India is nowadays on an upward revolution and is regarded as a prime terminus by international investors, increasing the bar for entry into the country’s upmarket club of the 100 richest people. The lowest net worth required to join has reached an all-time high of $2.3 billion. The integrated wealth of the top 10 India’s richest people in 2023 has mostly stayed the same.
The year 2023 saw Mukesh Ambani regaining the number one position on the list of the top 10 India’s richest people in 2023, dropping to the second rank in 2022. Before that, infrastructure tycoon Gautam Adani, who shared a meteoric rise to become India’s wealthiest individual for the first time in 2022, saw an intense drop in his fortune following an adverse report from US short-seller Hindenburg Research in January.
Here are Top 10 India’s Richest People In 2023:
1. Mukesh Ambani
Net Worth: $92 billion
Company: Reliance Industries
Industry: Diversified
Mukesh Ambani is the chairman & MD of Reliance Industries Ltd., an O2C, telecom, and new energy conglomerate. Ambani’s net worth stands at Rs 765,348 crore. He reclaimed the top spot this year, with his net worth soaring by $4 billion.
2. Gautam Adani
Net Worth: $68 billion
Company: Adani Enterprises
Industry: Diversified
Gautam Adani, chairperson, Adani Group, has a net worth of Rs 565,692 crore in rupee terms. After soaring to $150 billion last year, his net worth declined by a whopping $82 billion, or 54.67 percent, this year. Adani controls India’s largest port, Mundra, Gujarat.
3. Shiv Nadar
Net Worth: $29.3 billion
Company: HCL Technologies
Industry: Technology
Software tycoon Shiv Nadar climbed two spots to return to No. 3 as shares of HCL Technologies jumped 42 percent in the past year amid a tech rebound. He saw the biggest wealth gain in absolute terms—$7.9 billion. Nadar has donated $662 million to education-related causes. His net worth is Rs. 243,746.70 crore.
4. Savitri Jindal
Net Worth: $24 billion
Company: OP Jindal Group
Industry: Metals & Mining
Matriarch Savitri Jindal of the OP Jindal Group, a power and steel conglomerate, is at No. 4 with $24 billion, up 46 percent, thanks partly to the September IPO of ports unit JSW Infrastructure by her hard-charging son Sajjan Jindal. She saw the second largest wealth gain—$7.6 billion—in absolute terms this year. She is also the only woman billionaire and an active politician in the top 10. Her net worth is Rs 199,656 crore.
5. Radhakishan Damani
Net Worth: $23 billion
Company: Avenue Supermarts
Industry: Fashion & Retail
Radhakishan Damani, who owns the DMart chain of supermarkets, has a net worth of Rs 191,337 crore. Damani’s wealth saw the second largest drop in wealth this year in absolute terms—a $4.6 billion decline. Damani entered retailing in 2002 with one store. Now there are 271 DMart stores in India.
6. Cyrus Poonawalla
Net Worth: $20.7 billion
Company: Serum Institute of India
Industry: Healthcare
Cyrus Poonawalla is the chairman of the world’s largest vaccine manufacturing company, the Serum Institute of India. His net worth is Rs 172,203.30 crore. SII forged multiple partnerships to make COVID-19 vaccines at the height of the pandemic. Poonawalla’s assets also include stud farms.
7. Hinduja Family
Net Worth: $20 billion
Company: Ashok Leyland
Industry: Diversified
Parmanand Deepchand Hinduja started the Hinduja group in 1914. After the head of the family and former chairman, Srichand Hinduja, passed away in May 2023, the remaining three siblings—Gopichand, Prakash, and Ashok—now control the multinational conglomerate. Their net worth saw the third-largest jump—$4.8 billion—in absolute terms this year. Their total net worth stands at Rs 166,380 crore. The 108-year-old group is present in 11 sectors, including automotive, oil, specialty chemicals, banking and finance, IT and ITeS, healthcare, media, and real estate.
8. Dilip Shanghvi
Net Worth: $19 billion
Company: Sun Pharmaceutical Industries
Industry: Healthcare
Dilip Shanghvi is the founder of Sun Pharmaceuticals, which has more than 40 manufacturing facilities and serves more than 100 countries. With a net worth of Rs 158,061 crore, Shanghvi also has interests in Sun Pharma Advanced Research and BioLight Life Sciences.
9. Kumar Birla
Net Worth: $17.5 billion
Company: Aditya Birla Group
Industry: Diversified
Kumar Birla is the chairman of the textiles-to-cement conglomerate Aditya Birla Group. His net worth is Rs 145,582.50 crore. Birla inherited the group at the age of 28 when his father, Aditya Birla, died in 1995.
10. Shapoor Mistry & Family
Net Worth: $16.9 billion
Company: Shapoorji Pallonji Group
Industry: Diversified
Shapoor Mistry now controls the Shapoorji Pallonji Group after his father’s death, along with Pallonji Mistry and his younger brother Cyrus Mistry, in 2022. The family’s net worth is Rs 140,591.10 crore. An 18.4 percent stake in Tata Sons is their biggest asset.
Source… Forbes India Rich List 2023
