Adani Family Tops India’s Rich List, Surpasses Ambani: Hurun Report
Adani Family Becomes Richest in India, Surpasses Ambani
The Adani family, led by Gautam Adani, has seen their wealth surge by 95% in the past year, reaching ₹11.62 lakh crore. This substantial increase of ₹5.65 lakh crore has made them the wealthiest family in India, overtaking the Ambani family, whose wealth stands at ₹10.15 lakh crore, with a 25% increase over the past year.
According to the ‘Hurun India Rich List 2024,’ despite the allegations by Hindenburg, the Adani family has achieved a remarkable 95% growth in their wealth compared to the previous year.
Shiv Nadar of HCL and his family are third on the list with a wealth of ₹3.14 lakh crore, followed by Cyrus S. Poonawalla of Serum Institute with ₹2.90 lakh crore.
Shah Rukh Khan and Hrithik Roshan Make Their Debut in Rich List
Bollywood actor Shah Rukh Khan has made his first appearance on the list with a wealth of ₹7,300 crore, boosted by his stake in the IPL team Kolkata Knight Riders and the success of his films produced under Red Chillies Entertainment, including “Dunki,” “Jawan,” and “Darlings.”
Other Bollywood celebrities joining the list for the first time include Juhi Chawla with ₹4,600 crore, Hrithik Roshan with ₹2,000 crore, Amitabh Bachchan and family with ₹1,600 crore, and Karan Johar with ₹1,400 crore. The total wealth of Bollywood celebrities on the Hurun India list stands at ₹40,500 crore.
India Sees a Rise in Billionaires
The report reveals that the number of billionaires in India has increased to 334, marking a significant rise from the previous year. The list has grown sixfold since its inception 13 years ago, with a 46% increase in total wealth and a 25% rise in average wealth.
This year, 142 new billionaires have joined the list, primarily from the real estate and industrial manufacturing sectors. The youngest person on the list is 21 years old.
Adani Group’s Expansion Amidst Challenges
Under Gautam Adani’s leadership, the Ahmedabad-based Adani Group focuses primarily on infrastructure and owns the largest private port in India. The group’s flagship company, Adani Enterprises, has been instrumental in the family’s wealth increase.
Despite facing accusations of money laundering and stock manipulation, the Adani Group has shown resilience. The group’s companies, including Adani Ports, Green Energy, and Power, have delivered excellent returns over the past year, with Adani Enterprises alone offering a 20.57% return.
In January 2023, Hindenburg Research published a report making several allegations against the Adani Group. This led to a significant drop in the group’s stock prices, although they have since recovered. The Securities Exchange Board of India (SEBI) issued a 46-page show-cause notice to Hindenburg, accusing them of misleading statements. In response, Hindenburg has leveled several accusations against SEBI.
