This is a collection of articles archived for the excellence of their content.

Highlights

Damani, Balkrishna enter list

HURUN INDIA RICH LIST 2017

Better than expected corporate results in 2017 offset the impact of demonetisation

Mukesh Ambani’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

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: 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

Ranking

Top 10

Table 1: Hurun India Rich List 2017 – Top 10

Rank	Name	Wealth INR Crore	Change	Company	Age	Residence
1-	Mukesh Ambani	2,57,900	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

Source: Hurun India Rich List. For more details visit www.hurunindia.net

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.

Hurun India Rich List 2017 - Top 100

Rank	Change	Name	Wealth INR Cr	% change	Company	Industry	Age		Selfmade Score
1	0	Mukesh Ambani	257,900	58%	Reliance	Oil & Gas	60	Mumbai	3
2	0	Dilip Shanghvi	89,000	-27%	Sun Pharma	Pharmaceuticals	61	Mumbai	4
3	5	LN Mittal	88,200	32%	ArcelorMittal	Metals & Mining	67	London	3
4	3	Shiv Nadar	85,100	16%	HCL	Software & Services	72	New Delhi	5
5	1	Azim Premji	79,300	6%	Wipro	Software & Services	72	Bengaluru	3
6	-1	Cyrus S Poonawalla	71,100	-9%	Serum Institute of India	Pharmaceuticals	76	Pune	5
7	5	Gautam Adani	70,600	66%	Adani Enterprises	Diversified	55	Ahmedabad	5
8	17	Acharya Balkrishna	70,000	173%	Patanjali Ayurved	FMCG	45	Haridwar	4
9	0	Uday Kotak	62,700	21%	Kotak Mahindra	Financial Services	58	Mumbai	5
10	0	Sunil Mittal & Family	56,500	12%	Bharti Airtel	Telecom Services	59	New Delhi	5
11	0	Kumar Mangalam Birla	51,700	13%	Aditya Birla	Diversified	50	Mumbai	3
12	New	Cyrus Pallonji Mistry	49,300	New	Tata Sons	Diversified	49	Mumbai	3
12	New	Shapoor Pallonji Mistry	49,300	New	Tata Sons	Diversified	52	Monaco	3
14	4	Savitri Jindal & Family	46,500	33%	JSW Steel	Metals & Mining	67	Hisar	1
15	0	Benu Gopal Bangur	44,600	14%	Shree Cements	Construction Materials	83	Kolkata	3
16	5	Pankaj Patel	44,500	43%	Cadila	Pharmaceuticals	64	Ahmedabad	3
17	3	Vikram Lal	44,200	30%	Eicher Motors	Automobiles & Auto Components	75	New Delhi	3
18	12	Rahul Bajaj	43,900	112%	Bajaj Auto	Automobiles & Auto Components	78	Pune	3
19	30	Ajay Piramal	42,900	186%	Piramal Enterprise	Investments	67	Mumbai	3
20	23	Rishad Naoroji	37,800	140%	Godrej	Consumer Durables	65	Mumbai	1
20	23	Nadir Godrej	37,800	140%	Godrej	Consumer Durables	65	Mumbai	3
20	23	Smitha V Crishna	37,800	140%	Godrej	Consumer Durables	66	Mumbai	3
20	23	Jamshyd Godrej	37,800	140%	Godrej	Consumer Durables	68	Mumbai	3
20	23	Adi Godrej	37,800	140%	Godrej	Consumer Durables	75	Mumbai	3
25	-6	Micky Jagtiani	34,700	1%	Landmark	Retailing	65	Dubai	5
26	-9	Subhash Chandra	32,800	-7%	Zee	Media	65	Mumbai	4
27	4	Nusli Wadia	32,500	59%	Britannia	FMCG	73	Mumbai	3
28	-12	Yusuffali MA	31,900	-13%	Emke	Retailing	61	Abu Dhabi	5
29	-5	Indu Jain	30,300	8%	Bennett Coleman	Media	80	New Delhi	3
30	77	Radhakishan Damani	29,700	Split	Avenue Supermarts	Retailing	62	Mumbai	5
31	1	Harsh Mariwala	28,000	43%	Marico	FMCG	66	Mumbai	3
32	-3	Kushal Pal Singh	27,400	18%	DLF	Realty	86	New Delhi	3
33	2	Vivek Chaand Sehgal	27,000	43%	Motherson Sumi System	Automobiles & Auto Components	60	Melbourne	3
34	-12	Anil Ambani	26,800	-6%	ADA Reliance	Diversified	58	Mumbai	2
35	-7	Ashwin Dani	25,900	4%	Asian Paints	Chemicals & Petrochemicals	74	Mumbai	3
36	6	Kalanithi Maran	25,100	64%	Sun Network	Media	52	Chennai	4
37	-33	SP Hinduja	24,300	Split	Hinduja Group	Diversified	81	London	3
37	New	GP Hinduja	24,300	New	Hinduja Group	Diversified	77	London	3
37	New	PP Hinduja	24,300	New	Hinduja Group	Diversified	72	Geneva	3
37	New	AP Hinduja	24,300	New	Hinduja Group	Diversified	67	Mumbai	3
41	-7	Vijay Chauhan & Family	22,800	19%	Parle Products	FMCG	80	Mumbai	3
42	26	B Parthasaradhi Reddy	20,600	Split	Hetero group of companies	Pharmaceuticals	63	Hyderabad	4
43	31	Sameer Gehlaut	20,100	91%	Indiabulls Financial Services	Financial Services	43	Mumbai	4
44	-4	Rajan Raheja	19,300	14%	Exide Industries	Automobiles & Auto Components	64	Mumbai	4
45	-6	Abhay Vakil	19,100	9%	Asian Paints	Chemicals & Petrochemicals	66	Mumbai	3
