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India’s prominence on the global billionaire scene continues to rise, with a remarkable 169 Indians earning coveted positions on Forbes’ 2023 World’s Billionaires list. This marks an increase from the previous year when 166 Indian individuals made the cut. Today, our focus turns to India’s elite, the Top 10 wealthiest individuals in terms of net worth. These individuals represent the pinnacle of success in the country, and their stories of entrepreneurship and wealth creation are truly inspiring. Stay tuned as we delve into the lives and achievements of these remarkable individuals who have made their mark on the global stage.
10 Richest People list in India in 2023
Mukesh Ambani – $91.7 B
At the age of 66, Mukesh Ambani is a formidable figure in India’s financial landscape, boasting a staggering net worth of $96.8 billion. He holds the prestigious positions of Managing Director and Chairman at Reliance Industries, a corporate giant with revenues surpassing Rs 8 lakh crore ($104 billion). What makes Reliance Industries truly remarkable is its extensive portfolio, which spans across petrochemicals, oil and gas, retail, telecom, and more. What’s even more impressive is that the Ambani dynasty is actively involved in steering this corporate behemoth into the future, with Mukesh Ambani’s three children – Akash, Anant, and Isha – managing different facets of the business. This family-driven enterprise is not just a cornerstone of the Indian economy but also a global powerhouse, leaving an indelible mark in various industries.
Gautam Adani – $54.7 B
Gautam Shantilal Adani’s remarkable net worth of $58.5 billion is attributed to the Adani Group’s leadership, which oversees India’s port operations and plays a significant role in the country’s development industry on the global stage. Notably, Gautam Adani’s wife, Priti Adani, serves as chair of the Adani Foundation, which he established in 1996. Ports, airports, power generation and transmission, and renewable energy are just a few of the group’s diverse interests. However, Hindenburg Research has accused Adani of financial misconduct and market manipulation, which resulted in a significant decline of more than $120 billion in his firm’s market valuation after the publication of their research.
Shiv Nadar – $28.5 B
Shiv Nadar’s remarkable wealth, totaling an astounding $29.4 billion, is primarily attributed to his ownership of HCL, a renowned IT company that has earned accolades for its significant contributions to the technology sector. HCL’s impressive client roster includes industry giants such as Cisco, Microsoft, and Boeing, underscoring its global impact. Mr. Nadar’s exceptional achievements extend beyond his business acumen; in 2008, the Indian government honoured him with the prestigious Padma Bhushan, the third-highest civilian award in the country, in recognition of his outstanding contributions. Moreover, he is celebrated as a prominent philanthropist, as evidenced by his generous donation of Rs. 1,161 crore in late 2022, demonstrating his commitment to making a positive difference in society.
Savitri Jindal – $24.5 B
Savitri Jindal, a prominent figure in Indian politics and business, currently serves as the Emeritus Chair at the O.P. Jindal Group, a conglomerate known for its diverse business ventures. Her four sons, namely Prithviraj, Sajjan, Ratan, and Naveen Jindal, play pivotal roles in overseeing various divisions within the group. Notably, they are actively involved in JSW Sports, contributing significantly to the growth and development of a thriving sports ecosystem in India. Savitri Jindal’s remarkable achievements extend beyond business, as she holds the distinction of being India’s wealthiest woman. Her legacy in both politics and entrepreneurship continues to shape the country’s landscape, making her a prominent and influential figure in India’s contemporary history.
Cyrus Poonawalla – $20.7 B
Cyrus Poonawalla, a prominent figure in India’s vaccine development landscape, has achieved remarkable success through his ownership of the privately held Serum Institute of India (SII). His son, Adar, plays a crucial role in managing this renowned institution. The Serum Institute proudly holds the coveted title of being the world’s largest vaccine manufacturer, a distinction that has been further solidified by its pivotal role in producing and distributing COVID-19 vaccines. This remarkable feat has not only elevated the status of SII but also contributed significantly to global efforts in combating the pandemic. Cyrus Poonawalla’s leadership and the SII’s dedication to vaccine production continue to make a significant impact on public health worldwide.
Dilip Shanghvi – $19.0 B
Dilip Shanghvi, a visionary leader at the helm of Sun Pharmaceutical Industries, has achieved remarkable success in the pharmaceutical industry. At 67 years of age, he has accumulated an impressive fortune of $18.7 billion through his pioneering efforts. Shanghvi’s strategic brilliance propelled Sun Pharmaceutical to become the first Indian pharmaceutical company to attain a staggering valuation of $5 billion. One of the pivotal moments in his journey was the game-changing acquisition of Ranbaxy Laboratories in 2014, a deal worth $4 billion. This strategic move not only solidified Sun Pharma’s position in the market but also underscored Shanghvi’s knack for making bold and transformative decisions. His remarkable journey in the pharmaceutical world continues to be a source of inspiration for many.
