India’s economy surpassed the United Kingdom to become the fifth-largest in the world due to the post-pandemic demand recovery. The rupee’s 10% loss against the dollar over the same period was the biggest drag on the stock market, down marginally from a year earlier. Nevertheless, the combined wealth of India’s top 100 earners rose by $25 billion, reaching $800 billion.
Indian billionaires, who come from various business backgrounds, have significantly boosted their nation’s economy. Most billionaires’ fortunes are invested in publicly traded securities so that wealth can fluctuate under turbulent market circumstances. So, based on Forbes’ “India’s 100 Richest” list, which was updated on October 12, 2022, below is the most current ranking of the top ten richest Indians.
1. Gautam Adani and Family ($150B)
Business tycoon Gautam Shantilal Adani was born in India on June 24, 1962. He is the Chairman and the creator of the Adani Group, a large organization with activities in India’s ports and headquarters in Ahmedabad. Adani is also the director of the Adani Foundation, mainly managed by his wife, Priti Adani. According to Forbes, as of October 12, 2022, he has a $150 billion net worth. He is the wealthiest person in Asia and India. According to the Forbes Real Time Billionaire list and the Bloomberg Billionaire Index, he is the fourth richest person in the world.
2. Mukesh Ambani ($88B)
Business tycoon Mukesh Dhirubhai Ambani was born in India on April 19, 1957. He is the Chairperson and CEO of Reliance Industries Ltd. (RIL), the most valuable company in terms of market value in India and a Fortune Global 500 company. As of October 12, 2022, Ambani’s net worth is predicted to reach US$88 billion, ranking him seventh in the world and second richest in Asia behind Gautam Adani, according to Forbes and Bloomberg Billionaires Index.
3. Radhakishan Damani and Family ($27.6B)
Radhakishan Shivkishan Damani is an Indian billionaire businessman and DMart founder. His investing company, Bright Star Investments Limited, also manages his portfolio. On August 19, 2021, the Bloomberg Billionaire Index ranked him as the 98th richest person in the world; as of October 12, 2022, his total net worth was $27.6 billion.
Damani also has equity in various businesses, including the producer of cement, India Cements and the tobacco giant VST Industries. His total stock holdings were valued at nearly Rs 1,02,077 crore (around US$13 billion) in 2021.
3. Cyrus Poonawalla ($21.5B)
The world’s largest manufacturer of vaccines, Serum Institute of India, is owned by Indian billionaire Cyrus S. Poonawalla, born in 1941. He serves as the group’s Chairman and managing director. He ranks fourth on Forbes India’s list of the wealthiest people, with a net worth of $21.5 billion in 2022. He is rated first on the Hurun Global Health Care Rich List 2022.
4. Shiv Nadar ($21.4B)
Indian wealthy industrialist and philanthropist Shiv Nadar was born on July 14, 1945. He founded and served as the emeritus chairman of the Shiv Nadar Foundation and HCL Technologies Limited. Midway through the 1970s, Nadar founded HCL. Over the coming three decades, he transformed the IT hardware company into an IT enterprise by continuously shifting the focus of his business. With an estimated net worth of $21.4 billion as of October 12, 2022, he is the 60th wealthiest person in the world and the 5th richest person in India, according to Forbes.
5. Savitri Jindal and Family ($16.4B)
Savitri Devi Jindal is an Indian entrepreneur and politician born on March 20, 1950. She was the O.P. Jindal Group’s emeritus chairperson. Additionally, she oversees the Maharaja Agrasen Medical College in Agroha.
Savitri Jindal is the wealthiest woman in India and the sixth-richest Indian, with a net worth of $16.4 billion. In the Assamese town of Tinsukia, Jindal was born. She wed Om Prakash Jindal, the creator of the steel and power giant Jindal Group, in the 1970s.
6. Dilip Shanghvi and Family ($15.5B)
One of the richest persons in the country and a billionaire businessman from India, Dilip Shanghvi, was born on October 1, 1955. He founded the pharmaceutical company Sun. He received the Padma Shri civilian honor from the Indian government in 2016. He came in at number eight on India Today magazine’s 2017 list of the most influential individuals in the nation. According to Forbes, Shanghvi is the sixth wealthiest person in India, with a net worth of $15.5 billion as of October 12, 2021.
7. Hinduja Brothers ($15.2B)
A group of British millionaires, investors, and philanthropists with Indian ancestry, Gopichand and Srichand Hinduja, are called Hinduja Brothers. They are the Chairman and largest stakeholder of the Hinduja Group. As of May 2020, they were the wealthiest men in the UK. Since the 1990s, they have consistently been listed among the richest people in the UK and Asia. With a net worth of $15.2 billion, The Hinduja Brothers were ranked the eighth wealthiest individuals in India on the Forbes List on October 12, 2022.
8. Kumar Birla ($15B)
The Aditya Birla Group, India’s largest multinational corporation, is led by a billionaire entrepreneur and Chartered Accountant, Kumar Mangalam Birla, born on June 14 1967. In addition, he serves as Chairman of the Indian Institute of Management Ahmedabad and chancellor of the Birla Institute of Technology and Science. According to Forbes, he is calculated to be $15 billion in wealth as of October 12, 2022.
9. Bajaj Family ($14.6B)
The Bajaj Group is an Indian multinational corporation that Jamnalal Bajaj founded in Mumbai in 1926. Forty companies make up the group, the largest of which is Bajaj Auto, the fourth-largest two- and three-wheeler manufacturer worldwide. Other significant companies include Mukand, Bajaj Holdings & Investment, Bajaj Electricals, Bajaj Finance, Bajaj Finserv, and Bajaj Electricals. The businesses in which the group participates are automobiles, home appliances, lighting, iron and steel, insurance, travel, and finance. Its market value is $110 billion as of 2022, with $15 billion in sales and a $2 billion net profit. Sales are anticipated to reach $50 billion in 2024–2025, with a $5 billion profit. It employs 100,000 people in total, both directly and indirectly.
The Bajaj Family has an annual worth of $14.6 billion with all of these businesses, making them the eleventh most affluent family in India.
Wrapping Up
So, this was the latest list of the top 10 richest persons in India as per the updated list of Forbes on October 12 2022. So, if you are keen to stay updated with such knowledgeable information, stay tuned.