45	-8	Ashwin Choksi	19,100	4%	Asian Paints	Chemicals & Petrochemicals	74	Mumbai	3
47	18	Mangal Prabhat Lodha	18,500	35%	Lodha	Realty	61	Mumbai	4
48	6	Rahul Bhatia	18,200	37%	Interglobe Aviation	Transportation	57	New Delhi	4
49	4	Sunny Varkey	17,900	25%	Gems Education	Others	60	Dubai	4
50	33	Jithendra Virwani	17,600	99%	Embassy Property Developments	Realty	51	Bengaluru	4
51	4	Anil Agarwal	17,300	26%	Vedanta Resource	Metals & Mining	64	London	4
51	22	BR Shetty	17,300	57%	NMC	Healthcare	75	Abu Dhabi	4
53	105	Kishore Biyani	17,200	259%	Future Group	Retailing	57	Mumbai	4
54	-6	Hasmukh Chudgar & Family	16,800	11%	Intas Pharma	Pharmaceuticals	84	Ahmedabad	4
55	-14	Rakesh Gangwal	16,100	1%	Interglobe Aviation	Transportation	64	Mclean	4
56	86	Adani Vinodbhai Shantilal	15,700	200%	Adani Enterprises	Diversified		Dubai	4
57	-24	PV Ramaprasad Reddy	15,600	-19%	Aurobindo Pharma	Pharmaceuticals	59	Hyderabad	4
58	12	Kiran Mazumdar-Shaw	15,400	43%	Biocon	Pharmaceuticals	64	Bengaluru	4
59	-46	Anand Burman	14,500	Split	Dabur	FMCG	65	New Delhi	3
60	-10	Chandru Raheja	13,900	-10%	Shoppers Stop	Retailing	76	Mumbai	4
61	-23	Ravi Pillai	13,600	-28%	RP	Construction & Engineering	63	Dubai	5
62	0	Prakash Lohia	12,500	3%	Indorama	Chemicals & Petrochemicals	64	London	3
63	-4	Samir Mehta	12,400	3%	Torrent Pharma	Pharmaceuticals	53	Ahmedabad	3
63	-4	Sudhir Mehta	12,400	3%	Torrent Pharma	Pharmaceuticals	63	Ahmedabad	3
65	-4	Baba Kalyani	12,000	0%	Bharat Forge	Diversified	68	Pune	3
65	2	Aloke Lohia	12,000	3%	Indorama	Chemicals & Petrochemicals	58	Bangkok	4
65	-1	Feroz Allana	12,000	2%	IFFCO	Trading		Sharjah	5
68	-32	Romesh T Wadhwani	11,800	-39%	Symphony Technology	Investments	69	Palo Alto	4
69	7	Rakesh Jhunjhunwala	11,700	12%	Rare Enterprises	Investments	57	Mumbai	5
70	New	Divyank Turakhia	11,500	New	Media.Net	Software & Services	35	Dubai	4
70	142	Anurang Jain & family	11,500	286%	Endurance Technologies	Automobiles & Auto Components	55	Aurangabad	3
72	25	Rajju Shroff	11,400	49%	United Phosphorus	Chemicals & Petrochemicals	83	Mumbai	5
73	-17	Kavitark Ram Shriram	11,200	-14%	Google	Software & Services	60	Menlo Park	4
74	New	Shamsheer Vayalil	11,100	New	VPS Healthcare	Healthcare	40	Abu Dhabi	4
75	-4	Radhe Shyam Goenka	10,600	-1%	Emami	FMCG	70	Kolkata	4
75	-4	Radhe Shyam Agarwal	10,600	-1%	Emami	FMCG	71	Kolkata	4
77	-19	Glenn Saldanha & Family	10,500	-16%	Glenmark Pharma	Pharmaceuticals	47	Mumbai	3
78	-9	Yusuf Hamied	10,300	-6%	Cipla	Pharmaceuticals	81	Mumbai	3
79	15	Vikas Oberoi	10,100	30%	Oberoi Realty	Realty	47	Mumbai	3
80	89	Dinesh Nandwana	10,000	125%	Vakranjee Software	Software & Services	54	Mumbai	4
81	18	Manoj Bhargava	9,900	28%	5 Hour Energy	FMCG	63	Farmington Hills	4
81	-2	Gurbachan Singh Dhingra	9,900	4%	Berger Paints	Chemicals & Petrochemicals	67	New Delhi	3
81	-2	Kuldip Singh Dhingra	9,900	4%	Berger Paints	Chemicals & Petrochemicals	69	New Delhi	3
81	-3	Tony Jashanmal	9,900	-3%	Jashanmal	Retailing	70	Dubai	3
85	-19	Vinod Khosla	9,800	-14%	Khosla Ventures	Investments	62	Portola Valley	4
86	33	Rana Kapoor	9,500	44%	Yes Bank	Financial Services	59	Mumbai	4
87	-10	Balkrishan Goenka	9,400	-6%	Welspun Corp	Capital Goods	51	Mumbai	4
88	New	B Vamsi Krishna	9,200	New	Hetero group	Pharmaceuticals	34	Hyderabad	3
89	25	Harsh Goenka	9,100	34%	RPG Enterprises	Diversified	59	Mumbai	3
89	38	VC Nannapaneni	9,100	50%	Natco Pharma	Pharmaceuticals	71	Hyderabad	4
91	14	Vijay Shekhar Sharma	9,000	22%	Paytm	Software & Services	39	New Delhi	4
91	New	Leena Gandhi Tewari	9,000	New	USV	Pharmaceuticals	60	Mumbai	3
91	29	Bhadresh Shah	9,000	36%	AIA Engineering	Construction & Engineering	65	Ahmedabad	4
94	74	Rajiv Poddar	8,900	98%	Balkrishna	Automobiles & Auto Components	32	Mumbai	3
94	9	Prithviraj Kothari	8,900	20%	RSBL	Jewellery	57	Mumbai	4
96	New	Gopikishan Damani	8,700	New	Avenue Supermarts	Retailing	60	Mumbai	4
97	64	P Pitchi Reddy	8,500	80%	MEIL	Construction & Engineering	59	Hyderabad	4
98	-6	Karsanbhai Patel	8,400	7%	Nirma	FMCG	73	Ahmedabad	5
98	31	Ranjan Pai	8,400	43%	Manipal Education & Medical	Others	44	Bengaluru	3
98	30	Anand Mahindra	8,400	42%	M&M	Automobiles & Auto Components	62	Mumbai	3

