According to a report released on Tuesday, India produced 94 new billionaires in 2023, bringing the overall number of billionaires in the nation to 271, and their combined fortune to $1 trillion.
Mukesh Ambani, the chairman of Reliance Industries, is the only person from India among the top 10 on the Hurun Global Rich List 2024, which is a list of US dollar billionaires. Despite his wealth increasing 40% to $105 billion during the period the survey followed, Ambani, 66, is ranked 10th, down one spot from the previous year. He is the richest individual in Asia.
The wealth estimates used in the Hurun Global Rich List represent a snapshot for the year ending January 15, 2024. This ranking is in its thirteenth edition.
After Ambani, Adani Group chairman Gautam Adani is the next Indian, coming in at number fifteen. Adani, 61, has a $86 billion net worth, a $33 billion increase in wealth that he attributes to a jump in the shares of his companies.
India had a "super strong year," adding 94 new billionaires - more than any other country after the United States - due to a surging stock market. Pharmaceuticals (39 billionaires), autos and auto parts (27) and chemicals (24), are the three main businesses in India. The age distribution was 67.
Mumbai rose to third place in the globe and had the highest rate of growth among billionaire capitals in the world, gaining 26% in the year of the report. Asia's capital of billionaires in Maharashtra. New Delhi made its maiden appearance in the top 10. Melbourne, Palm Beach, Mexico City, and Istanbul all made it into the Hurun Top 30 cities.
Mumbai becomes Asia's billionaire epicenter as a result of India's extraordinary billionaire surge, surpassing all other countries save the US and surpassing Beijing. However, the potential of India's startup ecosystem is still being unlocked at a time when electric vehicles, space technology, and artificial intelligence (AI) are all poised for upheaval. The message for the next ten years is clear: it is risky for a visionary to ignore the Indian story. Hurun Global Rich List creator and principal researcher Anas Rahman Junaid stated in a statement that the list "signals a pivotal shift in the global power structure; it does more than just track wealth."
According to the release, the 2024 Hurun Global Rich List highlights India's rise as a future economic titan, set to solidify its position as the third-largest economy in the world.
Elon Musk, the CEO of Tesla, topped the list of billionaires worldwide with a net worth of $231 billion. With a $185 billion net worth, Jeff Bezos of Amazon came in second.
Pop sensation Taylor Swift, 34, became a member of the billionaire club with a net worth of 1.2 billion, not from the usual side projects that celebrities take on, but rather from her career. Royalties and touring - including $190 million from the first leg of the Eras tour and $35 million from its concert film - account for more than half of her wealth. The statement claimed that the remaining amount is supported by the value of her music archive, particularly after her first six albums were sold to Shamrock Capital for $300 million in 2020.
