India’s top five wealthiest individuals, we delve into the business empires of Mukesh Ambani, Gautam Adani, Shiv Nadar, Savitri Devi Jindal, and Radhakishan Damani, a retail giant. Offering insights into their economic influence and varied ventures, the insights provide a glimpse into the intricate roles these figures play in shaping India’s dynamic business scene.
List of wealthiest people in India:
The richest man in India, Mukesh Dhirubhai Ambani, is an influential Indian billionaire and the current chairman and managing director of Reliance Industries, India’s most valuable company. With an estimated net worth of $91.2 billion as of August 2023, he stands as Asia’s wealthiest individual and the 13th richest globally. Ambani has played a pivotal role in expanding Reliance Industries into various sectors, including refining, petrochemicals, retail, and telecommunications. His business ventures, particularly Jio, have made significant contributions to India’s telecommunications landscape. Beyond business, he owns the Mumbai Indians Indian Premier League (IPL) franchise and founded the Indian Super League. He resides in Antilia, one of the world’s most expensive private residences valued at $1 billion. Despite his financial success, Ambani has faced scrutiny for alleged market manipulation, political corruption, and cronyism.
Gautam Adani, the second richest, serves as the chairman of the Adani Group, a conglomerate with a $32 billion revenue, involved in various sectors such as ports, airports, power generation, transmission, and green energy. Originating as a commodities trading firm in 1988, the Adani Group expanded through acquisitions and gained support from Indian Prime Minister Narendra Modi. Adani holds the position of India’s largest airport operator and oversees Mundra Port, the country’s largest, located in his home state of Gujarat. Additionally, in 2022, Adani became India’s second-largest cement producer following the acquisition of Swiss firm Holcim’s Indian assets for $10.5 billion. In January 2023, Adani faced allegations of financial fraud and stock market manipulation from U.S. firm Hindenburg Research, which the Adani Group has vehemently denied.
Shiv Nadar, the third richest individual in India, is the Founder of HCL Group and the Shiv Nadar Foundation. Currently serving as the Chairman Emeritus and Strategic Advisor to the Board of HCLTech, a global organization with a revenue of $12.8 billion and a workforce of 223,438 professionals across 60 countries. Nadar is recognized as a pioneer in the Indian computing and IT industry. Over the past 45 years, under his leadership, HCL has adapted to the evolving IT landscape, remaining at the forefront of technological revolutions since its establishment in 1976. Initially focusing on hardware, and manufacturing India’s first indigenous computers, HCL has transitioned into a comprehensive software services organization, standing as one of the few global IT companies from the 1970s still in operation today.
Savitri Devi Jindal, the richest woman in India, is an Indian businesswoman and politician. She formerly served as the chairperson emerita of the O.P. Jindal Group. In addition to her corporate roles, she holds the position of president at Maharaja Agrasen Medical College, Agroha. The Jindal family is estimated to have a net worth of $24.5 billion, with Savitri Devi Jindal’s current net worth at $18.2 billion. This places her at the 82nd rank globally. Notably, over the past year, her net worth has seen significant growth, with an increase of $4.8 billion, marking a remarkable 35% surge compared to the previous year.
Radhakishan Damani is an Indian billionaire businessman and investor, best known as the founder of DMart, a prominent retail chain in India operated by Avenue Supermarts. DMart has emerged as a leading retail chain in the country, distinguished for its emphasis on value retailing. Radhakishan Damani is widely acknowledged for his achievements in the retail sector and his astute investment approaches. Renowned for his success, he holds a prominent position among India’s wealthiest individuals. Presently, Radhakishan Damani oversees a network of 336 DMart stores throughout India. In addition to his involvement with DMart, Damani has invested in various companies, spanning from VST Industries in the tobacco sector to India Cements in the cement industry. Furthermore, his real estate holdings encompass the Radisson Blu Resort in Alibaug, featuring 156 rooms and situated in a sought-after beachfront location near Mumbai.