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.

Table 2: The top 5 Richest Indian families

Rank	Name of Family	Members	Wealth 2017 (INR Cr)	Generation	Prominent Person of the Family
1	Godrej	5	1,89,135	3	Adi Godrej
2	Hinduja	4	97,328	2	SP Hinduja
3	Adani	2	86,275	1	Gautam Adani
4	Damani	9	51,779	1	Radhakishan Damani
5	Burman	6	43,426	4	Anand Burman

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Trends

Geographical trends

Where they live.

Mumbai registered an increase of 78 individuals in the rich list and Delhi added 52. With 182 individuals, Mumbai is the capital for India’s super-rich, followed by New Delhi (117) and Bengaluru (51). With 26 new entrants, Ahmedabad breaks into top 5. With 22 and 11 India Rich Listers, Chennai and Kanpur respectively breaks into top 10 cities of residence for Hurun India Rich Listers.

There are 18 new cities in this year’s list compared to last year. Chennai and Kanpur have performed well this year with a 35% and 27% increase in number of India Rich Listers respectively and have reserved spot amongst the Top 10 cities this year. Interestingly, Udaipur has 3 Indian Rich Listers, Vadodara has 2, and Kanchipuram and Faridabad has 1 Indian Rich Lister in Hurun India Rich List 2017.

With 214 and 117 entrants respectively, Maharashtra and Delhi are the preferred states of residence for Hurun India Rich Listers. It is interesting to note that in the Hurun India Rich List 2017, 23 individuals have migrated into Maharashtra, 22 to Delhi and 13 to Karnataka to set up and establish their businesses.

Table 3: Geographical spread of Hurun India Rich List 2017

	City of Residence	Rich List Entries	Richest Individual 2017		State of Residence	Rich List Entries	Richest Individual 2017
1-	Mumbai	182	Mukesh Ambani	1	Maharashtra	214	Mukesh Ambani
2-	New Delhi	117	Shiv Nadar	2	Delhi	117	Shiv Nadar
3-	Bengaluru	51	Azim Premji	3	Karnataka	55	Azim Premji
4-	Hyderabad	36	PV Ramaprasad Reddy	4	Telangana	38	PV Ramaprasad Reddy
5↑	Ahmedabad	26	Gautam Adani	5	Gujarat	36	Gautam Adani
6↓	Kolkata	23	Benu Gopal Bangur	6	Tamil Nadu	30	Kalanithi Maran
6-	Pune	23	Cyrus S Poonawalla	7	West Bengal	23	Benu Gopal Bangur
8*	Chennai	22	Kalanithi Maran	8	Uttar Pradesh	16	Yadupati Singhania & Family
9↓	Dubai	12	Micky Jagtiani	9	Kerala	13	Joy Alukkas
10*	Kanpur	11	Yadupati Singhania & Family	10	Haryana	6	Savitri Jindal & Family
11#	London	10	LN Mittal	11	Rajasthan	5	Kailashchandra Nuwal
12#	Cochin	7	George Alexander Muthoot & Family	12	Madhya Pradesh	4	Dilip Suryavanshi
13#	Coimbatore	6	P.Nataraj, KPD Sigamani & KP Ramasamy	12	Punjab	4	SP Oswal
14#	Singapore	5	Shyam Bhartia	14	Bihar	3	Ravindra Kishore Sinha & family
15#	Abu Dhabi	4	Yusuffali MA	15	Jharkhand	2	Mukund Rungta
15#	Aurangabad	4	Anurang Jain & family
15#	Bhopal	4	Dilip Suryavanshi
15#	Gurgaon	4	Nirmal Kumar Minda
15#	Noida	4	Sunita Gupta & Rita Kumari
15#	Rajkot	4	Bhikhabhai Popatbhai Virani
15#	Surat	4	Savji Dholakia & family

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10 # New to Top 20

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Migration, trends

UAE, UK & USA are the preferred countries for migration

There are 40 immigrants in Hurun Indian Rich List 2017. 64% of them are self made. With 14 individuals, UAE is the most preferred destination for immigration, followed by 10 in UK and 8 in USA. With INR 88,200 crore, LN Mittal of ArcelorMittal is the wealthiest immigrant into UK. With a fortune of INR 31,900CR, M.A Yusuf Ali is the wealthiest immigrant into UAE.

