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Home / News / India /  LIC agent then, billionaire now: Sonalika Tractors founder at 164 on Hurun Rich List 2020

LIC agent then, billionaire now: Sonalika Tractors founder at 164 on Hurun Rich List 2020

The company that makes Sonalika tractors has been in discussions with investment banks for the past few months and is currently in the process of hiring banks for handling the IPO process. Photo: BloombergPremium
The company that makes Sonalika tractors has been in discussions with investment banks for the past few months and is currently in the process of hiring banks for handling the IPO process. Photo: Bloomberg

  • The manufacturer, with a net wealth of 7,700 crore is ranked 164th on Hurun India Rich List
  • The top spot on the list was retained by Chairman of Reliance Industries Limited Mukesh Ambani for the ninth consecutive year with 6,58,400 crore wealth

Lachman Das Mittal, 89, an LIC agent turned entrepreneur founded Sonalika Tractors that has grown to become the third largest tractor manufacturer in India, according to IIFL Wealth Hurun India Rich List 2020.

The manufacturer, with a net wealth of 7,700 crore is ranked 164th on the rich list.

The Hurun India list names the richest individuals in the country having a wealth of 1,000 crore or more as on August 31, 2020. In the 2020 edition, the list had 828 Indians, including 40 women, up from 94 last year. The average wealth in the list is INR 7,300 crore and the average age is 63.

The top spot on the list was retained by Chairman of Reliance Industries Limited Mukesh Ambani for the ninth consecutive year with 6,58,400 crore of personal wealth, mostly because of fundraising and strategic investments by several company including Facebook, Google in his company. He is the only Indian to feature among the top 5 on the global rich list.

London-based Hinduja brothers (SP Hinduja, along with his three brothers) with a joint wealth of 1,43,700 crore is at the second position whereas HCL Founder Shiv Nadar with a wealth of 1,41,700 crore ranked third.

Gautam Adani and Wipro's Azim Premji bagged the fourth and the fifth place respectively.

Here is the list of top 10 richest Indians on the list:

Hurun India Rich List
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Hurun India Rich List (Hurun India)

The top five families hold 21% of the cumulative wealth of this year's list.

Moreover, Radhakishan Damani, Founder of Avenue Supermarts, debuted on the list of top 10 wealthiest individuals. He was ranked at the seventh position.

With 91 lakh followers on Twitter, Ratan Tata is the most followed entrepreneur from the list on Indian social media, followed by Anand Mahindra who has 81 lakh followers.

Among women, Smitha V Crishna, third-generation heir to the Godrej Empire, was ranked the the richest woman in the list followed by Biocon founder Kiran Mazumdar Shaw.

Of the 40 women individuals in the list and 10 of them are self-made. The personal wealth of Crishna stood at 32,400 crore and that of Shaw at 31,600 crore, who is also the richest self-made woman in India.

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