RIL Chairman Mukesh Ambani tops Hurun India Rich List 2021, Gautam Adani & family made Rs 1,000 crore per day

RIl Chairman Mukesh Ambani continues to be the richest Indian for the tenth consecutive year on the IIFL Wealth Hurun India Rich list 2021 with Rs 7,18,000 crore of personal wealth, most of which is derived from his stake in Reliance Industries. The Hurun India list names the richest individuals in the country having a wealth of Rs 1,000 crore or more as of September 15, 2021. In the 2021 edition, the list had 1,007 Indians.

Meanwhile, RIL becomes the first Indian company to cross the $200bn (Rs 15 lakh crore) market cap driven by retail and telecom operations. Within four decades of operation, RIL has become the 57th most valuable firm in the world according to the Hurun Global 500 Most Valuable Companies 2021 list.

With Rs 5,05,900 crore, Gautam Adani & family moved up two places to the second spot in the IIFL Wealth Hurun India Rich List 2021. The Adani group has a combined market capitalisation of Rs 9 lakh crore, except Adani Power, all listed companies are valued at more than a lakh crore.

“Gautam Adani is the only Indian to build not one, but five Rs 1 lakh crore companies,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.

The IIFL Wealth Hurun India Rich List showed that Gautam Adani and family managed to earn Rs 1,000 crore a day over the last year. Adani also emerged as the second richest in Asia for the first time.

Overall, the wealth of 13 individuals stood at Rs 1 lakh crore or more, up from 5 on last year’s IIFL Wealth Hurun India Rich List.

Commenting on the launch, Karan Bhagat, founder, MD and CEO, IIFL Wealth, said, “The rising wealth creation documented in IIFL Wealth Hurun India Rich List 2021 is a reflection of the robust foundation of the Indian businesses and the confidence they command from their respective stakeholders. Key facts from the list that stand out for us are the rise of women wealth creators, the reduction in average age, and the inclusion of Tier 2 cities such as Pune, Rajkot, Surat, Faridabad and Ludhiana in the top 20.”

Shiv Nadar of HCL, retained the third rank, as HCL’s limited exposure to Covid affected segments such as travel, retail and hospitality resulted in a 67% increase in his wealth to Rs 2,36,600 crore. For the 12 months that ended in December 2020, HCL became only the third Indian IT company to break through the $10bn revenue mark.

SP Hinduja and family moved down two positions to the fourth rank in the list. The brothers saw the valuation up by 53% to Rs 2,20,000 crore backed by the performance of their flagship companies such as Ashok Leyland and IndusInd Bank, whose share price went up by 74% and 61% respectively. The brothers are based between Mumbai, London and Geneva.

LN Mittal and family moved up eight positions to the fifth rank with a wealth of Rs 1,74,400 crore. The biggest steelmaker outside of China ArcelorMittal reported its best quarter since 2008 backed by strong demand from the construction, infrastructure and renewable energy sectors. Continued demand recovery and higher steel selling prices helped ArcelorMittal to triple its share price over the year.

Cyrus S Poonawalla of Serum Institute of India occupies the sixth position. Poonawalla’s wealth increased by 74% to Rs 1,63,700 crore, on the back of providing 60 crore doses or 92% of the Covid-19 vaccines delivered in India. In June 2020, Poonawalla debuted the Top 100 in Hurun Global Rich List.

With Rs 1,54,300 crore, Radhakishan Damani of Avenue Supermarts, retained the seventh position in the IIFL Wealth Hurun India Rich List 2021. Since its IPO in 2017, Avenue Supermarts’ share price has increased by more than 500% and made its CEO Ignatius Navil Noronha the richest professional manager residing in India with a net worth of Rs 5,100 crore.

With Rs 1,31,600 crore, Vinod Shantilal Adani and family moved up twelve places to eighth rank in IIFL Wealth Hurun India Rich List 2021. Residing in Dubai, Adani manages trading businesses in Dubai, Singapore and Jakarta.