New Delhi: India’s 100 richest individuals witnessed a surged in their fortunes to $1.1 trillion in 2024, in the first instance of their combined wealth crossing the $1 trillion mark. The rise in wealth of India’s top 100 billionaires has been substantial.
According to Forbes magazine, India’s richest 100 people witnessed a 40 per cent rise in their wealth so fare in 2024. In actual terms, their wealth rose from $779 billion in the year-ago period to $1.1 trillion so far this year.
How did 100 richest Indians become so rich?
One of the reasons behind the surge in the wealth of the 100 richest Indians on the Forbes list is the massive rally witnessed in the Indian stock market. For reference, the benchmark BSE Sensex which has 30 shares soared 30 per cent year-on-year. This rally has been fueled by greater domestic interest in the stock market via initial public offerings and mutual funds. Investors are driving the stock market bull run which is making the rich richer in India.
The 30 per cent rise in the Sensex has catapulted the wealth of at least 80 per cent of the wealthiest Indians named on the Forbes list. While industrialist Mukesh Ambani remained India’s richest person by adding $27.5 billion to his fortune, Gautam Adani emerged as the biggest gainer as his wealth surged by $48 billion, according to Forbes.
Sun Pharma chairman Dilip Shanghvi’s wealth rose by $32.4 billion during the same period. Torrent Pharma’s Mehta Brothers also added $16.3 billion to their fortune.
Who are India’s richest women?
Savitri Jindal, a Haryana MLA, is India’s richest woman with a wealth of $40.6 billion. She is also the third richest Indian on the Forbes list. Mahima Datla of Biological E and Hetero Labs’ B Partha Saradhi Reddy are new entrants on the list.
India’s youngest billionaire
Zerodha co-founder Nikhil Kamath is the youngest billionaire on the Forbes list. The 38-year-old has a personal fortune of $8.4 billion, according to Forbes.
India’s richest billionaires witnessed a surge in their combined wealth to $1.1 trillion, up 40 per cent from $779 billion a year ago, according to Forbes magazine. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
