Rich List: India

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2014, Feb: The Hurun Global Rich List 2014 and India

Sources: Hurun Hurun

Highlights

i) India ranks #5 on the Global Rich List with 89 billionaires.

ii) The cumulative worth of Indian billionaires is INR17,33,400 Cr.

iii) Mukesh Ambani of Reliance Industries continues to be the richest Indian with a net worth of INR1,11,800 Cr.

iv) Savitri Jindal, 64 of Jindal Steel and Power is the richest woman in India.

v) Glenn Saldana of Glenmark Pharaceuticals and Nirav Modi of Firestar International are the youngest Indian billionaires at 44.

vi) 15 Indian billionaires now reside outside of India, making India the top country to emigrate out of, followed by US billionaires, several of whom have moved out for tax reasons.

vii) Nepal was the only other South Asian country to find a place on this list of 'dollow billionaires.'

viii) USA And China Dominate with 481 And 358 Billionaires Respectively, Making Up Half The Hurun List. Russia, Uk And India Follow.

ix) US Most Attractive Country For Immigrant Billionaires with 42. China And India Top Countries Producing Billionaires, Which Have Migrated Out, With 99 And 15 Respectively.

Details

On 25 February 2014 Hurun Report today released in Beijing, China the Hurun Global Rich List 2014, a ranking of the US dollar billionaires currently found in the world. Wealth calculations are a snapshot of 17 January 2014. These are the notes on billionaires from India and should be used in context with the Hurun Global Rich List 2014. For any discrepancies in these notes with the Global Rich List, the Global Rich List should prevail.

India ranks #5 on the Global Rich List with 89 billionaires, of which 70 currently reside in India while the rest have migrated to other countries. The billionaire’s considered for the list include those who currently reside in India or are of Indian origin. The cumulative worth of Indian billionaires is INR17,33,400 Cr. The average net worth of India’s richest is INR18,600 Cr; INR6,200 Cr less than the global average. The preferred sectors are manufacturing, TMT and real estate. The sector that rewarded its investors the most was pharma which saw the billionaires invested in it increase their wealth by an average 25%. The average age of the India’s billionaires at 65 is one year older than the average age of the global billionaires. It is very interesting to note that 60% of India’s billionaires are self made.

Mukesh Ambani continues his reign as the richest person in India with a net worth of INR1,11,800 Cr, despite going through a relatively bad year with Reliance Industries stock falling 5% ,combined with rupee depreciating. His wealth came down by INR18,600 Cr in comparison to last year. He dropped 14 positions in the Hurun Global Rich List coming down from #27 to #41.

Lakshmi N Mittal retains his number two position with a net worth of INR1,05,600 Cr. He slipped 13 positions and is currently the 49th richest person in the world. His stock in ArcelorMittal dropped 6% bringing down his wealth by INR6,200 Cr. Lakshmi Mittal is one of the few billionaires who is featured on the top three position of two separate country rich lists - UK and India. Though currently residing in UK, Mittal is of Indian origin therefore shows up as the second richest man in India as well.

Dilip Sanghvi of Sun Pharma had a good year with Sun Pharma stocks going up by 52%. His wealth saw an increase of INR31,100 Cr making him the third richest in India with a personal wealth of INR83,900 Cr along with Azim Premji of Wipro.

Savitri Jindal, 64 of Jindal Steel and Power is the richest woman in India with a net worth of INR32,900 Cr followed by Indu Jain of Bennett Coleman with INR14,300 Cr and Malika Srinivasan of Tafe, who is a new entrant to the list with a net worth of INR6,800 Cr, taking the number of Indian women in the Global Rich List to three.

Glenn Saldana(INR8,100 Cr, rank 1459) of Glenmark Pharmaceuticals at 44 years of age ties for the position of youngest Indian billionaire on the list with Nirav Modi(INR6,200 Cr, rank 1752) of Firestar International, a world famous name in the diamond jewellery industry.

Brijmohan Lall Munjal & Family of Hero MotoCorp is the oldest Indian billionaire at 91 years with a net worth of INR23,600 Cr ,ranking 437 in the world.

There are 25 notable newcomers to the list led by Rishad Nawroji of Godrej with a net worth of INR13,000 Cr, rank 901.