Table 4: Hurun India Rich List 2017 – Richest Non-Resident Indians

No	Names	Wealth (INR Crore)	City	Company	Age
1	LN Mittal	88,200	London	LN Mittal	67
2	Yusuffali MA	31,900	Abu Dhabi	Emke	61
3	Vivek Chaand Sehgal	27,000	Melbourne	Motherson Sumi System	60
4	SP Hinduja	24,300	London	Hinduja Group	81
4	GP Hinduja	24,300	London	Hinduja Group	77
4	PP Hinduja	24,300	Geneva	Hinduja Group	72
7	Sunny Varkey	17,900	Dubai	Gems Education	60
8	Anil Agarwal	17,300	London	Vedanta Resource	64
9	BR Shetty	17,300	Abu Dhabi	NMC	75
10	Rakesh Gangwal	16,100	Mclean	Interglobe Aviation	64

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Biggest gainers list

Gainers

The biggest gain registered was a 321% increase by Radhakishan Damani (62), Chairman of Avenue Supermarts followed by Anurang Jain & family (55), the Managing Director of Endurance Technologies with a wealth increase of 286%.

The top three in the biggest gainers list are backed by the IPO performance of their companies. For instance, Radhakishan Damani’s wealth increase was backed by the IPO of Avenue Supermarts, which runs the D-Mart brand of stores in the supermarket chain. The shares of Avenue Supermarts were listed at a premium of 102% and rallied further 43% as on 31 July 2017.

IPO of auto component maker Endurance Technologies resulted in 286% increase in the wealth of Anurang Jain in 2017.

Another notable performer was Kishore Biyani of Future Retail who registered a 259% wealth increase. Merger of Future Retail and Bharti Retail created the biggest supermarket chain with a turnover of INR 15,000 crore and its subsequent relisting resulted in significant wealth creation for Biyani.

Table 5: Hurun India Rich List 2017 – Biggest Gainers

No	Name	Wealth (INR Crore)	% Change	Company	Age	Industry
1	Radhakishan Damani	29,700	321%	Avenue Supermarts	62	Retail
2	Anurang Jain & family	11,500	286%	Endurance Technologies	55	Automobiles & Auto Components
3	Kishore Biyani	17,200	259%	Future Group	57	Retail
4	Adani Vinodbhai Shantilal	15,700	200%	Adani Enterprises		Diversified
5	Ajay Piramal	42,700	186%	Piramal Enterprise	67	Pharmaceuticals

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Young and Rich!

All the young entrepreneurs under 40 in Hurun India Rich List 2016 are active in their respective businesses

The youngest person on the list is Eklavya Juneja (24) of Mankind Pharma

The oldest is Keshub Mahindra (94) of Mahindra & Mahindra

All the under 40 entrepreneurs in Hurun India Rich List 2017 derive their wealth from innovative technological ventures. Divyank Turakhia bootstrapped his company media.net without external funding. Rest of the entrepreneurs raised money from some of the top international funds.

“These self made entrepreneurs symbolize the new age startup entrepreneurs from India. Their success stories will further garner active international investments into Indian startup ecosystem,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India

Self-made under 40

Table 6: Hurun India Rich List 2017 – Self-made under 40

S.No	Name	Age	Wealth (INR Crore)	City	Company	Industry	Notable Investors
1	Binny Bansal	34	5,400	Bengaluru	Flipkart	e-commerce	SoftBank, Microsoft, Tencent
2	Divyank Turakhia	35	11,500	Dubai	Media.Net	Media Tech	Self funded
3	Sachin Bansal	36	5,400	Bengaluru	Flipkart	e-commerce	SoftBank, Microsoft, Tencent
4	Vijay Shekhar Sharma	39	9,000	New Delhi	Paytm	Fin Tech	Alibaba
5	Byju Raveendran	39	1,000	Bengaluru	Think and Learn	Edu Tech	Chan Zuckerberg Intiative, Tencent

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Self-made women

Women in the India Rich List increased by 300% from 15 to 53 in 2017

8.6% of the list are women of which 8 are self-made. The richest women are Savitri Jindal, 66, of OP Jindal Group with INR 46,500 crore, followed by Smitha V Crishna of Godrej, Indu Jain chairperson of Time Group. The richest self-made woman in India is biotechnology queen Kiran Mazumdar-Shaw of Biocon with INR 15,400 crore. Average age of women in the list 56.

Table 7: Hurun India Rich List 2017 – Richest self-made Women in India

NO	Name	Wealth (INR Cr)	Age	Company	Location	Industry
1	Kiran Mazumdar-Shaw	15,400	64	Biocon	Bengaluru	Pharmaceuticals
2	Vembu Radha	4,500	44	Zoho Corp	Chennai	Software & Services
3	Sheela Gautam	2,600	85	Sheela Foam	New Delhi	Consumer Durables
4	Ambiga Subramanian	2,500	42	Mu Sigma	Bengaluru	Software & Services
5	Shakuntala Shetty	2,100	55	Narayana Hrudayalaya	Bengaluru	Healthcare
6	Prabha Arora	1,700	69	Mankind Pharma	New Delhi	Pharmaceuticals
7	Urrshila Kerkar	1,400	51	Cox & Kings	Mumbai	Tourism
8	Gundavaram Vanaja Devi	1,200	64	Kaveri Seed	Hyderabad	Others

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Impact

Stock market

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.