Kumar Birla – $17.8 B
Kumar Birla, a prominent figure in the world of commodities, leads the Aditya Birla Group, overseeing diverse sectors including aluminium, cement, and financial services. At 56 years old, he has been a driving force behind the group’s success. In the past, Birla also played a crucial role as the non-executive chairman of Vodafone Idea Telecommunications, but he stepped down from this position in 2021 due to the company’s mounting debts. In 2023, he returned as a non-executive director. What’s noteworthy is that Birla’s children, Ananya and Aryaman, have recently joined the boards of flagship companies within the group, injecting fresh ideas and energy into the business. This generational transition bodes well for the Aditya Birla Group’s future growth and innovation.
Radhakishan Damani – $16.3 B
Radhakishan Shivkishan Damani, a highly regarded 68-year-old entrepreneur and renowned investor, is widely recognized as the visionary founder behind Avenue Supermarts Limited. Under his leadership, Avenue Supermarts has flourished into a prominent retail giant in India, boasting a vast network of over 200 DMart stores across the country. Notably, Mr. Damani exercises meticulous control over his diverse investment ventures through Bright Star Investments Limited, showcasing his astute financial acumen. His remarkable journey serves as an inspiration to aspiring entrepreneurs and investors alike, and his success story continues to be a subject of admiration and study in the business world.
Lakshmi Mittal – $16.0 B
Lakshmi Mittal, at 73 years old, is a renowned figure in the steel industry, serving as both the chairman and chief executive officer of ArcelorMittal, the largest steel producer globally. In a remarkable move in 2019, he teamed up with Nippon Steel to successfully acquire Essar Steel for a staggering $5.9 billion, showcasing his exceptional strategic skills. While Mittal maintained his role as executive chairman, he handed over the CEO position to his capable son, Aditya Mittal, in 2021. However, recent geopolitical events, particularly Russia’s invasion of Ukraine, have posed challenges for ArcelorMittal’s Kryvyi Rih factory in Ukraine, impacting production. Despite these hurdles, Mittal’s legacy in the steel industry remains a powerful force to reckon with.
Uday Kotak – $13.2 B
Uday Kotak, aged 64, holds the prestigious position of founder and managing director at the Kotak Mahindra Group. In a strategic move back in 2020, he opted to decrease his ownership stake in the bank. This decision aimed at enhancing compliance and regulatory flexibility, reflecting his commitment to maintaining the highest standards in the financial industry. Furthermore, Uday Kotak is actively grooming Jay Kotak, a promising talent, to assume a prominent leadership role within the organisation. This succession plan underscores the group’s dedication to nurturing talent and ensuring a seamless transition of leadership for a bright and sustainable future.
Conclusion
India’s wealthiest individuals in 2023 are a diverse group of entrepreneurs and business leaders who have not only achieved remarkable financial success but have also made significant contributions to their respective industries and society at large. Their stories of innovation, resilience, and strategic prowess continue to inspire and shape the economic landscape of India and the world. These individuals represent the potential and opportunities that India offers in the global business arena, reaffirming the country’s status as a rising powerhouse in the world of wealth and entrepreneurship.
FAQs on Top 10 Richest Person in India
Who is the richest person in India in 2023?
The richest person in India in 2023 is Mukesh Ambani, with a net worth of $91.7 billion.
How many Indians made it to Forbes' 2023 World's Billionaires list?
In 2023, a total of 169 Indians earned a spot on Forbes' World's Billionaires list, up from 166 the previous year.
What is the source of Mukesh Ambani's wealth?
Mukesh Ambani's wealth primarily comes from his position as the Managing Director and Chairman of Reliance Industries, a conglomerate with diverse interests, including petrochemicals, oil and gas, retail, and telecom.
What allegations have been made against Gautam Adani, and how did they affect his firm's market valuation?
Gautam Adani faced allegations of financial misconduct and market manipulation by Hindenburg Research, which resulted in a significant decline of over $120 billion in his firm's market valuation after the publication of their research.
Who owns HCL, and what is its significant contribution to the technology sector?
HCL is owned by Shiv Nadar, and the company has made significant contributions to the technology sector with a client roster that includes industry giants like Cisco, Microsoft, and Boeing.
