TOP 10 RICHEST INDIANS
India has generated a large number of billionaires, many of whom are among the world’s wealthiest people. Indian billionaires from a range of industries have made major contributions to the country’s economy. In volatile market conditions, wealth is bound to fluctuate, especially since the majority of billionaires’ fortunes are invested in publicly traded stocks.
1. Mukesh Ambani
Mukesh Ambani has a net worth of $100.0 billion, placing him tenth on the list of the world’s wealthiest people in 2022. The founder and chairman of Reliance Industries have holdings in petrochemicals, oil and gas, retail, and telecommunications. The launch of 4G phone services by Reliance in the Indian telecom sector in 2016 caused a pricing war, producing powerful whirls and putting numerous networks out of business. During the COVID-19 lockdown, Mukesh Ambani sold a third of Jio to investors such as Google and Facebook, raising more than $20 billion.
2. Gautam Adani
Gautam Adani richest person in India, with a staggering net worth of $112.6 billion. Gautam Adani owns Mundra, Gujarat’s largest port. Adani Group’s holdings span industries such as power generation and transmission, real estate, commodities, and infrastructure. Adani acquired a 74% stake in India’s second busiest airport, Mumbai International Airport, in September 2020. Adani also owns Australia’s Abbot Point coal mining project.
3. Shiv Nadar
Shiv Nadar, the cofounder of HCL, is the third richest billionaire in India, with an estimated wealth of $28.7 billion in 2022. HCL began manufacturing calculators and microprocessors in 1976 and is now one of the largest software service providers in the country, with a $102 billion revenue. HCL Technologies employs 169,000 people in 50 countries. Shiv Nadar’s daughter took over as CEO of HCL after her father retired in 2020. Shiv Nadar is currently chairman emeritus. He is a leading philanthropist in the country, having donated over $662 million to the Shiv Nadar Foundation to support educational causes.
4. Radhakishan Damini
Radhakishan Damani’s net worth of $20.2 billion places him fourth among India’s richest people. He was the Avenue Supermarket champion and the country’s retail king after the supermarket chain completed the I|PO in March 2017. He began retailing in India with just one supermarket in a Mumbai suburb. The retail chain now operates over 221 DMart locations across the country. Damani also has a stake in the tobacco company VST and India Cements. He owns the 156-room Radisson Blu Resort in Alibag, a popular beachfront resort near Mumbai.
5. Cyrus Poonawalla
Cyrus Poonawalla’s net worth is $25.8 billion, making him India’s fifth richest person in 2022. In 1966, he founded the Serum Institute of India, which is now the world’s largest vaccine manufacturer in terms of doses. The company manufactures more than 1.5 billion doses of flu, polio, and measles vaccines. His son, Adar, is the CEO of Serum, which has also invested nearly $800 million in the construction of a new factory to manufacture Covid-19 vaccines.
6. Lakshmi Mittal
Lakshmi Mittal, who has a net worth of $182 billion, is ranked sixth on the list of India’s richest people in 2022. He is the chairman of ArcelorMittal, the world’s largest steel and mining company by output, with $53.3 billion in revenue. Arcelor and Nippon Steel acquired Essar Steel in 2019, which was previously controlled by billionaires Ravi Ruia and Shashi. Lakshmi Mittal remains Arcelor Mittal’s executive chairman despite handing over the CEO position to his son Aditya Mittal.
7. Savitri Jindal
Savitri Jindal and his family are the seventh richest people in India, with a net worth of $19.9 billion in 2022. Jindal Group’s interests include power, cement, infrastructure, and steel. Savitri Jindal, the widow of Om Prakash Jindal, the founder of the Jindal Group, now chairs the organization. Om Prakash Jindal died in a helicopter crash in 2005, and the group’s businesses were divided among his four sons.
8. Birla Kumar
Kumar Birla is India’s eighth richest person, with a net worth of $17.5 billion. He is the Aditya Birla Group’s CEO and the commodities king, with a $46 billion revenue. In addition to telecom and financial services, the group has interests in aluminum and cement. Kumar Birla stepped down as chairman of Vodafone India in August 2021, after which Idea Cellular and Vodafone India merged in 2018.
9. Dillip Shanghvi
Dilip Shanghvi’s net worth of $16.3 billion places him ninth among the country’s richest people in 2022. His father gave him $200 in 1983 to start Sun Pharma, which manufactured psychiatric drugs. With annual revenue of $4.5 billion, the company is now one of the nation’s leaders in pharmaceutical supplies. Sun Pharma expanded through several acquisitions, the most notable of which was the $4 billion purchase of Ranbaxy Laboratories in 2014. Shanghvi has recently invested in oil and gas as well as renewable energy.
10. Sunil Mittal
Sunil Mittal ranks tenth on the list of India’s top ten richest people, with a net worth of $15.3 billion. Sunil Bharti Mittal, the founder and chairman of Bharti Enterprises, owns India’s second-largest telecom company, Bharti Airtel. Mittal is also known for his contributions to Indian education through the Bharti Foundation, the philanthropic arm of Bharti Enterprises.
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