India boasts a significant presence on the world’s billionaire stage, with a whopping 169 Indians securing coveted spots on the Forbes World’s Billionaires 2023 list. This represents progress compared to the previous year when 166 Indian individuals were cut down. Our focus today shines on India’s crème de la crème, the Top 10 Richest Individuals in terms of net worth.
As of September 2023, Mukesh Ambani reigns as India’s most respected billionaire.
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List of 10 Richest People in India 2023
Here is the list of 10 richest people in India in 2023:
1. Mukesh Ambani – $91.7 billion
2. Gautam Adani – $54.7 billion
3. Shiv Nadar – $28.5 billion
4. Savitri Jindal – $24.5 billion
5. Cyrus Poonawalla – $20.7 billion
6. Dilip Shanghvi – $19.0 billion
7. Kumar Birla – $17.8 billion
8. Radhakishan Damani – $16.3 billion
9. Lakshmi Mittal – $16.0 billion
10. Uday Kotak – $13.2 billion
This exclusive list derives its data from Forbes’ real-time billionaire rankings, offering a comprehensive panorama of India’s financial elite in 2023.
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The richest person in India in 2023
1. Mukesh Ambani
Age: 66 years
Net worth: $96.8 billion
Source: Reliance Industries Ltd
At 66, Mukesh Ambani has a staggering net worth of $96.8 billion, placing him at the top of India’s financial elite. As managing director and chairman of Reliance Industries, Mr Ambani presides over an empire with revenues in excess of Rs 8 lakh crore ($104 billion). Reliance Industries’ vast portfolio spans petrochemicals, oil and gas, retail, telecom and more. His three descendants – Akash, Anant and Isha – are actively involved in the Ambani dynasty, each managing different segments of this corporate behemoth.
2. Gautam Adani
Age: 61 years
Net worth: $58.5 billion
Source: Adani Group
The Adani Group is responsible for Gautam Shantilal Adani’s impressive net worth of $58.5 billion. Under his leadership, this international company controls India’s port operations and development industry. Namely, Gautam Adani’s wife, Priti Adani, is the president of the Adani Foundation, which he founded in 1996. Ports, airports, power generation and transmission and renewable energy sources are just some of the group’s diverse interests. However, Hindenburg Research accused Adani of financial malfeasance and market manipulation, resulting in a significant drop of more than $120 billion in his company’s market valuation following the publication of their research.
3. Shiv Nadar
Age: 78 years
Net worth: $29.4 billion
Source: HCL Enterprise
Shiv Nadar’s extraordinary fortune of $29.4 billion is largely attributable to his ownership of HCL. HCL has been praised for its contribution to the IT sector and serves prestigious clients including Cisco, Microsoft and Boeing. In 2008, the Government of India awarded Mr. Nadar the Padma Bhushan, the third highest civilian honor in India, in recognition of his outstanding services. Apart from his business prowess, Mr. Nadar is considered a recognized philanthropist as evidenced by his endowment of Rs 1,161 crores at the end of 2022.
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4. Savitri Jindal and family
Age: 73 years
Net worth: $23.7 billion
Source: OP Jindal Group
Savitri Jindal, a prominent Indian politician and entrepreneur, holds the esteemed position of Chairman Emeritus in the OP Jindal Group. Her four sons, Prithviraj, Sajjan, Ratan and Naveen Jindal, oversee various business divisions, including JSW Sports, contributing to the development of a vibrant sports ecosystem in India. Savitri Jindal claims to be the richest woman in India.
5. Cyrus Poonawalla
Age: 82 years
Net worth: $20.0 billion
Source: Serum Institute of India
Cyrus Poonawalla, a stalwart of vaccine development in India, is reaping the rewards of soaring sales and profits through his ownership of the privately held Serum Institute of India. His son Adar helps him in management. Serum Institute holds the prestigious title of the world’s largest vaccine producer, a status reinforced by the widespread use of the SII-developed COVID-19 vaccine.
6. Dilip Shanghvi
Age: 67 years
Net worth: $18.7 billion
Source: Sun Pharmaceuticals
Dilip Shanghvi, aged 67, amassed a fortune of $18.7 billion through his pioneering ventures in Sun Pharmaceutical Industries. Under his leadership, Sun Pharmaceutical became the first Indian pharmaceutical company to achieve a valuation of $5 billion. Shanghvi’s growth strategy included the transformative acquisition of Ranbaxy Laboratories for $4 billion in 2014.
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7. Radhakishan Shivkishan Damani
Age: 68 years
Net worth: $17 billion
Source: Avenue Supermarts Limited
Radhakishan Shivkishan Damani, a 68-year-old entrepreneur and astute investor, is known as the founder of Avenue Supermarts Limited, which oversees a network of over 200 DMart stores in India. In addition, he controls his investment ventures through Bright Star Investments Limited.
8. Kumar Birla
Age: 56 years
Net worth: $16.6 billion
Source: Hindalco Industries
Kumar Birla, aged 56, reigns supreme in the commodities arena, leading the Aditya Birla Group, which spans sectors such as aluminium, cement and financial services. Birla was also prominently present as non-executive chairman of Vodafone Idea Telecommunications; however, he relinquished this role in 2021 due to mounting debts. In 2023, he will assume the position of non-executive director. Namely, Birla’s descendants, Ananya and Aryaman, recently joined the boards of directors of leading companies, ready to infuse new ideas and enthusiasm into the business.
9. Lakshmi Mittal
Age: 73 years
Net worth: $16.4 billion
Source: ArcelorMittal
Lakshmi Mittal, 73, is chairman and chief executive officer of ArcelorMittal, the world’s largest steelmaker. In 2019, he partnered with Nippon Steel to successfully acquire Essar Steel for $5.9 billion, demonstrating his strategic acumen. Mittal retained his position as executive chairman, but gave the CEO position to his son Aditya Mittal in 2021. Production at ArcelorMittal’s Kryvyi Rih plant in Ukraine has been disrupted by recent geopolitical developments, most notably Russia’s invasion of Ukraine.
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10. Uday Kotak
Age: 64 years
Net worth: $13.5 billion
Source: Kotak Mahindra Bank
Uday Kotak, 64, is the founder and CEO of the Kotak Mahindra Group, in a prominent position. It made a tactical choice to reduce its ownership of the bank in 2020, improving compliance and regulatory flexibility. Uday Kotak is aggressively training Jay Kotak to assume a leadership position in the company.
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Categories: Trends
Source: newstars.edu.vn