Billionaire Gautam Adani beat Reliance Industries Chairman Mukesh Ambani to become India’s richest person in IIFL Wealth Hurun India Rich List 2022.

Adani vs Ambani

Billionaire Gautam Adani beat Reliance Industries Chairman Mukesh Ambani to become India’s richest person in IIFL Wealth Hurun India Rich List 2022.

He has been adding Rs 1,612 crore per day over the last year with a wealth of Rs 10,94,400 crore.

His net worth is now Rs 3 lakh crore more than Ambani’s.

Another feather in the cap

Gautam Adani is the only Indian to have built not one, but seven companies with a market cap of Rs 1 lakh crore even as he is quickly expanding his commodity trading company into a coal–to–port-to-energy conglomerate.

After holding the richest Indian tag for ten years, Ambani has now slipped to the second position in this year’s list with a wealth of Rs 7.94 lakh crore.

Together, Adani and Ambani account for 59% of the total wealth of the top ten richest people in India.

How times change

A decade ago in 2012, Adani’s wealth was barely one-sixth of Ambani’s.

Now as we all know he has overtaken to become the richest man in India and second richest in the world.

To add perspective, last year, Ambani was ahead of Adani’s wealth by Rs 1 lakh crore.

Now in just one year, Adani has beaten Ambani by Rs 3 lakh crore.

Others on the list

The Hurun report said that Gautam Adani has interests in power, port, renewables and energy and Ambani, who is in the second rank, is in telecom and petrochemicals.

The top 10 is further made of pharma, retail, and financial services.

“These entrepreneurs are the global leaders in their respective sectors,” the Hurun report said.

Cyrus Poonawalla is the ‘vaccine king’ of the world.

New entries, exits

Pharma tycoon Dilip Shanghvi and banking magnate Uday Kotak of Kotak Mahindra Bank re-entered the top 10.

Jay Chaudhary and Kumar Mangalam Birla are out of the top 10.

Shiv Nadar & family is ranked fourth with a fortune of Rs 1.85 lakh crore, followed by Radhakishan Damani, Vinod Shaltilal Adani, SP Hinduja & family, LN Mittal & family.

Radhakishan Damani saw his ranking move up to 5th from 15th as his net worth increased 3.8 times in the last five years.

Top entrepreneurs get younger and younger

The youngest on the rich list is Zepto founder Kaivalya Vohra who is aged 19, four years younger than the youngest last year.

A decade ago the youngest was 37.

More than 82% of the billionaires are above the age of 50, and only 0.6% are below the age of 30.

Other highlights

India has 221 billionaires this year, down 16 compared to last year.

With Rs 2,700 crore, Rangarajan S of Data Patterns is the first defence and aerospace company to feature in the list.

There are eight 8 eight new entrants from the fintech sector, three from CRED, Upstox and OneCard.

Around 280 billionaires on the list are second-generation entrepreneurs.

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