Industry analysis

Industry analysis

At a sectorial level, Pharma / Healthcare (-12.8%) and IT (-5.1%) underperformed among the sectorial indices. All the others performed with at least 15% return – the biggest gainer was realty with a 36.3% return year to date. Indian drug makers are facing pricing pressures and greater regulatory scrutiny in their largest market, the US.

“Demonetization, GST implementation and so on have not impacted wealth creation in organized sector; infact, going by the trend in the list, the aforementioned factors seems to have positively impacted the mega rich and their companies. Despite a solid performance of the corporates, a declining trend in national GDP growth points to impact of such schemes on the unorganized sectors”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India.

With 79 individuals, Pharmaceuticals leads the list with Dilip Shanghvi as the richest individual with fortune of INR 89,000 Crore. It is followed by FMCG with 63 individuals and Chemicals & Petrochemicals with 38 individuals. Other industries that had a good year include Consumer Durables, Automobiles & Auto Component and Construction & Engineering.

BSE Realty index have surged on positives such as RERA and affordable housing initiatives by the Modi government. Consumer Durables gained over 32.7% on timely GST developments and rollout. Banking and Financial sectors gained with RBI stepping in to solve the NPA issues.

Kushal Pal Singh (86) of DLF is the richest real estate billionaire in the list with a wealth of INR 27,400 crore. Mangal Prabhat Lodha (61), founder of Lodha Group is the richest private real estate developer in the list with a wealth of INR 18,500 crore followed by Jithendra Virwani (51) of Embassy Property Developments with INR 17,600 crore.

“Formalization of Jewelry sector with 3% GST compared to 2% tax earlier has benefited the large and organized players and has further streamlined the industry value chain” says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher.

New Energy India Rich Listers: Tulsi Tanti of Suzlon Energy is the top green energy Hurun India Rich Lister with INR 2,300 crore followed by Anil Chaudhary & family of Kolkata based Vikram Solar with a net worth of INR 1,000 crores.

Pharma is still the king!

The industries that added the most number of new entrants to the list were pharmaceuticals, FMCG, Construction & Engineering and Automobiles & Auto Components. Almost all the industries added 50% more individuals than last year. Capital Goods, Construction Materials, Retailing and Transportation broke into top 10 for the first time since the inception of Hurun India Rich List 2017.

Table 8: Hurun India Rich List 2017 – Industry breakdown

No.	Industry	% in the list	2017% increase in the number of Hurun Rich Listers	Richest individual	Wealth (INR Cr)
1-	Pharmaceuticals	13%	110%	Dilip Shanghvi	89,000
2-	FMCG	10%	67%	Acharya Balkrishna	70,000
3-	Chemicals & Petrochemicals	6%	81%	Ashwin Dani	25,900
4-	Consumer Durables	6%	50%	Adi Godrej	37,800
5↑	Automobiles & Auto Components	6%	100%	Vikram Lal	44,200
6↑	Construction & Engineering	6%	140%	Ravi Pillai	13,600
7↑	Software & Services	5%	114%	Shiv Nadar	85,100
8↓	Financial Services	5%	56%	Uday Kotak	62,700
9*	Capital Goods	4%	200%	Balkrishan Goenka	9,400
10↓	Realty	4%	110%	Kushal Pal Singh	27,400

↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10

Ranking based on total number of entries from each industry

Source: Hurun Research Institute. For more details visit www.hurunindia.net

For a snapshot of the industry that added most number of new entries, refer the table below.

Table 9: Industry producing most number of new entrants

Industry	new Addition	Richest New Entrant	Wealth (INR Cr)	Company
Pharmaceuticals	43	B Vamsi Krishna	9,200	Hetero group
FMCG	28	Saket Burman, V C Burman	7,400	Dabur
Construction & Engineering	21	Kanubhai Mafatlal Patel & family	2,300	Montecarlo
Automobiles & Auto Components	18	Renu Munjal	7,000	Hero Motocorp
Capital Goods	17	Surjit Kumar Gupta	5,700	Havells India
Chemicals & Petrochemicals	17	Narendrakumar Kalyanji Parekh	5,000	Pidilite Industries

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Pharmaceuticals

Despite the underperformance of Pharma sector, it still contributes the highest to the list with 79 entries that includes16 billionaires. In 2017, the sector witnessed a 9% growth in cumulative wealth compared to 17% in 2016. But growth in per capita wealth for pharma entrepreneurs in the list declined by 50% mainly on account of wealth split and a lackluster financial performance of some of the major listed and private companies. For instance, wealth of Dilip Sanghvi, the top pharma billionaire declined by INR 32,400 crore to INR 89,000 crore due to poor performance of Sun Pharma in bourses.

FMCG

63 individuals derived their wealth from the FMCG sector and contributed 28 new entrants and 15 billionaires to this year’s list. This sector witnessed a 45% increase in wealth compared to 14% in last year. With 173% increase in wealth, Acharya Balkrishna of Patanjali Ayurved marks his entry to the top 10 list. Chandra Mohan RG of Hatsun Agro also registered an increase of 123% backed by stellar performance of his company’s share price

Chemicals & Petrochemicals

Indian chemical industry ranks 12 in the world by volume of production and have contributed 38 entrants to the list. Ashwin Dani, Abhay Vakil and Ashwin Choksi, founders of Asian paints, India’s largest paint manufacturer top the chemical entrepreneurs rich list. The sector contributes 17 new entrants to the list of which 9 are self-made.

