Rich list, India: 2016
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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
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.
Executive remunerations
The Times of India, May 10 2016
Top HDFC MF execs remain highest paid in industry
Allirajan M
HDFC Mutual Fund (MF) executives continue to remain the highest paid in the industry , earning in excess of Rs 6 crore for 2015-16 -15-30% more than what their peers at ICICI Prudential earned during 2015-16. This, despite Prudential ICICI toppling HDFC MF from the top slot.
Milind Barve, MD of HDFC MF , was the highest paid executive in the MF in dustry earning Rs 6.25 crore in 201516. UTI MF's MD Leo Puri came second with a remuneration of around Rs 5.74 crore while ICICI Prudential MF's MD and CEO Nimesh Shah, who earned Rs 5.4 crore during the year, stood third.
HDFC's Prashant Jain remains the highest paid fund manager in the country . He was paid Rs 6.17 crore in 2015-16, which was almost 30% higher than his peer Sankaran Naren of ICICI Prudential MF . Jain's pay was 83.6% higher than Sunil Singhania, chief investment officer (CIO), equity investments, Reliance MF , the third largest fund house.
Naren, who is the CIO of ICICI Prudential MF , received Rs 4.75 crore as remuneration for 2015-16. Jain, who is also the executive director and CIO of HDFC MF , got Rs 16.3 crore by exercising his employee stock options (ESOPs). Barve's ESOPs netted him nearly Rs 20 crore. Incidentally, HDFC and Reliance were the only fund houses that published information on ESOPs.
Sundeep Sikka, the CEO of Reliance MF , the third largest fund house by assets, received Rs 10.25 crore through one-time payments and by exercising his stock options while its CIO, equity investments, Sunil Singhania, got Rs 4.65 crore through such payments and ESOPs.
The CEO of Birla Sun Life MF , the fourth largest fund house, A Balasubramanian, took home Rs 3.93 crore as pay in 2014-15. The fund house has not yet disclosed remuneration details of its top executives for 2015-16. The ratio of MD's remuneration to the median salary of employees was1:86 for ICICI Prudential or about 1.16% and was followed by HDFC at 1:68 or 1.47%, UTI at 1:43 or 2.33% and Reliance at 1:39 or 2.58%.
“With the objective of promoting transparency in remuneration policies so that executive remuneration is aligned with the interest of investors, MFsAMCs (asset management companies) should disclose information on their pay under a separate head in their respective websites,“ market regulator Sebi had said in its circular in March.
AMCs were not disclosing the remune ration paid to its star fund managers.They started to disclose compensation paid to key managerial personnel (KMP), which includes the MD.
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