Top 10 Richest Indian People by Net Worth in 2024

Introduction

In 2024, India is home to some of the wealthiest individuals in the world. The net worth of these individuals is a testament to their success and influence in various industries. In this blog post, we will take a closer look at the top 10 richest Indian people by net worth in 2024.

Top 10 Richest Indian People by Net Worth in 2024

Mukesh Ambani: The Titan of Industry

Mukesh Ambani, the chairman of Reliance Industries, continues to hold the top spot as the richest person in India. His diverse business interests and strategic investments have significantly contributed to his substantial net worth, which stands at an impressive $124.2 billion. Ambani’s empire spans across petrochemicals, oil and gas, telecom, and retail, making Reliance Industries a household name in India and beyond. His visionary leadership and relentless pursuit of innovation have propelled the company to new heights, ensuring its dominance in the Indian market.

One of Ambani’s most notable achievements is the launch and expansion of Jio, the telecom giant that revolutionized the industry by making data affordable and accessible to millions of Indians. This move not only disrupted the telecom sector but also paved the way for a digital transformation across the country. Under his leadership, Reliance Industries has also ventured into the retail sector with Reliance Retail, which has become one of the largest and most profitable retail chains in India.

Ambani’s commitment to sustainability and green energy is evident through Reliance’s investments in renewable energy projects. The company’s focus on innovation and technology has also led to significant advancements in various sectors, including healthcare and education. Mukesh Ambani’s philanthropic efforts, through the Reliance Foundation, have further solidified his reputation as a leader dedicated to the betterment of society.

Gautam Adani: The Infrastructure Mogul

Gautam Adani, the founder and chairman of the Adani Group, has seen significant growth in his net worth due to the success of his conglomerate, which has interests in ports, logistics, energy, and agriculture. With a net worth of $83 billion, Adani ranks as the second richest person in India. His visionary approach and strategic investments have transformed the Adani Group into a global powerhouse, with a strong presence in multiple sectors.

Adani’s journey began with a modest trading business, which he expanded into a diversified conglomerate. The Adani Group’s flagship project, Mundra Port, is the largest commercial port in India and a testament to Adani’s vision and execution capabilities. The group’s foray into the energy sector, particularly renewable energy, has positioned it as a leader in sustainable development. Adani Green Energy, a subsidiary of the Adani Group, is one of the largest renewable energy companies in the world, with a significant portfolio of solar and wind projects.

In addition to energy and infrastructure, the Adani Group has made substantial investments in agriculture, logistics, and real estate. Adani’s commitment to nation-building and sustainable development is evident through his various initiatives aimed at improving infrastructure and creating jobs. His philanthropic efforts, through the Adani Foundation, focus on education, healthcare, and community development, further highlighting his dedication to social causes.

Gautam Adani’s strategic vision and relentless pursuit of growth have not only increased his personal wealth but also contributed significantly to India’s economic development. His ability to identify and capitalize on emerging opportunities has made the Adani Group a key player in the global market, ensuring its continued success and expansion.

Savitri Jindal & Family: The Steel Magnates

Savitri Jindal and her family have amassed considerable wealth through their steel and power business, making them one of the wealthiest families in India. With a net worth of $41.8 billion, the Jindal family controls the JSW Group, a major player in the steel industry. The JSW Group, under the leadership of Savitri Jindal, has become one of the largest steel producers in India, contributing significantly to the country’s infrastructure development. The group’s interests also extend to power, cement, and infrastructure, showcasing their diversified business portfolio.

Savitri Jindal’s journey began after the untimely death of her husband, O.P. Jindal, in 2005. She took over the reins of the business and has since been instrumental in its growth and expansion. Her leadership has not only strengthened the company’s position in the market but also ensured its sustainability and long-term success. The Jindal family’s commitment to innovation and excellence has driven the JSW Group to new heights, making it a key player in the global steel industry.

In addition to their business acumen, the Jindal family is known for their philanthropic efforts. Savitri Jindal has been actively involved in various social causes, focusing on education, healthcare, and community development. The family’s contributions to society have earned them widespread recognition and respect, further solidifying their legacy as one of India’s most influential families.