Consumer Durables

Consumer Durable sector registered a 77% increase in cumulative wealth and is the best performing sector for 2017. It contributes 37 entrants to list, one less than chemical (38) and one more than Automobile (36). Godrej family leads the consumer durable sector with a cumulative wealth of INR 189,100 crore.

Automobiles & Auto Components

Automobile sector grew 53% year on year and has contributed 36 individuals to the list with 12 billionaires. Vikram Lal of Eicher Motors leads the sector with a wealth of INR 44,200 crore followed by Rahul Bajaj of Bajaj Auto and Vivek Chaand Sehgal of Motherson Sumi System with wealth of INR 43,900 crore and INR 27,000 crore respectively.

E-commerce in India

Online sales are nearly flat in 2016, after tripling in 2015 and doubling in 2014. The founders of ecommerce companies have shifted their focus from sales to profits by ceasing subsidised unprofitable sales and concentrated on limiting their losses dented overall sales. Some of the major companies accepted investment based on valuations significantly below their peaks, are now the new normal.

Of India’s 1.2bn population, and only a small portion of 1/5th are shopping online. This is a good opportunity for ecommerce companies. Heavily funded Amazon and Alibaba has resulted in a “bloodbath” in Indian ecommerce. For instance, SnapDeal which had valuation of US$6bn at its speak was struggling to achieve a US$1bn valuation in 2017. This year entrepreneurs such a s Kunal Bahl (SnapDeal), Bhavish Aggarwal (Ola) are some of the famous entrepreneurs who have been knocked out of the Hurun India Rich List 2017 list due to the current ecommerce market competition.

Real estate and jewelry after demonetisation

Real estate is the best performing sector in 2017, with the index returning 36.3% return – possibly because buyers deferred their purchase decision and not discard it due to demonetisation. Performance of the sector is against the general perception that real estate would be the most affected sector on contrary BSE Realty index fared a whopping 48% return after demonetization. Post demonetization, there has been an increased transparency in the purchase and payment system of property. On February 2017 government announced infrastructure status to affordable housing to encourage investment in this segment and offered tax sops to developers sitting on completed but unsold inventories.

India consumes almost all the gold it imports and last year demand was 666 metric tons which is higher than the entire gold reserve of the European Central Bank. Demonetisation and introduction of GST accelerated the gradual shift of customers from the unorganised sector that accounts 78% of the retail gems and jewelry market to the organised sector. On August 2017, Prevention of Money Laundering Act (PMLA) was applied to the gems and jewelry sector after demonetisation; it was a fallout of income-tax raids on jewelers soon after demonetisation in last November, when it was found that they sold gold and jewelry at a huge premium and accepted old currency notes as payment.

Notable Philanthropic Donations in Hurun India Philanthropy List 2016:

· Mukesh Ambani, donated INR 303 Cr towards healthcare. He channelizes his philanthropic initiative through Reliance foundation, his philanthropic arm. The primary aim of the foundation is to promote sustainable growth in India. Besides healthcare, his philanthropic interests include social & rural development and education.

· Vaccine billionaire, Cyrus S Poonawalla, who set up Serum Institute has donated INR 250 Crores. The funds raised are used for his philanthropic work, including setting up educational institutes and hospitals. His vision “Health for all with affordable vaccines” is revolutionizing the world saving millions of children around the world.

· Ajay Piramal donated INR 111 Crores through his philanthropic initiative through Piramal Foundation. It includes activities for education (PFEL), health care (Swasthya), water purification (Sarvajal), rural development (Udgam) and Women Empowerment (Piramal Udgam)

· Rakesh Jhunjhunwala has pledged INR 5,000 Crore for the welfare of the society. He is often referred to as the India’s Warren Buffet. A big supporter of various Non-Profit organizations and education trusts including Agastya and Ashoka University.

· An Indian diamantaire and philanthropic social activist, Laljibhai Patel, has pledged a donation of INR 200 Crore for the welfare of 10,000 girls of the Patidar community. He said an amount of INR 2 Lakh would be transferred to the second daughter born in the Patidar community when they would attain 21 years of age.

Other categories

Table 10: Hurun India Rich List 2017 - Self-Made Degree

Self-Made Degree	No Of Individuals	Richest Individual	Company	Age	Wealth INR Cr.
5	41	Shiv Nadar	HCL	72	85,100
4	267	Dilip Shanghvi	Sun Pharma	61	89,000
3	286	Mukesh Ambani	Reliance	60	257,900
2	10	Anil Ambani	ADA Reliance	58	26,800
1	13	Savitri Jindal & Family	JSW Steel	67	46,500

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Hurun Report continued its Self-Made Scorecard, measuring the degree to which billionaires are inherited or self-made. The scorecard is out of five, where 1 is inherited and not active in business, and 5 is self-made without help from parents.

Self-made with a little help from parents was the most common route to becoming a billionaire, featuring 51% of the list. Second was self-made without help from parents, making up 9% of the list. Third was inheriting a business and growing it into a much bigger entity, with 38% and only one person was Self-Made Degree 1.

Entrepreneurs appreciated by the government of India

40 are Padma awardees, of which four are women. BVR Mohan Reddy of Cyient has awarded Padma Shri in 2017.

