Rich list, India: 2016

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

New World Wealth report, 2016

The Times of India, Aug 24 2016

India ranks 7th on wealthiest list: Report

India has figured among the top 10 wealthiest countries in the world with a total individual wealth of $5,600 billion, while the US topped the chart. According to a report by New World Wealth, India was ranked 7th ahead of Canada ($4,700 billion), Australia ($4,500 billion) and Italy (USD 4,400 billion), which came in at 8th, 9th and 10th slots, respectively .

The US is the wealthiest in the world in terms of total individual wealth held ($48,900 billion), while China stood second and Japan third, with total individual wealth of $17,400 billion and $15,100 billion, respectively .

Richest entrepreneurs under 40

The Times of India, Sep 08 2016

Richest Indians under 40 years of age and the richest Indians, 2016; Graphic courtesy: The Times of India, September 8, 2016

Avik Das

Paytm founder Vijay Shekhar Sharma's wealth surged by 162% in 2015-16, making him the richest entrepreneur under 40 in Hurun's India rich list for 2016.

Sharma is worth about Rs 7,300 crore, up from Rs 2,824 crore in 2015. The rise in wealth can be attributed to Chinese e-commerce behemoth Alibaba's investment in the company and subsequent funding rounds that have raised Paytm's valuation. Sharma holds about 21% stake in the company.

After Sharma, Indigo co-founder Rakesh Gangawal has seen the biggest increase in we alth of more than 150%. His wealth stood at Rs 15,900 crore, thanks to the share price performance of the airline post its IPO last year. Anas Rahman Junaid, MDIndia of Hurun Report, a monthly magazine that focusses on high net-worth individuals in China and India, said sub dued investor interest in e-commerce and online businesses had reduced valuations of ecommerce unicorns in 2016. Several mutual funds with holdings in Flipkart have lowered the valuations of those stakes in the past few months.

Bhavish Aggarwal of Ola, the youngest in the list at 30, is worth Rs 3,000 crore, up from Rs 2,385 crore in last year's list. His co-founder Ankit Bhati is no longer in the list, which looks at those with wealth of Rs 1,600 crore and more. Last year, Bhati's wealth was exactly the same as Aggarwal's. Hurun's Junaid said Bhati does not have as much stake as Aggarwal does at present.