WITH 302 NEW FACES HURUN REPORT LAUNCHES ITS SIXTH EDITION OF HURUN INDIA RICH LIST 2017 BETTER THAN EXPECTED CORPORATE RESULTS IN 2017 OFFSET THE IMPACT OF DEMONETISATION MUKESH AMABANI’S WEALTH SHOT UP BY A STAGGERING 58% TO INR 257,900 CRORES AND RETAINS THE RICHEST INDIAN TITLE FOR THE 6TH YEAR RUNNING 617 INDIVIDUALS IN HURUN INDIA RICH LIST 2017 WITH A CUTOFF OF INR 1000 CRORES, COMPARED TO 339 LAST YEAR CUT OFF FOR THE TOP 100 HAS MORE THAN DOUBLED TO INR 8,400 CRORES SINCE 2013 302 NEW FACES AND 22 DROPOUTS PHARMA AND FMCG HAD A STELLAR YEAR IN THE HURUN INDIA RICH LIST BY DOUBLING THE NUMBER OF ENTRANTS TO 79 AND 63 RESPECTIVELY MUMBAI, DELHI AND BENGALURU ADD 78, 52 AND 23 NEW FACES RESPECTIVELY TO REAFFIRM THEIR “BIG 3 CITY STATUS” IN HURUN INDIA RICH LIST 2017 “FMCG SUPER YOGI” ACHARYA BALKRISHNA OF PATANJALI STORMS INTO TOP 10 NEWLY FORMED STATE TELANGANA HAS 38 OF ITS RESIDENTS IN THE LIST NUMBER OF WOMEN IN THE LIST INCREASED BY 300% (53 ENTRIES) THIS YEAR. NUMBER OF SELFMADE WOMEN IN THE LIST QUADRUPLED FROM 2 TO 8 42 YEAR OLD BENGALURU BASED AMBIGA SUBRAMANIAN IS THE YOUNGEST SELF MADE WOMAN IN THE LIST. SHE SOLD HER SHARES IN MU-SIGMA, THE DATA ANALYTICS UNICORN THAT SHE CO-FOUNDED THE BLOCKBUSTER LISTING OF AVENUE SUPERMARTS ADDED 8 NEW ENTRIES IN HURUN INDIA RICH LIST 2017
WITH 15 AND 8 NEW ADDITIONS RESPECTIVELY, CHENNAI AND KANPUR BREAK INTO TOP 10 CITIES IN HURUN INDIA RICH LIST 2017 40 PADMA AWARDEES IN THE HURUN INDIA RICH LIST 2017 22 DROPPED OUT OF THE LIST AND 4 PASSED AWAY SUPPORTED BY HIS LATEST BET IN TELECOM, MUKESH AMBANI ALSO CLIMBED TO TOP 15 IN THE HURUN GLOBAL RICH LIST FOR THE FIRST TIME A TOTAL OF 136 BILLIONAIRES, A RECORD NUMBER SINCE THE INCEPTION OF HURUN RICH LIST IN 2012 WITH WEALTH INCREASE OF 320%, RADHAKISHAN DAMANI, THE NEW RETAIL KING, OF DMART IS THE BIGGEST GAINER IN HURUN INDIA RICH LIST 2017 LED BY DIV TURAKHIA OF MEDIA.NET, 5 SELF MADE INVIDUALS UNDER 40 ALL THE UNDER 40 SELF MADE HURUN INDIA RICH LISTERS DERIVE THEIR WEALTH FROM NEW TECHNOLOGY BUSINESS WITH 182 INDIVIDUALS, MUMBAI TOPS THE LIST FOLLOWED BY NEW DELHI (117) AND BENGALURU (51) WITH 56 LAKH FOLLOWERS IN FACEBOOK, ACHARYA BALKRISHNA IS THE MOST FOLLOWED ENTREPRENEUR IN THE INDIAN SOCIAL MEDIA
Anas Rahman, Founder of Hurun India Rich List and Divyank Turakhia, India's Youngest Billionaire unveil the Hurun India Rich List 2017 in association with Lodha Group and Lamborghini at a Art Lounge, The World Towers by Lodha Group,Mumbai
Hurun Report finds 617 individuals with INR1,000 Crore or more, up 278 from last year, quadrupled from three years ago
On average, the wealth of Hurun India Rich Listers have increased by 17% compared to that of last year
Number of dollar billionaires has increased to 136 from 126 last year. The inaugural Hurun India Rich List in 2012 had 59 billionaires “For every 1 entrepreneur in Hurun India Rich List 2017, we estimate that we missed 3”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India.
