India minted a new billionaire every 5 days in 2023: Hurun rich list 2024

For the first time, the Hurun India Rich List has exceeded 1,500 entries, recording individuals with wealth more than Rs 1,000 crore

India created a new billionaire every five days throughout 2023, the Hurun India Rich List 2024 revealed on Thursday.

The report reveals an extraordinary surge in wealth in India, with 1,539 ultra-wealthy individuals — an increase of 220 — appearing on this year’s list. This marks the first time the Hurun India Rich List has surpassed 1,500 entries, featuring individuals with wealth exceeding Rs 1,000 crore.

India now has 334 billionaires

The number of billionaires in India has also crossed the triple-century mark, reaching 334, six times the number recorded when the list first launched 13 years ago. Industrialist Gautam Adani and his family have secured the top position in the 2024 Hurun India Rich List, with a staggering wealth of Rs 11.6 trillion. Indian billionaires live across 134 cities, with five of the top 10 residing in the financial capital - Mumbai.

Bollywood superstar Shah Rukh Khan also debuted on the list as a billionaire with a wealth of Rs 7,300 crore. Khan’s wealth surge was attributed to his investments in IPL franchise Kolkata Knight Riders and Red Chillies Entertainment. Other notable figures include Amitabh Bachchan, Karan Johar, and Juhi Chawla.

There are 18 on the list having a whopping wealth of at least Rs 1 trillion. Mukesh Ambani’s wealth was recorded at Rs 10.1 trillion, appearing second to the Adani family on the list.

Wealth more than half of India’s GDP

The total wealth of individuals featured on the Hurun India Rich List 2024 has soared to Rs 159 trillion. This figure exceeds the combined GDP of Saudi Arabia and Switzerland and represents more than half of India’s national GDP.

The youngest billionaires on the list are Harshil Mathur and Shashank Kumar (both aged 33), who are founders of payment solution application - Razorpay.

Overall, the youngest on the list is quick-commerce Zepto’s Kaivalya Vohra. The oldest person to debut on the list is 95-year-old Hanwantbir Kaur Sahney of the NBR Bearings Company. The industrial sector gave the most individuals to the list, the report said.