Shiv Nadar: The Tech Visionary

Shiv Nadar, the founder of HCL Technologies, has made a name for himself in the IT industry, leading to a substantial increase in his net worth. With a net worth of $35.7 billion, Nadar’s contributions to the IT sector have been monumental. HCL Technologies, which he founded in 1976, has emerged as a global IT services company, providing innovative solutions to clients worldwide. Nadar’s visionary leadership and focus on technology have been key drivers of the company’s success.

Nadar’s journey in the IT industry began with a small team of engineers working out of a garage. Today, HCL Technologies is one of India’s largest software services providers, employing over 225,000 people across 60 countries. The company’s growth has been fueled by its commitment to innovation, customer-centric approach, and strategic acquisitions. Nadar’s emphasis on research and development has also played a crucial role in keeping HCL at the forefront of technological advancements.

Beyond his business achievements, Shiv Nadar is known for his philanthropic initiatives. The Shiv Nadar Foundation, established in 1994, focuses on education and has set up several institutions, including Shiv Nadar University and VidyaGyan Leadership Academy. Nadar’s dedication to education and social causes has had a profound impact on society, making him one of India’s leading philanthropists.

Dilip Shanghvi: The Pharmaceutical Leader

Dilip Shanghvi, the founder of Sun Pharmaceuticals, has established himself as one of the leading figures in the pharmaceutical industry, contributing to his impressive net worth. With a net worth of $25.7 billion, Shanghvi’s journey in the pharmaceutical sector began in 1983 when he borrowed $200 from his father to start Sun Pharmaceutical Industries. The company initially focused on producing psychiatric drugs but has since expanded its portfolio to include a wide range of generic medicines.

Under Shanghvi’s leadership, Sun Pharma has grown to become one of the largest pharmaceutical companies in India, with a significant presence in international markets. The company’s growth has been driven by strategic acquisitions, including the purchase of Ranbaxy Laboratories in 2014. This acquisition not only expanded Sun Pharma’s product portfolio but also strengthened its position in the global market.

Shanghvi’s focus on research and development has been a key factor in the company’s success. Sun Pharma invests heavily in R&D to develop innovative and affordable medicines, addressing the healthcare needs of millions of people worldwide. Shanghvi’s contributions to the pharmaceutical industry have earned him numerous accolades and recognition, solidifying his status as a leading figure in the sector.

Kumar Birla: The Diversified Industrialist

Kumar Birla, the chairman of the Aditya Birla Group, has continued to expand his family’s business empire, resulting in a significant increase in his net worth, which stands at $23.96 billion. The Aditya Birla Group operates in various industries, including alloys, concrete, fabrics, and telecom. Birla’s leadership has been instrumental in expanding the group’s global footprint and diversifying its business portfolio. His strategic vision and commitment to innovation have driven the group’s growth, making it one of the largest conglomerates in India.

Under Birla’s leadership, the Aditya Birla Group has made significant strides in the cement and metals industries, with UltraTech Cement and Hindalco Industries becoming market leaders. The group’s foray into the telecommunications sector with Vodafone Idea, although challenging, showcased Birla’s willingness to take bold risks. Despite the setbacks, Birla’s resilience and strategic acumen have ensured the group’s continued success and expansion.

Birla’s commitment to sustainability and corporate social responsibility has further strengthened the group’s reputation. The Aditya Birla Group has implemented numerous initiatives aimed at reducing its environmental footprint and promoting social welfare. Birla’s philanthropic efforts, through the Aditya Birla Foundation, focus on education, healthcare, and rural development, making a positive impact on society.

Cyrus Poonawalla: The Vaccine King

Cyrus Poonawalla, the founder of the Serum Institute of India, has played a crucial role in the production of vaccines, leading to a substantial rise in his net worth, which is now $22.39 billion. The Serum Institute of India, established in 1966, is the world’s largest vaccine manufacturer by volume, producing over 1.5 billion doses annually. Poonawalla’s visionary leadership and commitment to public health have been instrumental in the company’s growth and success.

During the COVID-19 pandemic, the Serum Institute’s production of the Covishield vaccine, developed in collaboration with AstraZeneca and Oxford University, was pivotal in India’s vaccination drive. Poonawalla’s investments in expanding the company’s manufacturing capabilities ensured a steady supply of vaccines, not only for India but also for other countries in need. His efforts have been widely acknowledged, earning him the title of the “Vaccine King.”