The report said that during the past year the Indian rupee weakened 12 per cent against the US dollar, making it harder for Indians to make the cut-off.

Despite the currency fluctuations, India has improved its position over last year. In the 2014 Hurun global rich list, the country is ranked fifth with 70 billionaires, 17 more than 2013.

Ukrainian-born Leonard Blavatnik and India-born Lakshmi Mittal are the richest people living in the UK.

India: Up one place to No 5 with 70 billionaires, 17 more than 2013. Manufacturing, pharma and TMT are the preferred sectors with 17, 12 and 10 billionaires respectively. Combined wealth of the Indians billionaires comes to US$390bn. Mumbai is headquarters to most of the Indian billionaires.

Mukesh Ambani (US$18bn, rank 41) is the richest Indian. 15 Indians live outside of India, the highest proportion of any country. This past year, the Indian Rupee weakened by 12% against the US Dollar, making it harder for Indians to make the cut-off.

The US has the most number of TMT [Technology, Media and Telecoms] billionaires, followed by China. It is interesting to note that a technology hub like India does not have a TMT billionaire on the Hurun Global Rich List 2014.

Best Performing Industries by Country:

Country | Best performing Industry |Average growth of billionaires for that industry in that country

India | Airlines | 55%

Currency fluctuations against the US Dollar –

Country | % Drop in Currency Vs the US Dollar |Change in average wealth of billionaires from each country

India | 11% | -12%

The Indian rupee was the eighth worst performer among the countries that have dollar billionaires

The seven major countries whose currencies depreciated more than India’s were: Argentina 25%, Indonesia 20% ,Turkey 19%, South Africa 18%, Australia 15%, Japan 15% and Brazil 15%.

The vast majority of India’s billionaires are self-made

60% of India’s billionaires are self-made. Among the notables are Lakshmi N Mittal of ArcelorMittal, Shiv Nadar of HCL Technologie, Sunil Mittal of Bharti Airtel and Dr. Cyrus S Poonawala of Serum Institute. It is worth noting that Dr. Poonawala’s privately held Serum Institute generates profits in excess of IN1,700 Cr annually, sells world’s cheapest vaccines. Were his vaccines to be marked up to market prices his contribution to philanthropy would be quite significant.

The biggest gainers of 2014 amongst Indians in the rich list are Dilip Sanghvi and Shiv Nadar, each adding INR31,100 Cr to their wealth from 2013. Shiv Nadar’s HCL Technologies has gone up in excess of 100% in the past year. KP Singh of DLF has recorded the biggest loss of wealth having lost INR18,600 Cr owing to a 48% drop in the stock prices of DLF bringing him down from #236 to #412 in the Global Rich List.

Of India’s 89 billionaires 61 have their wealth associated with publicly traded companies while 28 are still privately held.

2014: The complete Hurun Rich list of Indian billionaires

 

