Hurun List 2023: Mukesh Ambani Tops as Richest Indian with 1,319 Citizens Crossing Rs 1,000 Cr Mark
Hurun List 2023: Mukesh Ambani Tops as Richest Indian with 1,319 Citizens Crossing Rs 1,000 Cr Mark
In the realm of Indian business and entrepreneurship, the Hurun List has become an annual benchmark to gauge the financial successes and milestones of the nation’s wealthiest.
This year’s 2023 Hurun India Rich List is filled with notable insights, and it continues to feature Mukesh Ambani as the nation’s richest individual, further solidifying his presence as a dominant force in the global business arena.
What’s more, the list reveals an unprecedented 1,319 Indian citizens who possess a net worth exceeding Rs 1,000 crore.
Mukesh Ambani, the chairman and largest shareholder of Reliance Industries, has managed to retain his position at the summit of the Hurun List.
The 360 ONE Wealth Hurun India Rich List 2023, which was published today by Hurun India and 360 Wealth, showed Mukesh Ambani & Family at the top with a net worth of approximately Rs. 808,700 crore, followed by Gautam Adani & Family with Rs. 474,800 crore and Cyrus Poonawalla & Family with Rs. 278,500 crore.
The 12th annual list of the wealthiest people in India revealed several intriguing statistics, including the fact that 1,319 people—an increase of 219—had net worths over Rs 1,000 crore, including 278 new arrivals.
For the first time since the Hurun lists’ inception, the collective wealth of the 360 Hurun India Rich Listers rises above Rs 109 lakh crore, surpassing the GDPs of Singapore, the United Arab Emirates, and Saudi Arabia put together.
The study discovered that while average wealth has declined by 9.3%, total wealth on the list rose by 8.5 percent. A total of 1,054 people had their wealth rise or stay the same, including 278 new faces, while 264 people saw their wealth fall and 55 people dropped out of the programme.
Interestingly, India now has 259 billionaires, an increase of 38 over the previous year. In terms of segment-wise contribution, Metals & Mining contributed the most new participants to the list, while Pharma remained at the top with 133 new participants. The youngest person on the list was Kaivalya Vohra, founder of Zepto (20), demonstrating the effect of the start-up movement.
With a robust conglomerate that spans sectors including petrochemicals, refining, oil, telecommunications, and retail, Ambani’s empire remains unrivaled in scale and profitability.
Under his leadership, Reliance Jio, the telecommunications arm, has dramatically altered the digital landscape of India, bringing millions online and revolutionizing data consumption habits.
Additionally, his recent forays into e-commerce and technology, with JioMart and partnerships with global giants like Google and Facebook, suggest that his ambitions are anything but plateauing.
The 2023 Hurun List illustrates the burgeoning wealth in India, with a record-breaking 1,319 individuals surpassing the Rs 1,000 crore net worth benchmark. This surge showcases the immense entrepreneurial spirit and the economic opportunities present in the nation. India is currently undergoing a significant transformation, with sectors like technology, pharmaceuticals, renewable energy, and e-commerce leading the charge.
Close on Ambani’s heels, Adani has witnessed exponential growth, especially in sectors like ports, logistics, agribusiness, power generation, and recently, airport management. A constant figure in the tech domain, Nadar’s HCL continues to be a global force in IT services.
Leading one of India’s most trusted private banks, Kotak remains an influential figure in the banking and finance sector. Emerging names have also graced the list, with newer entrants from industries like fintech, edtech, and healthtech making their presence felt.
Mumbai retains its title as the city housing the highest number of ultra-rich individuals, followed by New Delhi and Bengaluru. However, Tier-2 cities are rapidly catching up, with places like Pune, Ahmedabad, and Hyderabad showcasing their potential.
On the gender front, while the list remains predominantly male-dominated, there’s a slow but steady rise in female billionaires. Savitri Jindal, Kiran Mazumdar-Shaw, and Roshni Nadar are notable women who have made significant inroads in their industries.
The 2023 Hurun India Rich List is more than just a compilation of the wealthy—it’s a testament to India’s growing economic prowess, its entrepreneurial spirit, and its potential to be a global leader across multiple sectors. With trailblazers like Mukesh Ambani leading the charge, the future looks bright for India’s business ecosystem.
