Hear we are presenting a list of India’s richest tech entrepreneurs and a brief about them. The richest tech entrepreneur in India is Divyank Turakhia, Founder and CEO of ad-tech firm Media.net, who is worth ₹11,500 crore, according to Hurun India Rich List 2017. He is followed by Paytm Founder Vijay Shekhar Sharma, and Flipkart Founders Sachin Bansal and Binny Bansal who stand third on the list. Portea Medical’s Ganesh Krishnan stands fourth on the list.
WITH 302 NEW FACES HURUN REPORT LAUNCHES ITS SIXTH EDITION OF
HURUN INDIA RICH LIST 2017
BETTER THAN EXPECTED CORPORATE RESULTS IN 2017 OFFSET THE IMPACT OF DEMONETISATION
MUKESH AMABANI’S WEALTH SHOT UP BY A STAGGERING 58% TO INR 257,900 CRORES AND RETAINS THE RICHEST INDIAN TITLE FOR THE 6TH YEAR RUNNING
617 INDIVIDUALS IN HURUN INDIA RICH LIST 2017 WITH A CUTOFF OF INR1000 CRORES, COMPARED TO 339 LAST YEAR
CUT OFF FOR THE TOP 100 HAS MORE THAN DOUBLED TO INR 8,400 CRORES SINCE 2013
302 NEW FACES AND 22 DROPOUTS
PHARMA AND FMCG HAD A STELLAR YEAR IN THE HURUN INDIA RICH LIST BY DOUBLING THE NUMBER OF ENTRANTS TO 79 AND 63 RESPECTIVELY
MUMBAI, DELHI AND BENGALURU ADD 78, 52 AND 23 NEW FACES RESPECTIVELY TO REAFFIRM THEIR “BIG 3 CITY STATUS” IN HURUN INDIA RICH LIST 2017
“FMCG SUPER YOGI” ACHARYA BALKRISHNA OF PATANJALI STORMS INTO TOP 10
NEWLY FORMED STATE TELANGANA HAS 38 OF ITS RESIDENTS IN THE LIST
NUMBER OF WOMEN IN THE LIST INCREASED BY 300% (53 ENTRIES) THIS YEAR. NUMBER OF SELFMADE WOMEN IN THE LIST QUADRUPLED FROM 2 TO 8
42 YEAR OLD BENGALURU BASED AMBIGA SUBRAMANIAN IS THE YOUNGEST SELF MADE WOMAN IN THE LIST. SHE SOLD HER SHARES IN MU-SIGMA, THE DATA ANALYTICS UNICORN THAT SHE CO-FOUNDED
THE BLOCKBUSTER LISTING OF AVENUE SUPERMARTS ADDED 8 NEW ENTRIES IN HURUN INDIA RICH LIST 2017
WITH 15 AND 8 NEW ADDITIONS RESPECTIVELY, CHENNAI AND KANPUR BREAK INTO TOP 10 CITIES IN HURUN INDIA RICH LIST 2017
40 PADMA AWARDEES IN THE HURUN INDIA RICH LIST 2017
22 DROPPED OUT OF THE LIST AND 4 PASSED AWAY
SUPPORTED BY HIS LATEST BET IN TELECOM, MUKESH AMBANI ALSO CLIMBED TO TOP 15 IN THE HURUN GLOBAL RICH LIST FOR THE FIRST TIME
A TOTAL OF 136 BILLIONAIRES, A RECORD NUMBER SINCE THE INCEPTION OF HURUN RICH LIST IN 2012
WITH WEALTH INCREASE OF 320%, RADHAKISHAN DAMANI, THE NEW RETAIL KING, OF DMART IS THE BIGGEST GAINER IN HURUN INDIA RICH LIST 2017
LED BY DIV TURAKHIA OF MEDIA.NET, 5 SELF MADE INVIDUALS UNDER 40
ALL THE UNDER 40 SELF MADE HURUN INDIA RICH LISTERS DERIVE THEIR WEALTH FROM NEW TECHNOLOGY BUSINESS
WITH 182 INDIVIDUALS, MUMBAI TOPS THE LIST FOLLOWED BY NEW DELHI (117) AND BENGALURU (51)
WITH 56 LAKH FOLLOWERS IN FACEBOOK, ACHARYA BALKRISHNA IS THE MOST FOLLOWED ENTREPRENEUR IN THE INDIAN SOCIAL MEDIA
Hurun Report India releases Hurun India Rich List 2017
· Hurun Report finds 617 individuals with INR1,000 Crore or more, up 278 from last year, quadrupled from three years ago
· On average, the wealth of Hurun India Rich Listers have increased by 17% compared to that of last year
· Number of dollar billionaires has increased to 136 from 126 last year. The inaugural Hurun India Rich List in 2012 had 59 billionaires
“For every 1 entrepreneur in Hurun India Rich List 2017, we estimate that we missed 3”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India
· 40 have migrated from India and are NRIs
· 16 saw their wealth double year on year
· Average age of the Hurun India Rich List is 60;
· The fastest riser is Radhakishan Damani (62) of Avenue Supermarts; He registered a 3 times increase in wealth to INR 29,700 Cr
· 100 individuals saw their wealth decline.