India Rank	Global Rank	Name	Net worth INR Cr	Net worth USD Bn	% Change in USD net worth	Source	Country of Residence	Brought up country
1	41↓	Mukesh Ambani	1,11,800	18	-12.2%	Reliance Industries	India	India
2	49↓	Lakshmi N Mittal	1,05,600	17	-5.6%	ArcelorMittal	UK	India
3	77↑	Dilip Shanghvi	83,900	14	53.4%	Sun Pharma	India	India
3	77↑	Azim Premji	83,900	14	28.6%	Wipro	India	India
5	93↑	Pallonji Mistry	74,600	12	53.8%	Tata Sons	India	India
5	93↓	SP Hinduja & family	74,600	12	-7.7%	Hinduja Group	UK
7	105↑	Shiv Nadar	68,300	11	71.9%	Hcl	India	India
8	170↓	Kumar Birla	47,200	8	0.0%	Aditya Birla	India	India
9	202↓	Sunil Mittal & family	42,200	7	-16.0%	Bharti Airtel	India	India
10	223↓	Anil Ambani	39,800	6	12.3%	Reliance Capital	India	India
11	261↑	Dr Cyrus S Poonawalla	34,800	6	124.0%	Serum Institute	India	India
12	281↓	Savitri Jindal & family	32,900	5	-15.9%	Jindal Steel & Power	India	India
13	290↑	Micky Jagtiani	32,300	5	26.8%	Landmark Group	UAE	India
14	307*	David Reuben	31,100	5	11.1%	Global  Switch	UK	India
14	307*	Simon Reuben	31,100	5	11.1%	Global  Switch	UK	India
16	356↓	Uday Kotak	28,000	5	4.7%	Kotak Mahindra	India	India
17	392*	Jamshyd Godrej	26,100	4	50.0%	Godrej	India
17	392↓	Adi Godrej	26,100	4	-39.1%	Godrej	India	India
19	412↓	KP Singh	24,900	4	-39.4%	DLF	India	India
20	437↓	Brijmohan Lall Munjal & family	23,600	4	5.6%	Hero Moto Corp	India	Pakistan
20	437↓	Gautam Adani	23,600	4	-9.5%	Adani Enterprise	India	India
22	514↑	Desh Bandhu Gupta	20,500	3	37.5%	Lupin	India
23	569↓	Rahul Bajaj	18,600	3	-14.3%	Bajaj Auto	India	India
24	623*	Ravi Ruia	17,400	3	-31.7%	Essar	India
24	623*	Shashi Ruia	17,400	3	-31.7%	Essar	India
24	623↓	Subhash Chandra	17,400	3	-9.7%	Zee Entertainment	India	India
27	652↓	Anil Agarwal	16,800	3	-12.9%	Vedanta Resource	UK	India
28	717↑	Prakash Lohia	15,500	3	92.3%	Indorama Ventures	UK	India
28	717↓	Romesh T Wadhwani	15,500	3	8.7%	Symphony Technology	USA	India
30	761↓	Pankaj Patel	14,900	2	-7.7%	Cadila Healthcare	India	India
31	796↑	Indu Jain	14,300	2	43.8%	Bennett Coleman	India
31	796↓	Ajay Kalsi	14,300	2	9.5%	Indus Gas	India	India
31	796↓	Yusuf Hamied	14,300	2	0.0%	Cipla	India	India
31	796↓	Kalanithi Maran	14,300	2	-23.3%	Sun Network	India	India
35	853↓	Kavitark Ram Shriram	13,700	2	-21.4%	Google	USA	India
36	901*	Rishad Naoroji	13,000	2	New	Godrej	India	India
36	901↓	Malvinder & Shivinder Singh	13,000	2	-8.7%	Fortis Healthcare	India
38	954*	GV Prasad	12,400	2	25.0%	Reddy's Lab	India	India
38	954↓	MA Yousuf Ali	12,400	2	5.3%	Emke Group Of Companies	UAE	India
40	1056*	Madhukar Parekh	11,200	2	12.5%	Pidilite	India
40	1056↑	Vinod Khosla	11,200	2	80.0%	Khosla Ventures	USA	India
40	1056↓	N R Narayan Murthy	11,200	2	20.0%	Infosys	India	India
40	1056↓	Benu Gopal Bangur	11,200	2	0.0%	Shree Cement	India	India