There is no one in Hurun India Rich List 2016 who has received the highest civilian award, “Bharat Ratna”. 7 individuals hold either of the two awards. For instance Kiran Mazumdar Shaw of Biocon and Devi Prasad Shetty of Narayana Hrudayalaya holds both Padma Shri and Padma Bhushan. Pratap reddy of Apollo Hospitals and Ratan Tata of Tata Sons holds both Padma Vibhushan and Padma Bhushan.

Table 11: Hurun India Rich List 2017 – Padma awardees

	Award	Number	Richest	Company	Wealth (INR Cr.)
1	Padma Vibhushan	6	LN Mittal	ArcelorMittal	88,200
2	Padma Bhushan	19	Azim Premji	Wipro	79,300
3	Padma Shri	22	Dilip Shanghvi	Sun Pharma	89,000

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Padma awardee details

Table 11.1: Hurun India Rich List 2017 – Padma awardee details

Padma Award	Name	Company	Year
Vibhushan & Bhushan	Prathap Reddy	Apollo Hospitals	2010/1991
Vibhushan & Bhushan	Ratan Tata	Tata Sons	2008/2000
Vibhushan & Bhushan	Azim Premji	Wipro	2005/2011
Vibhushan & Shri	NR Narayana Murthy	Infosys	2000/2008
Vibhushan	LN Mittal	ArcelorMittal	2008
Vibhushan	Prithvi Raj Singh Oberoi	East India Hotels	2008
Bhushan & Shri	Kiran Mazumdar-Shaw	Biocon	2005/1989
Bhushan & Shri	Naresh Trehan	Medicity	1991/2001
Bhushan & Shri	Devi Prasad Shetty	Narayana Hrudayalaya	2012/2004
Bhushan	Azim Premji	Wipro	2011
Bhushan	Shiv Nadar	HCL	2008
Bhushan	Sunil Mittal	Bharti Airtel	2007
Bhushan	Indu Jain	Bennett Coleman	2016
Bhushan	Kushal Pal Singh	DLF	2010
Bhushan	Rahul Bajaj	Bajaj Auto	2001
Bhushan	Adi Godrej	Godrej	2013
Bhushan	Jamshyd Godrej	Godrej	2003
Bhushan	Baba Kalyani	Bharat Forge	2008
Bhushan	Yusuf Hamied*	Cipla	2005
Bhushan	S Gopalakrishnan	Infosys	2011
Bhushan	Analjit Singh	Max India	2011
Bhushan	Nandan Nilekani	Infosys	2006
Bhushan	Swraj Paul	Caparo Group	1983
Shri	Dilip Shanghvi	Sun Pharma	2016
Shri	Cyrus S Poonawalla	Serum	2005
Shri	Yusuffali MA	Emke	2008
Shri	Ravi Pillai	RP	2010
Shri	Sunny Varkey	Gems Education	2009
Shri	Mallika Srinivasan	TAFE	2014
Shri	BR Shetty	UAE Exchange	2009
Shri	Karsanbhai Patel	Nirma	2010
Shri	Azad Moopen	DM Healthcare	2011
Shri	Anu Aga	Thermax	2010
Shri	Jawaharlal Gangaramani	Al Fara	2010
Shri	Naresh Trehan	Medanta Medicity	1991
Shri	Shobhana Bhartia	Hindustan Times	2005
Shri	Arvind Lal	Dr. Lal PathLabs	2009
Shri	Rajinder Gupta	TridentGroup	2007
Shri	Irshad Mirza	Mirza International	2010
Shri	AVS Raju	Nagarjuna Construction	2010
Shri	DVS Raju	Gangavaram Port	2001

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Largest public traded companies

Of the publicly traded companies on the list, Mukesh Ambani’s Reliance has the highest valuation of INR 524,780 Cr (contributing 5.35% to the NIFTY index), followed by Tata Consultancy Services (owned by the Tata family) with INR 477,343 Cr and Infosys INR 232,290 Cr. Kotak Mahindra & Bharti Airtel with market cap of INR 194,110 and INR 167,011 Cr respectively.

Fortune 500: In addition to Reliance and Tata Motors, Rajesh Exports, the flagship company of Rajesh Mehta, is the only other private company in India to feature in Fortune 500.

This year’s Hurun India Rich List reveals some interesting nuggets of information

· Anand Mahindra (62) of M&M invested INR 100,000 in Kotak Group in November 1985, is now worth INR 1,400 crore - a compounded growth rate of 40 per cent over the past 32 years

· Kishore Biyani has co-authored one of the most popular business books in India till date. He co-authored this book which has sold more than 100,000 copies.

· The new top 10 entrant Acharya Balkrishna of Patanjali Ayurved has published 41 research papers on Yoga and Ayurveda. His work station doesn’t have a computer

· B.R. Shetty will invest INR 1,000 crore to produce the costliest ever Indian film titled The Mahabharata, most expensive non English language film.

· As a 16-year-old high school student in 1998, Divyank Turakhia founded Media.net with a US$600 investment. He became a millionaire at 18 and its valuation cross US$100 mn when he was 23.

Table 12: Money in Sports!

