Sundar Pichai follows closely with a net worth of Rs 5,400 crore, while Adobe's Shantanu Narayen is valued at Rs 4,700 crore. PepsiCo’s Indra K. Nooyi and Micron Technology’s Sanjay Mehrotra round out the list with net worths of Rs 3,900 crore and Rs 2,700 crore, respectively.

In a broader context, Hurun India reports a surge in India's billionaire count, which has now surpassed 300, with 334 USD billionaires, marking a sixfold increase since the list's inception 13 years ago. The 2024 Hurun India Rich List includes 1,539 individuals, reflecting an increase of 220 from the previous year. The cumulative wealth has risen by 46 percent, with the average increasing by 25 percent. Among the notable trends, real estate and industrial products contributed significantly to the number of new entrants, with industrial products alone accounting for 142 newcomers.

The substantial rise in the number of billionaires and overall wealth indicates a successful economy, particularly in the domains of technology, retail and industrial products. These professionals are shaping their industries, and their contributions are enhancing their individual fortunes and bolstering India's position on the global economic stage.