40	1056↓	Rajan Raheja	11,200	2	-10.0%	Hathway Cable	India	India
40	1056↓	Venugopal Dhoot	11,200	2	-30.8%	Videocon	India	India
46	1137↑	Kapil & Rahul Bhatia	10,600	2	54.5%	Indigo	India	India
47	1209*	Ravi Pillai	9,900	2	New	Ravi Pillai Group	UAE	India
47	1209*	Sudhir & Samir Mehta	9,900	2	New	Torrent Group	India	India
47	1209↓	Manoj Bhargava	9,900	2	14.3%	5 Hour Energy	USA	USA
47	1209↓	Murali Divi	9,900	2	14.3%	Divi's Lab	India
47	1209↓	Ajay Piramal	9,900	2	0.0%	Piramal Enterprise	India	India
47	1209↓	Ashwin Dani	9,900	2	0.0%	Asian Paints	India
53	1282*	Suhail Rizvi	9,300	2	New	Rizvi Traverse Capital	USA	USA
53	1282*	Sunny Varkey	9,300	2	New	Gems Education	UAE	UAE
53	1282*	Swraj Paul	9,300	2	New	Caparo Group	UK	India
53	1282↓	Nandan Nilekani	9,300	2	15.4%	Infosys	India	India
57	1379*	Vijay Chauhan	8,700	1	New	Parle Products	India	India
57	1379↓	Senapathy Gopalakrihsnan	8,700	1	7.7%	Infosys	India	India
57	1379↓	Brij Bhushan Singal	8,700	1	0.0%	Bhushan Steel	India
60	1458*	Baba Kalyani	8,100	1	New	Bharat Forge	India	India
60	1458*	Samprada Singh	8,100	1	New	Alkem Laboratories	India	India
60	1458*	TS Kalyanaraman	8,100	1	New	Kalyan Jewellery	India	India
60	1458*	Vikram Lal	8,100	1	New	Eicher	India
60	1458↓	G M Rao	8,100	1	18.2%	GMR	India	India
60	1458↓	Glenn Saldanha	8,100	1	8.3%	Glenmark Pharmaceuticals	India
60	1458↓	Harsh Mariwala	8,100	1	-7.1%	Marico	India
67	1540*	Bhupendra Kumar Modi	7,500	1	New	Spice Group	Singapore	India
67	1540*	Ravi Jaipuria	7,500	1	New	RJ corp	India	India
67	1540↓	Ashwin Choksi	7,500	1	0.0%	Asian Paints	India
67	1540↓	Gautam Thapar	7,500	1	0.0%	Crompton Greaves	India	India
71	1641*	B.R.Shetty	6,800	1	New	NMC Group	UAE	India
71	1641*	Lachman Das Mittal	6,800	1	New	Sonalika Group	India	Pakistan
71	1641*	Mallika Srinivasan	6,800	1	New	TAFE	India	India
71	1641*	Mangal Prabhat Lodha	6,800	1	New	Lodha Developers	India	India
71	1641*	Mofatraj Munot	6,800	1	New	Kalpataru	India	India
71	1641*	Qimat Rai Gupta	6,800	1	New	Havells India	India	India
71	1641*	Rakesh Jhunjhunwala	6,800	1	New	Rare Enterprise	India	India
71	1641↓	Abhay Vakil	6,800	1	-8.3%	Asian Paints	India
71	1641↓	Aloke Lohia	6,800	1	-60.7%	Indorama Ventures	Thailand	India
80	1751*	Dhingra Brothers	6,200	1	New	Berger Paints	India
80	1751*	K Dinesh	6,200	1	New	Infosys	India
80	1751*	Kuldip & Gurbachan Singh Dhingra	6,200	1	New	Berger Paints	India
80	1751*	Niranjan Hiranandani	6,200	1	New	Hiranandani group	India
80	1751*	Nirav Modi	6,200	1	New	Firestar International	India	Belgium
80	1751*	Ratan Tata	6,200	1	New	Tata Sons	India	India
80	1751*	Sanjay Singal	6,200	1	New	Bhushan Power & Steel	India
80	1751↓	Anand Mahindra	6,200	1	0.0%	Mahindra & Mahindra	India	India
80	1751↓	Chandru Raheja	6,200	1	-9.1%	Shoppers Stop	India	India
80	1751↓	Shyam & Hari Bhartia	6,200	1	-23.1%	Jubilant Life Science	India

