India’s Billionaires Surpass $1 Trillion in Collective Wealth for the First Time
India’s 100 billionaires have collectively crossed the trillion-dollar mark, with their combined wealth now totaling $1.1 trillion, according to a recent Forbes report. This milestone is particularly noteworthy as over 80% of the country’s wealthiest individuals are richer than they were a year ago, reflecting a record-breaking year for Indian tycoons.
Significant Gains
The report highlights that India’s billionaires have added a remarkable $316 billion, or nearly 40%, to their fortunes in just the past 12 months. This surge in wealth is largely attributed to robust investor confidence in India’s growth story under Prime Minister Narendra Modi’s administration.
Key Players
Among the significant contributors to this wealth increase is Gautam Adani, who has rebounded strongly from a previous short-selling attack. The infrastructure mogul has added $48 billion to his family’s net worth, bringing it to $116 billion and securing his position as the second richest individual in India.
Savitri Jindal, the matriarch of the OP Jindal Group, has also made headlines by moving up to the third position on the list for the first time. Notably, she is one of nine women featured among the 100 billionaires, an increase from eight the previous year.
New Entrants
The Forbes list welcomed several newcomers this year, including Mahima Datla, who oversees the vaccine producer Biological E. Other notable names include B. Partha Saradhi Reddy of Hetero Labs, Harish Ahuja of Shahi Exports, and Surender Saluja of Premier Energies.
Rising Stars
Dilip Shanghvi, founder of Sun Pharmaceutical Industries, has seen his wealth rise to $32.4 billion, moving him three spots up to fifth place. Additionally, Sudhir and Samir Mehta of Torrent Group have more than doubled their wealth to $16.3 billion, showcasing the dynamic shifts within the rankings.
The Godrej family, a longstanding name in Indian business, continues to feature prominently with members like Adi and Nadir Godrej on the list.
