Mukesh Ambani Tops Forbes India 2024 Rich List; Gautam Adani Second — Full Top 10 Breakdown

Forbes has published its 2024 edition of India’s 100 Richest list, revealing a significant wealth surge among the nation's billionaires. Indian tycoons collectively reached a milestone with their wealth crossing $1 trillion for the first time, now sitting at an estimated $1.1 trillion.

This marks a significant increase of $316 billion in just the last 12 months, highlighting the strength of India’s economy and the growing wealth of its top earners.

Over 80% of individuals on the list saw an increase in their net worth, with 58 of them adding $1 billion or more. Impressively, the top 12 billionaires alone account for almost half of the total wealth among the top 100, underscoring the concentrated nature of wealth in India.

Forbes Top 10 Richest Indians of 2024

1. Mukesh Ambani

   • Net Worth: $119.5 billion

   • Industry: Diversified (Reliance Industries)

   • Increase: Added $27.5 billion in 2024

   • While Ambani leads the list, he is notably the second biggest gainer in dollar terms this year.

2. Gautam Adani and Family

   • Net Worth: $116 billion

   • Industry: Diversified (Adani Group)

   • Increase: Added $48 billion

   • Gautam Adani gained the most wealth this year and continues to hold a strong position, closely trailing Ambani.

3. Savitri Jindal and Family

   • Net Worth: $43.7 billion

   • Industry: Metals and Mining

   • As India’s richest woman, Jindal remains one of the country’s wealthiest individuals.

4. Shiv Nadar

   • Net Worth: $40.2 billion

   • Industry: Technology (HCL Enterprise)

5. Dilip Shanghvi and Family

   • Net Worth: $32.4 billion

   • Industry: Pharmaceuticals (Sun Pharma)

6. Radhakishan Damani and Family

   • Net Worth: $31.5 billion

   • Industry: Retail (DMart)

7. Sunil Mittal and Family

   • Net Worth: $30.7 billion

   • Industry: Telecommunications (Bharti Enterprises)

8. Kumar Mangalam Birla

   • Net Worth: $24.8 billion

   • Industry: Diversified (Aditya Birla Group)

9. Cyrus Poonawalla

   • Net Worth: $24.5 billion

   • Industry: Pharmaceuticals (Serum Institute of India)

10. Bajaj Family

• Net Worth: $23.4 billion

• Industry: Diversified (Bajaj Group)

Key Highlights from Forbes 2024 ‘India’s 100 Richest’ List

• New Entrants:
  Mahima Datla, head of vaccine producer Biological E, becomes a new woman entrant on the top 100 list. Other new entrants include B Partha Saradhi Reddy, founder of Hetero Labs; Harish Ahuja of Shahi Exports; and Surender Saluja, founder of Premier Energies.

• Industry Gains:
  Pharmaceuticals and real estate industries saw strong growth, with Dilip Shanghvi, Torrent Pharmaceuticals’ Sudhir and Samir Mehta, Prestige Estates Projects’ Irfan Razack, and the Godrej family experiencing significant wealth increases.

• Youngest Member:
  At 38, Nikhil Kamath, co-founder of Zerodha, is the youngest individual on the list, further showcasing the rise of young entrepreneurs in India’s financial landscape.

• Ratan Tata Missing:
  The late Ratan Tata, who passed away on October 9, 2024, was not listed, as he had largely transferred his wealth to philanthropic ventures over the years.

How the List Was Compiled

Forbes compiled the list using a combination of shareholding and financial data from families, individuals, stock exchanges, and analysts, with input from India’s regulatory agencies. The India’s 100 Richest list differs from Forbes’ World’s Billionaires list, as it consolidates family fortunes and includes foreign citizens with significant business ties to India.

Conclusion

The 2024 Forbes India’s 100 Richest list showcases the growing wealth of India's billionaires, driven by robust economic growth and industry expansion. Mukesh Ambani once again secures the top spot, with Gautam Adani following closely.

Notably, 2024 witnessed significant gains in sectors like pharmaceuticals and real estate, with numerous billionaires adding billions to their net worth. New faces like Mahima Datla and Nikhil Kamath highlight the continued diversification of wealth in India.

As the collective wealth of India’s richest surpasses the $1 trillion milestone, the list underscores the concentration of wealth within a select few individuals and families, reflecting both the opportunities and challenges of India's booming economy.