 

↑ Rank increase YOY ↓ Rank decrease YOY - No Rank change y * New to Top 20

Source: Hurun Rich List 2014 sponsored by Star River

Indian city list by number of resident billionaires

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Rank	City of residence	% of Billionaires
1	Mumbai	49%
2	New Delhi	22%
3	Bangalore	6%
4	Ahmedabad	4%
4	Gurgaon	4%
4	Pune	4%
7	Chennai	3%
7	Hyderabad	3%
9	Hisar	1%
9	Hoshiarpur	1%

 

Mumbai is home to the most number of billionaires with 33 of the nine zero club residing there, followed by 15 from Delhi and 4 from Bangalore.

Religion-wise beak-up

In the list of 88 Indian ‘dollar billionaires’ all religious minorities were represented, most of them in greater proportion than their share of the population. It would be incorrect to show the Hindus, Jains and Sikhs separately because, apart from centuries of ties, shared places of worship, shared religious practices and festivals, inter-marriages, and common caste- and surnames, there are on the list billionaires who do not wear turbans but have beards and offer prayers at Guudwaras.

Christian

Glenn Saldanha

Jewish

David Reuben

Simon Reuben

Muslim

Azim Premji

Yusuf Hamied

MA Yousuf Ali

Suhail Rizvi

Parsi

Pallonji Mistry

Dr Cyrus S Poonawalla

Jamshyd Godrej

Adi Godrej

Rishad Naoroji

Ratan Tata

2014: Knight Frank's Wealth Report ranks India at no. 6 with 60 billionaires

India to have 4th highest number of billionaires by 2023: Report

Nauzer Bharucha,TNN | Mar 6, 2014

The Times of India

MUMBAI: Number of ultra high net worth individuals in India expected to double over next 10 yrs, rising by 126 per cent in Mumbai alone and around 118 per cent in Delhi. Mumbai is on the 4th spot with a 126 per cent growth among all global cities which is expected to increase from 577 to 1,302 by 2023.

Mumbai retains its position as 16th most expensive city in luxury home sector, according to Knight Frank's 8th edition of the Wealth Report released just now.

"By 2023, only 3 countries in the world, USA, China and Russia will have more billionaires than India," Samantak Das, chief economist and director research, Knight Frank India.

India is now on 6th spot [according to Knight Frank’s Wealth Report] in the top 10 countries for billionaires as of 2013 with 60 billionaires. This number is expected to increase to 119 with a 98 per cent growth by 2023, according to a Knight Frank Wealth Report.

The 2014 Wealth Report, an annual global perspective on prime property and wealth by property management firm Knight Frank, projected that the number of billionaires in India will grow by an exponential 98 per cent to 119 in the year 2023 from 60 billionaires last year.

India will rank fourth after US, China and Russia in 2023 and will have more billionaires than the UK, Germany and France, according to the report.

"Wealth creation in India, the world's third-biggest economy, is also expected to accelerate, with the number of Ultra High Networth Individuals (UHNWIs) forecast to nearly double over the next decade," the report said.

"This reflects the more positive outlook for India's economy after 2013 was marked by capital outflows and a sharp devaluation of the rupee. This tough environment for wealth creation and preservation was reflected in the one per cent decline in the number of UHNWIs in the country during the year," it said.

The report said the number of centa-millionaires (those with $100 million in disposable assets) in India is also projected to grow 99 per cent to 761 in 2023 from 383 last year.

The country will further see an increase of 99 per cent in the number of UHNWIs to 3130 in 2023 from 1576 last year.

The growth of UHNWIs in China and India, coupled with a whopping 144 per cent increase in Indonesia and 166 per cent hike in Vietnam, will help push the total number of UHNWIs in Asia up by 43 per cent to 58,588 by 2023, overtaking the total number in North America.

The number of billionaires in Asia is also forecast to overtake the number in Europe over the next decade.

Asian cities are also expected to see the fastest growth in the number of ultra wealthy individuals over the next decade.

Mumbai will see the fourth highest rate of growth in its UHNWI population between 2013 and 2023, with this number increasing 126 per cent to 1302 in 2023 from 577 last year.

Delhi will closely follow Mumbai and will record the fifth highest growth in its UHNWIs population, which will increase 118 per cent from 147 last year to 321 in the next decade, according to the report.

By 2024, Mumbai is also projected to figure in the top 10 global cities, a ranking which it does not currently have, the report said.

Terrorism tends to occur in densely populated cities and New York, London, Moscow and Mumbai are more risky than Beijing, according to the report

Indians abroad/ Diaspora

The UK

2014 Hinduja brothers among UK's top 3 richest families

Kounteya Sinha,TNN | Mar 17, 2014

The Times of India

London-based Indian family - Srichand and Gopichand Hinduja of the Hinduja Group, a multinational conglomerate with a presence in 37 countries with businesses as diverse as trucks and lubricants to banking and healthcare, are among the five richest families in the UK which have together amassed more wealth than 20% of entire British population.

Together worth $10 billion, the Hinduja family along with four other British families have been shown to have more wealth than 12 million poorest Brits.

Britain's five wealthiest people boast a collective worth of £28.2 billion, while the total accumulated by the bottom 20% sat at £28.1 billion.

See also

Celebrity List: India Rich List: India Rich List: Nepal

See also

Celebrity List: India Rich List: India [[Rich List: Nepal]