Poonawalla’s contributions to public health extend beyond COVID-19. The Serum Institute produces vaccines for a range of diseases, including measles, polio, and influenza, making life-saving immunizations accessible to millions worldwide. Poonawalla’s philanthropic initiatives, through the Poonawalla Foundation, focus on healthcare, education, and community development, further highlighting his dedication to social causes.

Radhakishan Damani: The Retail Tycoon

Radhakishan Damani, the founder of DMart, has seen remarkable success in the retail industry, contributing to his impressive net worth of $21.82 billion. Avenue Supermarts, the parent company of DMart, has become one of India’s leading retail chains, known for its cost-effective pricing and wide range of products. Damani’s business acumen and customer-centric approach have been key drivers of DMart’s growth and popularity.

Damani’s journey in the retail sector began in 2002 with a single store in Mumbai. Today, DMart operates over 300 stores across India, offering a diverse range of products, from groceries to household items. The company’s focus on providing value to customers through competitive pricing and efficient supply chain management has set it apart from competitors.

In addition to his success in retail, Damani is a seasoned investor with stakes in various companies, including VST Industries and India Cements. His investment portfolio and strategic acquisitions have further bolstered his wealth and influence in the business world. Despite his immense success, Damani maintains a low profile, rarely making public appearances or speaking to the media.

Kushal Pal Singh: The Real Estate Baron

Kushal Pal Singh, the chairman of DLF Limited, has made significant contributions to the real estate sector, resulting in a substantial increase in his net worth, which stands at $18.4 billion. Singh’s journey in real estate began in 1961 when he joined DLF, a company founded by his father-in-law. Over the decades, Singh transformed DLF into India’s largest real estate developer, known for its iconic commercial and residential projects.

One of Singh’s most notable achievements is the development of DLF City in Gurgaon, a sprawling township that has become a symbol of modern urban living. By acquiring land from farmers and developing it into a well-planned city, Singh revolutionized the real estate landscape in India. DLF’s portfolio includes numerous high-rise office buildings, luxury apartments, shopping malls, and leisure facilities, setting new benchmarks in the industry.

Under Singh’s leadership, DLF went public in 2007, raising $2.24 billion in one of India’s largest initial public offerings. This move not only boosted the company’s market capitalization but also solidified Singh’s position as a leading figure in the real estate sector. His strategic vision and ability to navigate the complexities of the market have been key drivers of DLF’s success.

Singh’s contributions to urban development have earned him numerous accolades, including the Padma Bhushan, one of India’s highest civilian honors. His philanthropic efforts, through the DLF Foundation, focus on education, healthcare, and community development, further highlighting his commitment to social causes. Singh’s legacy in the real estate sector is a testament to his visionary leadership and dedication to transforming India’s urban landscape.

Ravi Jaipuria: The Beverage Magnate

Ravi Jaipuria, the founder of Varun Beverages, has made a name for himself in the beverage industry, leading to a notable increase in his net worth, which is now $17.72 billion². Jaipuria’s journey began in the 1980s when he joined his family’s business as a bottler for Coca-Cola. After a family division, he switched to PepsiCo, establishing Varun Beverages, which has since become one of PepsiCo’s largest bottlers outside the United States.

Varun Beverages’ success can be attributed to Jaipuria’s strategic vision and operational excellence. The company operates numerous bottling plants across India and other countries, producing a wide range of PepsiCo beverages. Jaipuria’s focus on efficiency and quality has made Varun Beverages a key player in the beverage industry, earning it the title of PepsiCo’s International Bottler of the Year in 2022.

In addition to beverages, Jaipuria has diversified his business interests through RJ Corp, which operates in sectors such as fast food, healthcare, and education. Devyani International, a subsidiary of RJ Corp, is India’s largest franchisee of Yum! Brands, operating KFC, Pizza Hut, and Costa Coffee outlets. Jaipuria’s ability to identify and capitalize on emerging opportunities has been instrumental in his business success.

Jaipuria’s contributions to the beverage industry and his entrepreneurial spirit have earned him widespread recognition. His philanthropic efforts focus on education and healthcare, with significant investments in schools and hospitals. Jaipuria’s success story is a testament to his strategic acumen and dedication to building a diversified business empire.

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