40 have migrated from India and are NRIs
16 saw their wealth double year on year
Average age of the Hurun India Rich List is 60;
The fastest riser is Radhakishan Damani (62) of Avenue Supermarts; He registered a 3 times increase in wealth to INR 29,700 Cr
100 individuals saw their wealth decline.
Haridwar-based Acharya Balkrishna (45) of Patanjali rose to 8th position, from 25th last year, after seeing his wealth grow by 173% to INR 70,000Cr
Eklavya Juneja (24) of Mankind Pharma is the youngest person in the list. He owns 12% of Mankind Pharma which was founded by father Rajeev Juneja
Pharmaceuticals dominate with 13% of the list, followed by FMCG and Chemical & Petrochemicals with 10% and 6% respectively
A record high of 50% of Hurun India Rich List 2017 are self-made and are generated by family businesses. Average age of self made Hurun India Richlisters is 62
Hurun India Rich List has eight self-made women this year, compared to two in last year
34 in the list under the age of 40; 28 in the under 40 inherited their wealth
7 individuals in Hurun India Rich List 2017 has ownership in IPL teams and 4 in ISL teams
This year, we split the wealth of Pallonji Mystry among his sons Cyrus and Sharpoor equally. The Mystry brothers own 18.38% stake in Tata Sons through two investment companies Cyrus Investments and Sterling Investment which owns 9.19% stake each. Both the investment companies are equally owned by Cyrus Pallonji Mistry and Shapoor Pallonji Mistry.
The combined wealth of India’s richest is a staggering US$640bn, equating to 1/4thof India’s GDP last year and similar to the GDPs of Switzerland ($660bn), and combined GDP of South Africa ($317bn) & Israel ($340bn).
Leading Authority on India’s private wealth, Hurun Report launches the India Rich List for the sixth time
“The Richest Horoscopes” - Those born in Capricorn, Taurus and Cancer produced most number of individuals in the rich list and Aquarius the least!!! HURUN INDIA RICH LIST 2017 MUMBAI, 25 September 2017: Today Hurun Report released the Hurun India Rich List, a list of the richest people in India with a cut-off at INR 1,000 Cr. This is the sixth year of the list, which has become a benchmark for the private sector and has become widely accepted to be the most robust attempt at covering entrepreneurship in India. Wealth calculations are a snapshot of networth of living individuals as of 31st July, 2017 when the rate of exchange to the US dollar was INR 64.1 Stock Markets Performance
Bombay Stock Exchange (BSE) Sensex went up by 16.1% as on July 31, 2016 to 32,514 on July 31, 2017. For the year under review, BSE Mid Cap (16.4%) and BSE Small Cap Index (2.72%) outperformed the benchmark index. Sensex also outperformed compared to Global indices NYSE (10.5%) and DAX (13.7%). Currently, Indian stock market seems to be trading at an expensive valuation of 23.3x compared to last year’s 19.6x. “The market capitalization of all listed companies is now equivalent to 84% of India’s nominal GDP which is the highest in emerging markets. This year, we have expanded the list to highlight the success stories of some of the emerging entrepreneurs” says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher. “The total number of rich list entrants increased 6 times since we launched the list six years ago; a good indication that Indian entrepreneurs are coming of age with global ambitions” says Rupert Hoogewerf, Hurun Report Global, Chairman and Chief Researcher. Indian currency depreciated by 3% versus USD during the period under review. With networth of INR 257,900 Crore Mukesh Ambani (60), the business magnate, ranked first in the list for the sixth consecutive year. Share price of Reliance industries hit nine year high in July 2017. Over the last one year, Reliance Industries shares have gained over 1% every seven days, rising by 56% in 52 weeks. His wealth is 50% more than the GDP of the country of his birth – Yemen. “It is rare to find a country with such a dominant richest person (Mukesh Ambani) whose wealth is thrice more than that of the no.2 in the list. We have never seen such a wide margin between the richest and the second richest in big countries that include USA, China, UK, Russia and so on”, said Rupert Hoogewerf, Chairman and Chief Researcher, Hurun Report Global With a networth of INR 89,000 Crore, Dilip Shanghvi (61) of Sun Pharma retains the second place despite shares of his flagship company going down by 36%. FDA USA put Sun Pharma under scanner after having noted regulatory breaches – as situation that led to barring new product approvals. The Steel Baron, Lakshmi Niwas Mittal (67) secures third position for the first time with a networth of INR 88,200 Crore due to an uptick in steel prices and demand. Recently he also got a reprieve from import tariffs on steel imposed by the US and Europe and a one-time $832 million saving from a new labor contract signed last year with his US workers.
