The top 10 richest people in India in 2024

The top 10 richest people in 2024

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1. Mukesh Ambani

• Age: 67 Years
• Source of Wealth: Reliance Industries Ltd

Mr. Mukesh Ambani is the Managing Director and Chairman of Reliance Industries, and he holds the title of India’s richest person. According to the latest financial reports, Reliance Industries achieved a revenue of Rs1,000,122 Crore ($119.9 billion) in FY2024. The company operates across a diverse range of sectors, including petrochemicals, oil and gas, retail, telecom, and more.

Ambani’s three children, Akash, Anant, and Isha, play significant roles in managing various divisions of the conglomerate, ensuring the continued growth and innovation of the family business.

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2. Gautam Adani

• Age: 62 Years
• Source of Wealth: Adani Group

Gautam Shantilal Adani is an Indian billionaire industrialist, best known as the founder and chairman of the Adani Group. This multinational conglomerate is heavily involved in port operations and development within India. Established in 1996, the Adani Foundation is chaired by his wife, Priti Adani.

The Adani Group’s business interests span a wide range of sectors, including ports, airports, power generation and transmission, and green energy. Notably, Adani is recognized as India’s largest airport operator and also controls Gujarat’s Mundra Port, the country’s largest.

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In January 2023, Hindenburg Research, a US-based firm, accused Gautam Adani and his companies of financial fraud and stock market manipulation. Following the release of the report, Adani Group’s stocks plummeted, wiping out over $120 billion in market value. However, the market value recovered when the Supreme Court ruled in the group’s favor a year later.

3. Savitri Jindal & family

• Age: 74 Years
• Source of Wealth: OP Jindal Group
  

Savitri Jindal is an Indian politician and entrepreneur who serves as the emeritus chair of the OP Jindal Group. The various divisions of the business are managed by her four sons: Prithviraj, Sajjan, Ratan, and Naveen Jindal.

JSW Sports, the sports division of the JSW Group, is part of this extensive conglomerate, which operates across India, the US, South America, Europe, and Africa. Its mission is to actively contribute to the development of a vibrant sports ecosystem in India.

Savitri Jindal holds the distinction of being the richest woman in India.

4. Shiv Nadar

• Age: 79 Years
• Source of Wealth: HCL Enterprise

Shiv Nadar is the founder of the HCL Group and a pioneer in India’s IT industry. HCL serves prestigious clients such as Cisco, Microsoft, and Boeing. In recognition of his significant contributions to the IT sector, the Indian government awarded Mr. Nadar the Padma Bhushan, India’s third-highest civilian honor, in 2008.

Mr. Nadar is also a highly respected philanthropist. In late 2023, he donated Rs 2,042 crore to various causes, further cementing his legacy as a benefactor.

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5. Dilip Shanghvi

• Age: 68 Years
• Source of Wealth: Sun Pharmaceuticals

Dilip Shanghvi is a prominent Indian business tycoon and the visionary behind Sun Pharmaceutical Industries, the first Indian pharma company to achieve a $5 billion valuation. He expanded Sun Pharma through a series of strategic acquisitions, the most notable being the 2014 purchase of scandal-tainted rival Ranbaxy Laboratories for $4 billion.

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6. Radhakishan Shivkishan Damani,

• Age: 69 Years
• Source of Wealth: Avenue Supermarts Limited

Radhakishan Shivkishan Damani, an Indian entrepreneur and prominent investor, is renowned as the founder of Avenue Supermarts Limited, which runs almost 336 DMart stores in India. He is also known as India’s retail king, having started his journey from Mumbai in 2002. Additionally, he exercises control over his investment ventures via his company, Bright Star Investments Limited. He has stakes in VST and India Cement, and his property portfolio also includes Radisson Blu Resort in Alibaug.

7. Sunil Mittal

• Age: 66 Years
• Source of Wealth: Bharti Airtel

One of India's telecom titans, Sunil Mittal, is back in the top 10 bracket of India's 100 Richest list this year. Airtel is one of the country's largest mobile phone operators and the biggest contributor to Mittal's wealth. Airtel India was established almost three decades ago and now has a presence in 17 countries and the Channel Islands. Bharti Airtel registered ₹151,417.8 crore in revenue this year.

In 2022, Google announced a $1 billion investment in Bharti Airtel, of which $700 million was for a minority stake in the company. Mittal's Bharti Global, run by son Shravin, invested in UK satellite provider OneWeb. In 2022, Mittal agreed to merge it with Eutelsat in a deal that valued OneWeb at $3.4 billion. Also Read: Top 10 largest economies in the world in 2024

8. Kumar Birla

• Age: 57 Years
• Source of Wealth: Aditya Birla Group

Recognized as a prominent figure in the commodities sector, Kumar Birla leads the Aditya Birla Group. In addition to its involvement in the aluminium and cement industries, the group also offers financial services.

Birla previously served as the non-executive chairman of Vodafone Idea but stepped down in 2021 due to the company’s mounting debts. As of 2024, he has been reappointed as a non-executive director. Recently, he was made an additional director on the board of Vodafone Idea following the company’s ₹18,000 crore FPO, the largest in India’s history. This move was seen as a success and marked the beginning of “Vodafone Idea 2.0,” focusing on network upgrades and 5G rollout.

Additionally, Birla’s children, Ananya and Aryaman, have joined the boards of his flagship companies, continuing the family’s legacy.

9. Cyrus Poonawalla

• Age: 83 Years
• Source of Wealth: Serum Institute of India

Cyrus Poonawalla is a prominent figure in vaccine development in India and the primary beneficiary of the expanding sales and earnings of the privately held Serum Institute of India. His son, Adar Poonawalla, assists him in managing the institute, which is headquartered in Pune. The Serum Institute holds the prestigious title of being the world’s largest vaccine manufacturer.

The recent increase in Cyrus Poonawalla’s wealth can largely be attributed to the widespread utilization of the Covid-19 vaccines manufactured by the Serum Institute. Additionally, he recently came under the political spotlight for being a top donor to the Nationalist Congress Party (NCP) in the 2019 elections.

10. Bajaj Family

• Age: NA
• Source of Wealth: Bajaj Auto

The Bajaj family owns a network of 40 companies under the Bajaj Group. The 97-year-old family-led business was started by Jamnalal Bajaj in Mumbai in 1926. The family's flagship company, Bajaj Auto, is ranked as the world's fourth-largest two- and three-wheeler manufacturer. Rahul Bajaj, chairman emeritus of the storied Bajaj Group, passed away in February 2022. His elder son, Rajiv Bajaj, is now in charge of the automobile companies in the group, while his younger son, Sanjiv Bajaj, oversees the group's financial services business. The family is back in the top 10 bracket of India's 100 Richest list this year.