Home / Companies / People /  At $49 bn, Gautam Adani added most wealth over last one year: Hurun report

Chairperson of Adani Group Gautam Adani added the most wealth over the last one year at $49 billion, according to M3M Hurun Global Rich List. Adani added 6,000 crore every week over the year.

Adani is the second-richest Indian and Asian with a total worth of $81 billion, after Mukesh Ambani, chairman and managing director of Reliance Industries Ltd.

At $103 billion, Ambani is the only Indian to enter the top 10 in 2022 M3M Hurun Global Rich List. His wealth registered an increase of 24% over the past one year.

Globally, there were 3,381 billionaires in the world, up 153 from a year ago. The report also showed that despite Russia-Ukraine war and continued covid-19 impact, the total wealth of global billionaires rose 4% to $15.2 trillion over the past one year.

Notably, Falguni Nayar, founder of Nykaa was the wealthiest new entrant in the Hurun Global Rich List 2022 with a total wealth of $7.6 billion.

The report further added that with 215 billionaires residing in India and 58 new additions, the country continued to be the third-largest billionaire-producing nation in the world. The number rises to 249 if Indian-origin billionaires are added. China has 1,133 billionaires almost five times higher than India, while the US has 716 billionaires.

“India’s billionaires have been doubling every five years, with now more than 200 in India. Interestingly, compared to five years ago, the proportion of non-residents in 2022 rich list has almost halved compared with the onshore billionaires," said Anas Rahman Junaid, managing director and chief researcher, Hurun India.

Over the last 10 years, Indian billionaires have added about $700 billion to their cumulative wealth, which is equivalent to Switzerland’s gross domestic product (GDP) and twice the GDP of UAE.

In terms of city-specific breakdown, Mumbai was home to 72 billionaires, followed by New Delhi at 51 and Bengaluru at 28.

Individually, improving 72 ranks over the last five years, Cyrus S Poonawalla of the Cyrus Poonawalla Group, which includes the Serum Institute of India, ranked 55th, was the richest healthcare billionaire in the world. Poonawalla’s wealth registered a 41% increase to cumulate at $26 billion. Poonawalla has gained more than 500 ranks over the last 10 years.

With a wealth of $23 billion, Radhakishan Damani and family, the founder of DMart, jumped 93 positions to break into the global top 100 for the first time. Post its stellar initial public offer (IPO) in 2017, Avenue Supermart's (DMart owner) market capitalization increased 7.2 times, enabling him to storm into the Top100.

Additionally, with a wealth of $9.7 billion, jumping 113 ranks in last year, Ashwin S Dani & family, ranked 269th, was the richest paint entrepreneur in the world. Dani is the non-executive chairman of Asian Paints Ltd.

Further, with a wealth of $25 billion, Lakshmi N Mittal of ArcelorMittal, is the wealthiest Indian Immigrant.

The year 2021 was also a moment of reckoning for the India’s startup ecosystem which witnessed major IPOs, including four companies in Hurun Global Unicorn Index.

The report showed that jumping 916 ranks over the last two years, and with a wealth of $3.3 billion Byju Raveendran and family, ranked 1083rd, was the third richest entrepreneur from the education sector in the world.

Interestingly, crypto has produced 17 ‘known’ billionaires globally, led by Singapore-based CZ Zhao Changpeng, of crypto exchange Binance with $23 billion, up from $15 billion, and Sam Bankman-Fried of FTX with $21 billion, up $11 billion. Last year’s number one Brian Armstrong founder of US-based Coinbase dropped to third with $10 billion.

The full M3M Hurun Global Rich List will be released on Thursday.

ABOUT THE AUTHOR

Abhinav Kaul

Abhinav Kaul writes on cryptocurrencies and mutual funds at Mint. His previous stints include ETMarkets, Reuters Bangalore and Press Trust of India.
Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
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