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Top 10 Richest Man in India – 2024 Hurun India Rich List

India is home to an immense wealth creation engine. Individuals who have made themselves wealthy continue to dominate India’s rich list.

Lakshmi Mittal, founder of ArcelorMittal, expertly navigated industry challenges to become one of the global steel titans.

Shiv Nadar of HCL Technologies remains one of India’s wealthiest individuals; this year he vaulted two places up the rankings to become the fourth richest.

Rank Name Net Worth (Approx.) Company/Organization
1 Gautam Adani ₹11 trillion Adani Group
2 Savitri Jindal ₹3.3 trillion O.P. Jindal Group
3 Shiv Nadar ₹2.7 trillion HCL Technologies
4 Dilip Shanghvi ₹2.5 trillion Sun Pharmaceutical Industries
5 Kumar Birla ₹2.2 trillion Aditya Birla Group
6 Radhakishan Damani ₹1.92 trillion DMart
7 Cyrus S. Poonawalla ₹1.9 trillion Serum Institute of India
8 Niraj Bajaj ₹1.8 trillion Bajaj Group
9 Azim Premji ₹1.75 trillion Wipro
10 Gopichand Hinduja ₹1.65 trillion Hinduja Group

 

1. Gautam Adani

Gautam Adani is one of India’s most prominent and wealthiest business tycoons. He is the founder and chairman of the Adani Group, a multinational conglomerate based in India with diversified business interests spanning sectors such as:

  • Ports and logistics
  • Edible oil production
  • Power generation and transmission
  • Infrastructure development
  • Real estate
  • Agri-business
  • Natural resources
  • Defense and aerospace

Adani’s business empire began in 1988 as a commodities trading company, and over the years, he has grown the Adani Group into one of the largest and most influential corporate entities in India. The Group’s expansion has been marked by strategic acquisitions, partnerships, and investments across various industries.

Political and Economic Influence:

Gautam Adani is known to have strong ties with Indian Prime Minister Narendra Modi, which has aided in the group’s rapid rise, particularly in sectors critical to India’s infrastructure development. His support for India’s economic development has further cemented his reputation as a key figure in shaping the country’s growth trajectory.

Philanthropy:

In addition to his business ventures, Adani is active in philanthropic efforts through the Adani Foundation, focusing on education, healthcare, rural infrastructure development, and sustainability. The foundation works to improve the lives of marginalized communities in India.

In 2024, Gautam Adani topped the Hurun India Rich List, with an estimated net worth of ₹11 trillion, reflecting a 95% increase from the previous year. His wealth surge has been attributed to the growth of the Adani Group, especially in sectors like energy, ports, and logistics.

Adani’s business vision and strategic foresight have solidified his status as one of India’s richest and most influential figures.

2. Savitri Jindal

Savitri Jindal is one of India’s most powerful businesswomen and the wealthiest woman in the country. She is the chairperson emerita of the O.P. Jindal Group, a multinational conglomerate founded by her late husband, Om Prakash Jindal. The company operates in diverse sectors, including:

  • Steel
  • Power
  • Cement
  • Infrastructure
  • Mining

After the death of her husband in 2005, Savitri Jindal took over the leadership of the Jindal Group, growing it into one of India’s largest business empires. As of 2024, she ranks third on the Hurun India Rich List with an estimated net worth of $40 billion (around ₹3.3 trillion).

Key Roles and Achievements:

  1. Political Influence: Savitri Jindal has also been active in politics, serving as a member of the Haryana Legislative Assembly. She has represented the Indian National Congress (INC) and has been a prominent figure in state politics, advocating for social and economic development.
  2. Philanthropy and Social Work: In addition to her business achievements, she is deeply involved in philanthropy, supporting educational and healthcare initiatives. She is the president of Maharaja Agrasen Medical College in Agroha, Haryana, where she focuses on providing affordable medical care and education to rural areas.
  3. Women’s Empowerment: As one of the few female leaders of a large industrial conglomerate, she has been an inspiring figure for women in business. Savitri Jindal’s rise in wealth and influence is seen as a testament to the growing role of women in India’s economy.

Despite inheriting the business, she has played a vital role in its continued expansion, proving her leadership capabilities in a male-dominated industry. Under her stewardship, the Jindal Group has maintained its strong position in the steel and power sectors, which are central to India’s economic development.

3. Shiv Nadar

Shiv Nadar is a pioneer in the Indian IT industry and the founder of HCL Technologies, one of the largest IT services companies in the world. As of 2024, he ranks among India’s richest individuals, holding a prominent position on the Hurun India Rich List. His net worth has been steadily increasing due to HCL’s global expansion and growth in the tech sector.

Key Contributions:

  1. HCL Technologies:
    • Founded in 1976, Shiv Nadar started HCL (originally Hindustan Computers Limited) with a vision to lead India into the age of information technology.
    • HCL started as a hardware company and later transitioned into software and IT services, becoming a global leader in IT consulting and solutions.
    • Today, HCL Technologies operates in over 50 countries, providing services such as IT infrastructure, application development, and business process outsourcing.
  2. Strategic Vision:
    • Nadar’s foresight to transition from hardware to software in the 1980s played a crucial role in positioning HCL as a global tech player.
    • Under his leadership, HCL grew into a multi-billion dollar enterprise and continues to innovate in areas like cloud computing, AI, and digital transformation.
  3. Philanthropy:
    • Shiv Nadar is also a well-known philanthropist, focusing heavily on education through the Shiv Nadar Foundation, which he founded in 1994. The foundation runs several educational institutions, including:
      • Shiv Nadar University
      • SSN College of Engineering
      • VidyaGyan Schools for underprivileged children
    • His philanthropic work aims to provide high-quality education to India’s marginalized communities and to foster innovation and leadership.
  4. Leadership Transition:
    • In 2020, Shiv Nadar stepped down as the chairman of HCL Technologies, transitioning to the role of Chairman Emeritus and Strategic Advisor to the board. His daughter, Roshni Nadar Malhotra, succeeded him as chairperson, making her the first woman to lead a listed IT company in India.

Wealth and Recognition:

Shiv Nadar has consistently been listed among the top billionaires in India. In 2024, he ranks as the third richest Indian. His success is attributed to HCL’s dominance in the global IT services market, as well as his diverse investments in education and technology sectors.

Nadar’s contributions to the Indian tech industry and his philanthropic efforts have earned him widespread recognition, including the prestigious Padma Bhushan award in 2008 for his contributions to the IT sector. His visionary leadership has not only shaped HCL but has also played a pivotal role in putting India on the global technology map.

4. Dilip Shanghvi

Dilip Shanghvi is the founder and managing director of Sun Pharmaceutical Industries, one of the largest pharmaceutical companies in India and the world. Known for his sharp business acumen, Shanghvi has built a global pharmaceutical empire through smart acquisitions and a strong focus on research and development. As of 2024, he is one of the wealthiest individuals in India, consistently featuring in the Hurun India Rich List.

Key Contributions:

  1. Sun Pharmaceutical Industries:
    • Founded in 1983, Sun Pharma started with just five psychiatric drug products. Over the years, it expanded its product range to cover cardiology, neurology, gastroenterology, and oncology, making it one of the largest pharmaceutical companies in India.
    • Today, Sun Pharma is a global leader in generic drugs, with operations in over 100 countries and more than 40 manufacturing facilities worldwide.
    • The company is also known for its research-driven approach, with a focus on producing affordable, high-quality medicines.
  2. Strategic Acquisitions:
    • Shanghvi is renowned for his ability to identify strategic acquisition opportunities. One of the most notable acquisitions was Ranbaxy Laboratories in 2014, which catapulted Sun Pharma to the top of the Indian pharmaceutical industry.
    • Other acquisitions, including Taro Pharmaceuticals in the US and Pharmalucence in the biotech space, helped the company expand its global footprint and enhance its product portfolio.
    • Sun Pharma has also ventured into specialty drugs and complex generics, which has helped it maintain its competitive edge.
  3. Visionary Leadership:
    • Under Shanghvi’s leadership, Sun Pharma has not only grown exponentially in size but has also made significant strides in innovation and R&D.
    • The company invests heavily in new drug development and biopharmaceutical research, aiming to bring advanced and affordable healthcare solutions to the global market.
  4. Philanthropy and Investments:
    • Besides pharmaceuticals, Dilip Shanghvi has a strong presence in investments and philanthropy. He has made significant investments in technology and renewable energy, including a stake in Suzlon Energy and BioLight Life Sciences.
    • Shanghvi has also been actively involved in philanthropic activities, contributing to healthcare initiatives and education programs in India.

Wealth and Recognition:

As of 2024, Dilip Shanghvi holds a place among the top 10 richest Indians, with an estimated net worth of around $20 billion. His success is a result of Sun Pharma’s continuous growth in the global pharmaceutical market, particularly in the generic and specialty drug sectors.

In recognition of his contributions to the Indian pharmaceutical industry and his business acumen, Shanghvi has received numerous awards, including the prestigious Padma Shri in 2016. He is widely regarded as one of the most influential figures in India’s corporate world, with a reputation for his humility and strategic foresight.

Dilip Shanghvi’s journey from a small drug manufacturer to leading one of the world’s largest pharmaceutical companies is a testament to his visionary leadership and relentless pursuit of excellence in healthcare.

5. Kumar Birla

Kumar Mangalam Birla is the chairman of the Aditya Birla Group, one of India’s largest conglomerates with a global presence spanning industries such as metals, cement, financial services, telecommunications, and retail. Under his leadership, the group has expanded significantly and made strategic acquisitions to become a dominant force in various sectors. As of 2024, Kumar Birla is one of India’s wealthiest individuals, featuring prominently in the Hurun India Rich List.

Key Contributions:

  1. Aditya Birla Group:
    • Kumar Birla took over the leadership of the Aditya Birla Group at the young age of 28 after the sudden passing of his father, Aditya Vikram Birla, in 1995. Since then, he has transformed the group into a global powerhouse.
    • The group operates in over 36 countries across six continents, with a workforce of more than 140,000 employees. It has a strong presence in metals, cement, telecommunications, financial services, retail, and more.
    • Under Birla’s leadership, the group’s revenue has multiplied several times, crossing the $60 billion mark as of 2024.
  2. Cement and Metals:
    • One of the group’s flagship companies, UltraTech Cement, is India’s largest cement manufacturer and one of the top producers globally.
    • Hindalco Industries, another key company under the Aditya Birla Group, is a global leader in aluminium and copper production. The acquisition of Novelis in 2007, an American aluminium company, was one of the largest overseas acquisitions by an Indian company and cemented Hindalco’s position in the global market.
  3. Telecommunications and Financial Services:
    • Kumar Birla played a pivotal role in the group’s entry into the telecommunications sector through Vodafone Idea, which was formed by the merger of Idea Cellular and Vodafone India. Despite challenges, Birla has remained committed to the sector, contributing to India’s digital growth.
    • The group’s financial services arm, Aditya Birla Capital, offers a wide range of services including insurance, asset management, and lending. It has emerged as one of India’s leading financial services conglomerates.
  4. Retail and Fashion:
    • Kumar Birla has also expanded the group’s footprint in the retail and fashion sectors. Aditya Birla Fashion and Retail Limited (ABFRL) is one of the largest retail companies in India, housing popular brands like Pantaloons, Van Heusen, Allen Solly, and Louis Philippe.
    • ABFRL’s strategy of acquiring and partnering with leading international brands has further strengthened its position in the fast-growing Indian fashion market.
  5. Strategic Acquisitions:
    • Birla is known for his bold and strategic acquisitions. Besides Novelis, his major acquisitions include Century Textiles in the cement business and Jaypee Group’s cement assets, which boosted UltraTech’s capacity.
    • These acquisitions have enabled the group to maintain its leadership position in competitive industries and expand its global presence.
  6. Philanthropy and Education:
    • Kumar Birla is deeply involved in philanthropy through the Aditya Birla Foundation, focusing on education, healthcare, and rural development. The foundation has built schools, hospitals, and community centers across India, impacting millions of lives.
    • He is also the Chancellor of the Birla Institute of Technology & Science (BITS Pilani), one of India’s top engineering and management institutions, and has contributed significantly to its growth and expansion.

Wealth and Recognition:

As of 2024, Kumar Birla has an estimated net worth of $24 billion, making him one of India’s richest individuals. His business acumen and ability to navigate complex industries have earned him widespread recognition in India and internationally.

He has been honored with several prestigious awards, including the Padma Bhushan in 2023 for his contributions to trade and industry. Kumar Birla’s leadership has ensured the Aditya Birla Group’s continued growth and prominence on the global stage, making him one of the most influential business leaders in the world.

Kumar Mangalam Birla’s journey as a visionary industrialist and his ability to balance traditional values with modern business practices have made him a role model for many in the Indian corporate world.

6. Radhakishan Damani

Radhakishan Damani is an influential Indian businessman and the founder of DMart, a leading supermarket chain in India. He has garnered significant wealth through his retail business, strategic investments, and stock trading, becoming one of the richest individuals in India according to the Hurun India Rich List 2024.

Key Contributions:

  1. DMart:
    • Founded in 2002, DMart (D-Mart) has rapidly expanded to become one of India’s largest and most successful retail chains. The first store was opened in Mumbai, and as of 2024, DMart operates over 320 stores across multiple states in India.
    • The business model of DMart focuses on providing customers with a wide range of products at competitive prices. The company’s efficient supply chain management, cost control measures, and no-frills store design contribute to its success.
  2. Stock Market Investments:
    • Radhakishan Damani is also known for his expertise in stock trading. Before venturing into retail, he was a successful stock market investor and trader, inspired by value investing principles.
    • He is considered a savvy investor, known for making long-term investments in companies with strong fundamentals. Some of his notable investments include stakes in companies like HDFC Bank, VST Industries, and Century Textiles.
  3. Wealth Growth:
    • As of 2024, Damani’s estimated net worth is approximately $22.7 billion, placing him among the top ten richest individuals in India. His wealth has significantly increased over the years, partly due to the success of DMart and the appreciation of his stock investments.
    • Radhakishan Damani is known for his disciplined approach to investments, avoiding unnecessary risks, and maintaining a simple lifestyle despite his immense wealth.
  4. Philanthropy:
    • Although Radhakishan Damani prefers to maintain a low profile, he is known to engage in philanthropic activities. His focus areas include education, healthcare, and community development. He supports various charitable initiatives aimed at improving the quality of life for underprivileged communities.
  5. Business Philosophy:
    • Damani’s business philosophy is centered around a value-based approach, emphasizing customer satisfaction, operational efficiency, and ethical practices. His commitment to quality and affordability has earned DMart a loyal customer base.
    • He is also known for his hands-on management style and strategic decision-making, ensuring that DMart remains competitive in the ever-evolving retail landscape.
  6. Recognition:
    • Radhakishan Damani’s success story has inspired many entrepreneurs and investors in India. He is often cited as a model for aspiring business leaders due to his strategic insights and disciplined investment approach.
    • His achievements in retail and stock market investments have earned him accolades in the business community, establishing him as a prominent figure in India’s corporate landscape.

Conclusion:

Radhakishan Damani’s journey from a stock trader to the founder of one of India’s most successful retail chains is a testament to his business acumen, strategic thinking, and commitment to delivering value. His ability to navigate the complexities of the retail sector while maintaining a focus on long-term growth has made him a key player in India’s economic landscape. His legacy continues to shape the future of retail in India, making him a significant figure in the country’s business ecosystem.

7. Cyrus S. Poonawalla

Cyrus S. Poonawalla is a prominent Indian businessman, best known as the founder and chairman of the Serum Institute of India, one of the world’s largest vaccine manufacturers. His contributions to the pharmaceutical industry and public health have earned him a place among India’s richest individuals according to the Hurun India Rich List 2024.

Key Contributions:

  1. Serum Institute of India:
    • Founded in 1966, the Serum Institute of India initially focused on producing vaccines for diseases like polio and measles. Over the years, it has grown to become the largest producer of vaccines in the world by volume.
    • The company is known for its affordable vaccines, making immunization accessible to millions of people in India and around the globe. It has played a critical role in various vaccination programs, both domestically and internationally.
  2. COVID-19 Response:
    • During the COVID-19 pandemic, the Serum Institute gained international attention for its collaboration with AstraZeneca to produce the Covishield vaccine. This partnership helped meet global vaccine demand, and the Serum Institute has been a key player in the COVAX initiative to ensure equitable vaccine distribution worldwide.
    • The success of Covishield significantly boosted the company’s revenue and global recognition, highlighting its importance in public health initiatives.
  3. Wealth Growth:
    • As of 2024, Cyrus Poonawalla’s estimated net worth is approximately $29 billion, making him one of the richest individuals in India. His wealth has grown alongside the expansion of Serum Institute and its pivotal role in global healthcare.
    • The rapid increase in vaccine demand, especially during the pandemic, has contributed significantly to the company’s financial success.
  4. Philanthropy:
    • Cyrus Poonawalla is known for his philanthropic efforts, particularly in healthcare and education. He established the Poonawalla Foundation, which focuses on improving healthcare access and supporting education initiatives for underprivileged communities.
    • The foundation has funded various projects, including healthcare facilities, educational scholarships, and support for rural healthcare programs.
  5. Business Philosophy:
    • Poonawalla’s business approach emphasizes innovation, quality, and affordability. His commitment to producing high-quality vaccines at lower costs has made a substantial impact on global health, particularly in developing countries.
    • He believes in leveraging advanced technology and research to enhance vaccine development, ensuring that Serum Institute remains at the forefront of the pharmaceutical industry.
  6. Recognition:
    • Cyrus Poonawalla has received numerous awards and honors for his contributions to healthcare and business. He was awarded the Padma Shri in 2005 and the Padma Bhushan in 2020, two of India’s highest civilian awards, recognizing his exceptional work in the field of medicine and public health.
    • His leadership in the Serum Institute has earned him respect in both the Indian and international business communities, making him a notable figure in global health discussions.

8. Niraj Bajaj

Niraj Bajaj is a notable Indian businessman and the Managing Director of Bajaj Group, a conglomerate with interests in various sectors, including automotive, financial services, and more. He is a prominent figure in the business community and is recognized for his contributions to the growth and diversification of the Bajaj Group.

Key Contributions:

  1. Bajaj Group:
    • The Bajaj Group, founded in 1926, is one of the oldest and largest conglomerates in India. Niraj Bajaj has played a significant role in steering the company towards new heights while maintaining its legacy.
    • Under his leadership, the group has diversified its operations across various sectors, including Bajaj Auto, Bajaj Finance, and Bajaj Finserv, making substantial contributions to India’s industrial landscape.
  2. Automotive Sector:
    • Bajaj Auto, one of the flagship companies of the Bajaj Group, is one of the leading manufacturers of two-wheelers and three-wheelers in India. The company is known for its innovation and technological advancements in the automotive sector.
    • Bajaj Auto has successfully expanded its presence in international markets, exporting vehicles to over 70 countries. The company’s commitment to quality and performance has established it as a trusted brand globally.
  3. Financial Services:
    • Bajaj Finance is another key subsidiary that has seen significant growth under Niraj Bajaj’s guidance. It is one of the largest non-banking financial companies (NBFCs) in India, providing a wide range of financial products and services, including personal loans, home loans, and investment options.
    • The company’s focus on digital transformation and customer-centric services has played a crucial role in its rapid expansion and success.
  4. Philanthropy:
    • Niraj Bajaj is also involved in various philanthropic initiatives through the Bajaj Group. The group has contributed to education, healthcare, and rural development projects, reflecting its commitment to corporate social responsibility.
    • The Bajaj Foundation, established by the group, supports various social causes, including health initiatives, education programs, and community development projects.
  5. Recognition:
    • Niraj Bajaj has been recognized for his contributions to the business community and has received several awards for his leadership and entrepreneurship.
    • He has been a vocal advocate for the Indian business ecosystem, often participating in discussions and forums to promote entrepreneurship and innovation in the country.
  6. Education and Background:
    • Niraj Bajaj holds a degree in commerce from the University of Mumbai and has also completed an Executive Program at the Harvard Business School.
    • His education and experience have equipped him with the skills to navigate the complexities of the business environment and drive the Bajaj Group’s growth strategy.

9. Azim Premji

Azim Premji is an influential Indian businessman and philanthropist, best known as the founder and chairman of Wipro Limited, one of the largest IT services companies in India. His remarkable journey and significant contributions to the IT industry and philanthropy have earned him recognition as one of the most respected business leaders in India.