· Haridwar-based Acharya Balkrishna (45) of Patanjali rose to 8th position, from 25th last year, after seeing his wealth grow by 173% to INR 70,000Cr
· Eklavya Juneja (24) of Mankind Pharma is the youngest person in the list. He owns 12% of Mankind Pharma which was founded by father Rajeev Juneja
· Pharmaceuticals dominate with 13% of the list, followed by FMCG and Chemical & Petrochemicals with 10% and 6% respectively
· A record high of 50% of Hurun India Rich List 2017 are self-made and are generated by family businesses. Average age of self made Hurun India Richlisters is 62
· Hurun India Rich List has eight self-made women this year, compared to two in last year
· 34 in the list under the age of 40; 28 in the under 40 inherited their wealth
· 7 individuals in Hurun India Rich List 2017 has ownership in IPL teams and 4 in ISL teams
· This year, we split the wealth of Pallonji Mystry among his sons Cyrus and Sharpoor equally. The Mystry brothers own 18.38% stake in Tata Sons through two investment companies Cyrus Investments and Sterling Investment which owns 9.19% stake each. Both the investment companies are equally owned by Cyrus Pallonji Mistry and Shapoor Pallonji Mistry.
· The combined wealth of India’s richest is a staggering US$640bn, equating to 1/4thof India’s GDP last year and similar to the GDPs of Switzerland ($660bn), and combined GDP of South Africa ($317bn) & Israel ($340bn).
· Leading Authority on India’s private wealth, Hurun Report launches the India Rich List for the sixth time
· “The Richest Horoscopes” – Those born in Capricorn, Taurus and Cancer produced most number of individuals in the rich list and Aquarius the least!!!
HURUN INDIA RICH LIST 2017
MUMBAI, 25 September 2017: Today Hurun Report released the Hurun India Rich List, a list of the richest people in India with a cut-off at INR 1,000 Cr. This is the sixth year of the list, which has become a benchmark for the private sector and has become widely accepted to be the most robust attempt at covering entrepreneurship in India. Wealth calculations are a snapshot of networth of living individuals as of 31st July, 2017 when the rate of exchange to the US dollar was INR 64.1
Stock Markets Performance
Bombay Stock Exchange (BSE) Sensex went up by 16.1% as on July 31, 2016 to 32,514 on July 31, 2017. For the year under review, BSE Mid Cap (16.4%) and BSE Small Cap Index (2.72%) outperformed the benchmark index. Sensex also outperformed compared to Global indices NYSE (10.5%) and DAX (13.7%). Currently, Indian stock market seems to be trading at an expensive valuation of 23.3x compared to last year’s 19.6x.
“The market capitalization of all listed companies is now equivalent to 84% of India’s nominal GDP which is the highest in emerging markets. This year, we have expanded the list to highlight the success stories of some of the emerging entrepreneurs” says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher.
“The total number of rich list entrants increased 6 times since we launched the list six years ago; a good indication that Indian entrepreneurs are coming of age with global ambitions” says Rupert Hoogewerf, Hurun Report Global, Chairman and Chief Researcher.
Indian currency depreciated by 3% versus USD during the period under review.
With networth of INR 257,900 Crore Mukesh Ambani (60), the business magnate, ranked first in the list for the sixth consecutive year. Share price of Reliance industries hit nine year high in July 2017. Over the last one year, Reliance Industries shares have gained over 1% every seven days, rising by 56% in 52 weeks. His wealth is 50% more than the GDP of the country of his birth – Yemen.
“It is rare to find a country with such a dominant richest person (Mukesh Ambani) whose wealth is thrice more than that of the no.2 in the list. We have never seen such a wide margin between the richest and the second richest in big countries that include USA, China, UK, Russia and so on”, said Rupert Hoogewerf, Chairman and Chief Researcher, Hurun Report Global
With a networth of INR 89,000 Crore, Dilip Shanghvi (61) of Sun Pharma retains the second place despite shares of his flagship company going down by 36%. FDA USA put Sun Pharma under scanner after having noted regulatory breaches – as situation that led to barring new product approvals.
