Gautam Adani gained the second spot in the IIFL Wealth Hurun India Rich List 2021 owing to the outstanding performance the stock performed on the bourses.
Mukesh Ambani and Shiv Nadar and family retained their first and third spot respectively.
It must be noted that Adani Group has a total market capitalisation of Rs 9 lakh crore. All the listed subsidiaries of Adani’s except Adani Power are having a valuation of more than Rs 1 lakh crore. “Gautam Adani is the only Indian to build not one, but five Rs 1 lakh crore companies,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.
Source: Hurun Official Website
RICHEST INDIANS IN TOP 10
After Ambani and Adani, Shiv Nadar and family stood at the third position, up 67 per cent in wealth to Rs 2,36,600 crore. For the year ending December 2020, HCL became only the third Indian IT company to surpass the US $10 billion revenue mark.
Shiv Nadar’s HCL has attracted Rs 260 crore daily since the release of the last in 2020.
“HCL’s limited exposure to COVID affected segments such as travel, retail and hospitality resulted in a 67 percent increase in his wealth,” said the Hurun report.
SP Hinduja and family dropped two positions to fourth on the list but an increase of 53 percent could be seen, taking the net worth to Rs 2,20,000 crore.
“The brothers saw the valuation up by 53 per cent to Rs 2,20,000 crore backed by the performance of their flagship companies such as Ashok Leyland and IndusInd Bank, whose share price went up by 74 per cent and 61 per cent respectively. The brothers are based between Mumbai, London and Geneva,” the report said.
LN Mittal and family gained eight positions in the list to fifth this year, seeing a surge of 187 per cent to Rs 1,74,400 crore in their wealth. The biggest steelmaker firm– ArcelorMittal outside of China reported its best quarter since 2008, driven by strong demand from the construction, infrastructure and renewable energy sectors.
“Continued demand recovery and higher steel selling prices helped ArcelorMittal to triple its share price over the year,” the report said.
Cryrus S Poonawalla and family stayed in the sixth spot in the list, despite the net worth jumped 74 per cent to Rs 1,63,700, majorly because Serum Institute of India (SII) grabbed the deal to manufacture Covid-19 vaccines.
“Poonawalla’s wealth increased by 74 per cent to Rs 1,63,700 crore, on the back of providing 60 crore doses or 92 per cent of the Covid-19 vaccines delivered in India. In June 2020, Poonawalla debuted in the Top 100 in Hurun Global Rich List. His son Adar was one of three Indians featured along with Prime Minister Modi in the recent Time Magazine’s 100 Most Influential People 2021,” the Hurun report added.
Radhakishan Damani and family’s wealth surged 77 per cent to Rs 1,54,300 crore. Damani and his family secured the seventh spot in the IIFL Wealth Hurun India Rich List 2021
The eighth position on the list was secured by Gautam Adani’s brother Vinod Shantilal Adani and the family with net worth increased to Rs 1.31 lakh crore. Vinod Adani jumped up 12 places on the list this year.
Aditya Birla Group Chairman Kumar Mangalam Birla and his family also appeared in the top 10 richest list with a net worth of Rs 1,22,200 crore. “Strong demand across all business segments, plants running at near full capacity and improving margins resulted in an 84 per cent increase in the combined market capitalization of Aditya Birla Group over the last year,” the report said.
Chaudhry, an IIT alumnus from Himachal Pradesh, established the security business in 2007 and now has a 42 percent interest in the Nasdaq-listed company with a market capitalization of Rs 2,81,000 crore.
According to the Hurun Rich List, India now has 237 billionaires, up from 58 last year.
“The increased demand for enterprise cybersecurity services amidst increased corporate ransomware attacks contributed to an 85 per cent increase in Chaudhry’s wealth and stormed into the top 10 of IIFL Wealth Hurun India Rich list 2021,” the report noted.
According to the report, the chemicals and software industries contributed the newest billionaires to the list, while medicine remained at the top with 130 new billionaires.