Key Contributions:

  1. Wipro Limited:
    • Founder and Chairman: Azim Premji transformed Wipro from a small vegetable oil company into a global IT powerhouse. Under his leadership, Wipro has become a leading provider of IT services, consulting, and business process services.
    • Global Presence: Wipro operates in over 50 countries and serves clients in various sectors, including finance, healthcare, and consumer goods. The company’s commitment to innovation and excellence has established it as a trusted partner for many Fortune 500 companies.
  2. Philanthropy:
    • Azim Premji is widely recognized for his philanthropic efforts, particularly in the field of education. He established the Azim Premji Foundation, which aims to improve the quality of education in India and provide educational opportunities to underprivileged children.
    • The foundation has worked extensively to develop innovative solutions for educational challenges, focusing on teacher training, curriculum development, and policy advocacy. It has also established several schools and colleges across India.
  3. Contributions to Education:
    • Premji has committed a significant portion of his wealth to various educational initiatives. In 2019, he pledged to donate ₹27,514 crores (approximately $3 billion) to the foundation, making it one of the largest philanthropic contributions in India.
    • His belief in the transformative power of education drives his philanthropic work, as he emphasizes the need for quality education as a fundamental right for every child.
  4. Business Philosophy:
    • Azim Premji is known for his principled approach to business and strong ethical values. He has emphasized the importance of integrity, transparency, and social responsibility in corporate governance.
    • His focus on creating a sustainable business model that benefits both the company and society has made him a role model for aspiring entrepreneurs and business leaders.
  5. Recognition and Awards:
    • Azim Premji has received numerous awards and honors for his contributions to business and society. He was named among the world’s 100 most influential people by TIME magazine and has received the Padma Bhushan and Padma Vibhushan, two of India’s highest civilian honors.
    • He has also been recognized by various international organizations for his philanthropic efforts and contributions to the IT industry.
  6. Education and Background:
    • Azim Premji was born on July 24, 1945, in Mumbai, India. He studied at the St. Xavier’s College, Mumbai, and later obtained a degree in engineering from the Stanford University.
    • After the sudden demise of his father in 1966, he took over the family business at the young age of 21 and transformed it into a successful IT enterprise.

10. Gopichand Hinduja

Gopichand Hinduja is a prominent Indian businessman and the co-chairman of the Hinduja Group, a multinational conglomerate with diverse business interests across various sectors, including automotive, banking, finance, media, and healthcare. The Hinduja Group is one of the largest and most respected business entities in India and has a significant presence in the global market.

Key Contributions:

  1. Hinduja Group:
    • Co-Chairman: Gopichand Hinduja, alongside his brother, has been instrumental in expanding the Hinduja Group’s operations globally. Under their leadership, the group has diversified its portfolio and established a strong presence in multiple industries.
    • Global Operations: The Hinduja Group operates in over 100 countries, with major business segments including automotive (Hinduja Automotive), banking (Hinduja Bank), healthcare, and real estate.
  2. Automotive Industry:
    • The group has made significant inroads into the automotive sector through Ashok Leyland, one of India’s largest commercial vehicle manufacturers. The company is renowned for its innovative products and has been a key player in transforming the transportation landscape in India.
  3. Philanthropy and Social Responsibility:
    • Gopichand Hinduja is actively involved in philanthropic initiatives through the Hinduja Foundation. The foundation supports various causes, including education, healthcare, and disaster relief efforts.
    • The Hinduja Group is known for its commitment to corporate social responsibility (CSR) and has invested in numerous social initiatives that aim to uplift marginalized communities and promote sustainable development.
  4. Banking and Finance:
    • Under Gopichand’s leadership, the Hinduja Group has expanded its footprint in the banking and finance sector, particularly through Hinduja Bank in Switzerland. The bank provides a range of financial services, including private banking, corporate banking, and investment services.
  5. Recognition and Awards:
    • Gopichand Hinduja has received several accolades for his contributions to business and society. He is respected for his visionary leadership and commitment to ethical business practices.
    • The Hinduja Group has consistently been recognized for its business excellence and corporate governance standards.
  6. Education and Background:
    • Gopichand Hinduja was born on June 29, 1940, in Mumbai, India, into a prominent business family. He studied at the University of London and gained valuable insights into business management and operations.
    • After completing his education, he joined the family business and played a pivotal role in its growth and diversification.

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