At Rs 5 trn, Adani now Asia's 2nd richest: IIFL Wealth-Hurun India report

Gautam Adani toppled China's bottled water producer Zhong Shanshan as Asia's second richest (Photo: Bloomberg)

India has achieved the milestone of having over 1,000 individuals with net worth of Rs 1,000 crore, said Hurun India.

The IIFL Wealth-Hurun India Rich List 2021 revealed that 1,007 individuals across 119 cities have a net worth of Rs 1,000 crore.

The report cited that cumulative wealth was up 51 per cent, while average wealth increased by 25 per cent.

Besides, it showed that 894 individuals saw their wealth increase or stay the same, of which 229 are new faces, while 113 saw their wealth drop and there were 51 dropouts.

Currently, India has 237 billionaires, up 58 compared to last year.

"While 'Chemicals' and 'Software' sectors added the greatest number of new entrants to the list, Pharma is still at number one and has contributed 130 entrants to the list. The youngest in the list is aged 23, three years younger than the youngest last year."

Furthermore, the list report pointed out that Reliance Industries' Chairman and Managing Director Mukesh Ambani continued to be the richest man in India for the 10th consecutive year with a wealth of Rs 7.18 trillion.

"With Rs 5.05 trillion, 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 trillion, 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. Adani toppled China's bottled water producer Zhong Shanshan as Asia's second richest.

 

In addition, 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 per cent increase in his wealth to Rs 2.36 trillion.

For the 12 months that ended in December 2020, HCL became only the third Indian IT company to break through the $10 billion revenue mark.

 


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel