India Added A Billionaire Every 5 Days In 2024, Shows Hurun Rich List

India has witnessed an unprecedented surge in wealth creation, with a new billionaire emerging every five days in 2023, according to the 2024 Hurun India Rich List. The country’s billionaire count has crossed the 300 mark for the first time, reaching a record 334, a 29 per cent increase from last year.

India’s ultra-wealthy population has grown by 220 individuals, totalling 1,539, each with a net worth exceeding Rs 1,000 crore, according to the list. It’s the first time the list has surpassed 1,500 entries. The remarkable growth is largely attributed to the country’s “on steroids” manufacturing sector. At least 1,016 manufacturing entrepreneurs on the Hurun Rich List added Rs 28 lakh crore to their wealth this year.

With a wealth of Rs 11.6 trillion, industrialist Gautam Adani and his family have topped the list, followed by other notable billionaires. Indian billionaires are spread across 134 cities, but Mumbai is home to five of the top 10 billionaires.

Anas Rahman Junaid, founder and chief researcher of Hurun India, attributes this growth to the “unstoppable spirit of Indian entrepreneurs” driving growth across sectors. The report highlights India’s remarkable wealth creation, with the top 20 sectors adding new faces to the list.

Over the past five years, six individuals have consistently maintained their positions in the top 10. Gautam Adani and his family lead the list, followed by Mukesh Ambani and his family, HCL’s Shiv Nadar, Serum Institute Of India founder Cyrus S Poonawalla and his family, Hinduja group chairperson Gopichand Hinduja and his family, DMart chairman Radhakishan Damani and his family.