With a net worth of Rs 11.6 lakh crore, Gautam Adani replaced Mukesh Ambani to become the richest Indian, Hurun India Rich List 2024 said.
"Rising like a phoenix after the Hindenburg allegations, Gautam Adani (62) and family have secured the top spot in this year's rankings," the report said.
With a net worth of Rs 11.6 lakh crore, Gautam Adani replaced Mukesh Ambani to become the richest Indian, Hurun India Rich List 2024 said.
Recovering from the dent caused by the Hindenburg Research report, Adani's net worth shot up 95 per cent while Reliance Industries Chairman and Managing Director Mukesh Ambani's overall net worth increased by 25 per cent to 10.14 lakh crore.
"Rising like a phoenix after the Hindenburg allegations, Gautam Adani (62) and family have secured the top spot in this year's rankings, with a 95% increase in wealth compared to last year, bringing their total to INR 1,161,800 crore. As a self-made entrepreneur, Adani has recorded the highest wealth growth within the top 10 over the past five years, adding INR 1,021,600 crore, despite the challenges following the report," Hurun Rich List said.
Notably, in the 2023 report, Adani's wealth had declined by 57 per cent to Rs 4.74 lakh crore, and Ambani was way ahead with a staggering Rs 8.08 lakh crore.
The sharp decline in Adani's fortune was seen after US-based short seller Hindenburg Research levelled several serious allegations against him, all o which have been denied by the conglomerate.
Adani was pegged at Rs 44,000 crore in the 2014 edition of the Hurun report, making him the tenth richest Indian at the time.
In the 2024 list, Shiv Nadar and family of HCL managed to be on the third richest spot with a net worth of Rs 3.14 lakh crore, while Serum Institute of India's Cyrus Poonawalla dropped down to the fourth position with a net worth of Rs 2.89 lakh crore.
Sun Pharmaceuticals' Dilip Shanghvi continued his growth on the list by securing the fifth richest spot against his sixth position last year, with a net worth of Rs 2.50 lakh crore.
Zoho's Radha Vembu is the wealthiest among the self-made women with a fortune of Rs 47,500, while Zepto's co-founders Kaivalya Vohra and Aadit Palicha -- in their early 20s -- were the youngest on the list with a net worth of Rs 3,600 crore and Rs 4,300 crore respectively.
The list ranks Indians who have a net worth of over Rs 1,000 crore. It went from 229 individuals to 1,539 people in 2024.
The overall cumulative wealth has seen a jump of 46 per cent in the year.
Notably, actor Shah Rukh Khan made a debut on the list with a fortune of Rs 7,300 crore, much higher than business partner Juhi Chawla who stood at the second place among the entertainers with a net worth of Rs 4,600 crore.
As many as 16 professionals also made it to the list with Arista Networks' chief executive Jayshree Ullal being the wealthiest at Rs 32,100 crore and followed by D-mart chief executive Igantius Navil Noronha at Rs 6,900 crore.
Additionally, Gera Developments' Kumar Pritamdas Gera's wealth increased the fastest at 566 per cent in the 2024 list, while Ambani and Adani had the biggest growth by the quantum, the Hurun Rich List said.