AR JUNAID
IIFL Wealth Hurun India Rich List 2019 - Key Trends
Introduction
IIFL Wealth Hurun India Rich List 2019 is possibly the most important list since Hurun Report launched the first India Rich List in 2012. In addition to rupee depreciation last year, year India Inc. faced an overall economic slowdown. 112 individuals dropped out from IIFL Wealth Hurun India Rich List 2019 and 344 individuals registered a net drop in wealth compared to 2018 – this constitutes almost 50% of Hurun India Rich List 2018. The number of US dollar billionaires in the list dropped for the first time since the inception of Hurun India Rich List in 2012. One may also note that the slowdown is not as bad compared to that of China where Hurun China Rich List registered 500 dropouts!
Rise of Unicorns: However, the good news is we have 233 new additions to the IIFL Wealth Hurun India Rich List 2019. Pharma continues to contribute to the new addition, followed by Food & Beverages, Jewelry, and Software & Services. It is also interesting to note that all the top 5 fastest creators of wealth are from unicorns such as Udaan, Byjus, Oyo and so on. As mentioned during our 2018 release, some of the founders who have cashed out from ex- unicorns such as Flipkart and so on have started VC houses, directly having an impact on further wealth creation in the new economy.
In the above context, IIFL Wealth Hurun India Rich List is the list of 953 individuals ranked by their net worth, empirically qualifying as the most comprehensive rich list aimed at tracking private wealth in India. We have conducted in-depth research to understand the trends and direction of wealth creation of those featured in the list. In addition to the ranking by wealth, we have also analyzed the source of wealth creation, where they live and have highlighted the market trends and impact of macro on wealth creation. The average wealth in the list is around INR 5,278 crore and the average age is 60.
We may have excluded some names due to the lack of publicly available data. Any misses are unintentional. We look forward to your feedback as it is very important to showcase the success stories of more of these modern businesses.
In 2014, when the Modi government took charge, the number of US dollar Indian billionaires increased by 60% to 109. This shows the trust and the hope placed by corporate India on the current government. The purpose of this list is to try and tell the story of modern India through the stories of India’s most successful entrepreneurs. With a stable mandate for the government and ambitious GDP goals, the story has just begun.
For more details - refer www.hurunindia.net