The Steel Baron, Lakshmi Niwas Mittal (67) secures third position for the first time with a networth of INR 88,200 Crore due to an uptick in steel prices and demand. Recently he also got a reprieve from import tariffs on steel imposed by the US and Europe and a one-time $832 million saving from a new labor contract signed last year with his US workers.
With networth of INR 85,100 Crore, Shiv Nadar (72), the founder and chairman of HCL, the fourth largest software service has acquired Broomfield, Colorado-based mortgage business process and fulfilment service providing company, Urban Fulfilment Services for $30million in August 2017. HCL has introduced innovative hiring procedures, where the company hire and train students straight out of high school – a first of its kind initiative amongst the large cap companies.
Founder of multi-billion dollar IT giant Wipro, Azim Premji (72) registered a fortune of INR 79,300 Crore. He founded the Premji Invest in 2006 and is a private equity fund that manages almost US$2bn of his personal wealth by investing in capital markets and also by picking up minority stakes in start-ups across India, the US and China.
Table 1: Hurun India Rich List 2017 – Top 10
| Rank | Name | Wealth INR Crore | Change | Company | Age | Residence |
| 1- | Mukesh Ambani | 257,900 | 58% | Reliance | 60 | Maharashtra |
| 2– | Dilip Shanghvi | 89,000 | -27% | Sun Pharma | 61 | Maharashtra |
| 3↑ | LN Mittal | 88,200 | 32% | ArcelorMittal | 67 | London |
| 4↑ | Shiv Nadar | 85,100 | 16% | HCL | 72 | Delhi |
| 5↑ | Azim Premji | 79,300 | 6% | Wipro | 72 | Karnataka |
| 6↓ | Cyrus S Poonawalla | 71,100 | -9% | Serum Institute of India | 76 | Maharashtra |
| 7* | Gautam Adani | 70,600 | 66% | Adani Enterprises | 55 | Gujarat |
| 8* | Acharya Balkrishna | 70,000 | 173% | Patanjali Ayurved | 45 | Uttarakhand |
| 9– | Uday Kotak | 62,700 | 21% | Kotak Mahindra Bank | 58 | Maharashtra |
| 10- | Sunil Mittal & Family | 56,500 | 12% | Bharti Airtel | 59 | Delhi |
↑ Rank increase yoy ↓ Rank decrease yoy – No Rank change yoy * New to Top 10
With networth of INR 71,100 Crore, Billionaire Cyrus S Poonawalla (76) of Serum Institute secures the sixth position in the Hurun India Rich List. He is investing $150 million in a new factory to make a range of vaccines, including for dengue and pneumonia. Poonawalla recently contributed $2.5 million for a hospital named after his late wife, which focuses on the under privileged children and adults.
With networth of INR 70,600 Crore, Port Tycoon, Gautam Adani (55) Chairman of Adani Group made the highest investment commitment of INR 49,000 Crore in Gujarat which would create direct and indirect job opportunities for 25,000 people. This wealth increase is despite a strong controversy he faced from an environmental campaign that was launched to stop the development of Adani Group’s $16.5 billion coal mine in Queensland.
Acharya Balkrishna (45), CEO of Patanjali is now officially part of India Rich List Top 10 and has secured a second place in Indian FMCG market share in under 5 years. The company, with a turnover of INR 10,561 crore in 2016-2017 has been a close competition to major international brands. He owns close to 94 % of Patanjali Ayurved and is the brain behind the admirable growth of Patanjali as a consumer brand.
Banker Uday Kotak (58), the managing director of Kotak Mahindra Bank, has a networth of INR 62,700Crore. The board of the Kotak Mahindra Bank decided to raise over INR 5,300Crore by diluting 3.3 % of the promoters holding, for pursuing a host of opportunities, including consolidation.
Indian telecom magnate, Sunil Mittal (59), the founder and chairman of Bharti Airtel has a networth of INR 56,500 Crore. Mittal recently signed the agreement to acquire Telenor’s Indian and bought additional 4G spectrum to fight off the mighty rival. He launched the Airtel Payment Bank (APB), a joint venture with Kotak Mahindra Bank and has committed INR 3,000 crore to develop a pan-India banking network and digital payments ecosystem.
The Richest Indian families
More than 50% of Indian business listed in the rich list is run by families. This year, Hurun Report has split the families based on available ownership information.
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