Name	Indian Premier League Team	Name	Indian Super League Team
Mukesh Ambani	Mumbai Indians	Sanjiv Goenka	Atlético de Kolkata
G M Rao	Delhi Daredevils	JSW Group	Bengaluru FC
Kalanithi Maran	Sunrisers Hyderabad	Venugopal Dhoot	FC Goa
N Srinivasan	Chennai Super Kings	Kapil Wadhawan	FC Pune City
Burman Family	Kings XI Punjab	Dheeraj Wadhawan	FC Pune City
Ness Wadia	Kings XI Punjab
Karan Paul	Kings XI Punjab

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Apart from those mentioned above, Hurun India Rich Listers have interest in other professional leagues such as Pro Kabaddi League and English Premier League. For Instance GM Rao owns UP Yodhas and Gautham Adani Owns Gujarat Fortune Giants in Pro Kabaddi League. Anuradha Jitendra Desai of Venky’s owns Blackburn Rovers F.C. and LN Mittal owns Queens Park Rangers F.C. in English Premier League.

Table 13: The Obituary – Hurun Indian Rich List 2017

Name	Company	Age at the time of death	Networth 2016 (INR Crore)
Desh Bandhu Gupta	Lupin	78	25,300
Ramesh Agarwal	DB Corp	71	5,300
Amarchand Ramji Gala	Navneet Education	85	2,500
Ramasubrahmaneya Rajha	Ramco Cements	80	2,600

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Wealth of Ramesh Agarwal was inherited equally to his sons Pawan Agarwal, Girish Agarwal and Sudhir Agarwal.

Stats: Record Highs

· Cut-off to make the list was INR 1000 Cr, with a record high of 617 individuals, up from 278 last year and 66 the year before.

· The number of dollar billionaires has jumped to a record high too, with 136 individuals, up 10 from last year.

Table 14: Table analyzing the cut off and the number of entrepreneurs in Hurun India Rich List

Year	Cut-off INR Cr	No. of people in the list	No. of $ billionaires

2012	1600	100	59
2013	1800	141	63
2014	1800	230	109
2015	1600	296	124
2016	1600	339	126
2017	1600	426	136
2017	1000	617	136

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Cut-off (in INR Cr)

Table 15: Table analyses the cut-off required for Top 10, 50 and 100

	2017 INR Cr	2016 INR Cr	2015 INR Cr	2014 INR Cr	2013 INR Cr
Top 10	56,500	50,400	47,000	44,000	46,600
Top 50	17,600	14,900	15,100	11,500	7,600
Top 100	8,400	7,600	7,900	6,500	3,800

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Table 16: Companies that produced the highest number of individuals on the list

Company Name	No. of individuals
Avenue Supermarts	9
Macleods Pharmaceuticals	7
Infosys	7
Amalgamation Group	6
Dabur	6

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Star Signs in the list

Table 17: Key Star Signs in Hurun India Rich List 2017

Rank	Birth Month	Total contribution to the list%	Richest person	Wealth INR Cr
1	Capricorn	9.9%	Smitha V Crishna	37,800
2	Taurus	9.7%	Cyrus S Poonawalla	71,000
3	Cancer	9.4%	Shiv Nadar	85,100
4	Scorpio	8.9%	Yusuffali MA	31,900
4	Aries	8.9%	Mukesh Ambani	257,900
6	Leo	8.7%	Azim Premji	79,300
7	Pisces	8.0%	Uday Kotak	62,700
7	Libra	8.0%	Dilip Shanghvi	89,000
9	Virgo	7.8%	Shapoor Pallonji Mistry	49,300
10	Gemini	7.7%	LN Mittal	88,200
11	Sagittarius	6.6%	Subhash Chandra	32,800
12	Aquarius	6.4%	Vikram Lal	42,200

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Social media followers

Social Media: Acharya Balkrishna is not only an expert in creating wealth but also the master of social media. He is the most followed entrepreneur in Facebook with 5 million followers. A snapshot of some of the social media following of the entrepreneurs below

Table 18: Social Media Followers of Hurun India Rich List 2017

Name	Number of Followers	Facebook/ Twitter
Acharya BalKrishna	56 lakhs	Facebook
Anand Mahindra	53 lakhs	Twitter
Nandan Nilekani	22 lakhs	Twitter
Harsha Goenka	12.6 lakhs	Twitter
Kiran Mazumdar Shaw	12.4 lakhs	Twitter
Uday Kotak	7.5 lakhs	Twitter
Harsh Mariwala	7.2 lakhs	Twitter
Subash Chandra	7 lakhs	Twitter
Yusuffali MA	6.5 lakhs	Facebook
Vijay Shekhar Sharma	2.1 lakhs	Twitter

Source: Hurun Research Institute. For more details visit www.hurunindia.net

Methodology

The Hurun India Rich List is a snapshot of wealth as on 31 July 2017. The exchange rate used for US$ was INR 64.1. The list relates to Indians only, defined as born or brought up in India origin their passport today.

Valuing the wealth of India’s richest is as much an art as it is a science. Sure, we have missed some, but we believe the Hurun India Rich List to be the most serious attempt to identify India’s top entrepreneurs and to measure their holdings. Our team of researchers has - for the sixth year running - traveled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, we have used First Chicago Method for valuation.

This year, we have split out siblings, so companies like Muthoot Finance have been split across four individuals.

Rich List: India, 2017: Hurun

Contents

Highlights

Damani, Balkrishna enter list

Ranking

Top 10

Hurun India Rich List 2017 - Top 100

The Richest Indian families

Trends

Geographical trends

Migration, trends

Biggest gainers list

Self-made under 40

Self-made women

Impact

Stock market

Industry analysis

Other categories

Padma awardee details

See also…

…and also

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Variants

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