With networth of INR 85,100 Crore, Shiv Nadar (72), the founder and chairman of HCL, the fourth largest software service has acquired Broomfield, Colorado-based mortgage business process and fulfilment service providing company, Urban Fulfilment Services for $30million in August 2017. HCL has introduced innovative hiring procedures, where the company hire and train students straight out of high school – a first of its kind initiative amongst the large cap companies.
Founder of multi-billion dollar IT giant Wipro, Azim Premji (72) registered a fortune of INR 79,300 Crore. He founded the Premji Invest in 2006 and is a private equity fund that manages almost US$2bn of his personal wealth by investing in capital markets and also by picking up minority stakes in start-ups across India, the US and China.
With networth of INR 71,100 Crore, Billionaire Cyrus S Poonawalla (76) of Serum Institute secures the sixth position in the Hurun India Rich List. He is investing $150 million in a new factory to make a range of vaccines, including for dengue and pneumonia. Poonawalla recently contributed $2.5 million for a hospital named after his late wife, which focuses on the under privileged children and adults.
With networth of INR 70,600 Crore, Port Tycoon, Gautam Adani (55) Chairman of Adani Group made the highest investment commitment of INR 49,000 Crore in Gujarat which would create direct and indirect job opportunities for 25,000 people. This wealth increase is despite a strong controversy he faced from an environmental campaign that was launched to stop the development of Adani Group’s $16.5 billion coal mine in Queensland.
Acharya Balkrishna (45), CEO of Patanjali is now officially part of India Rich List Top 10 and has secured a second place in Indian FMCG market share in under 5 years. The company, with a turnover of INR 10,561 crore in 2016-2017 has been a close competition to major international brands. He owns close to 94 % of Patanjali Ayurved and is the brain behind the admirable growth of Patanjali as a consumer brand. Banker Uday Kotak (58), the managing director of Kotak Mahindra Bank, has a networth of INR 62,700Crore. The board of the Kotak Mahindra Bank decided to raise over INR 5,300Crore by diluting 3.3 % of the promoters holding, for pursuing a host of opportunities, including consolidation. Indian telecom magnate, Sunil Mittal (59), the founder and chairman of Bharti Airtel has a networth of INR 56,500 Crore. Mittal recently signed the agreement to acquire Telenor’s Indian and bought additional 4G spectrum to fight off the mighty rival. He launched the Airtel Payment Bank (APB), a joint venture with Kotak Mahindra Bank and has committed INR 3,000 crore to develop a pan-India banking network and digital payments ecosystem. The Richest Indian families
More than 50% of Indian business listed in the rich list is run by families. This year, Hurun Report has split the families based on available ownership information.
Where they live
Mumbai registered an increase of 78 individuals in the rich list and Delhi added 52. With 182 individuals, Mumbai is the capital for India’s super-rich, followed by New Delhi (117) and Bengaluru (51). With 26 new entrants, Ahmedabad breaks into top 5. With 22 and 11 India Rich Listers, Chennai and Kanpur respectively breaks into top 10 cities of residence for Hurun India Rich Listers. There are 18 new cities in this year’s list compared to last year. Chennai and Kanpur have performed well this year with a 35% and 27% increase in number of India Rich Listers respectively and have reserved spot amongst the Top 10 cities this year. Interestingly, Udaipur has 3 Indian Rich Listers, Vadodara has 2, and Kanchipuram and Faridabad has 1 Indian Rich Lister in Hurun India Rich List 2017. With 214 and 117 entrants respectively, Maharashtra and Delhi are the preferred states of residence for Hurun India Rich Listers. It is interesting to note that in the Hurun India Rich List 2017, 23 individuals have migrated into Maharashtra, 22 to Delhi and 13 to Karnataka to set up and establish their businesses.
↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10 # New to Top 20 Source: Hurun Research Institute. For more details visit www.hurunindia.net UAE, UK & USA are the preferred countries for migration There are 40 immigrants in Hurun Indian Rich List 2017. 64% of them are self made. With 14 individuals, UAE is the most preferred destination for immigration, followed by 10 in UK and 8 in USA. With INR 88,200 crore, LN Mittal of ArcelorMittal is the wealthiest immigrant into UK. With a fortune of INR 31,900CR, M.A Yusuf Ali is the wealthiest immigrant into UAE.
Source: Hurun Research Institute. For more details visit www.hurunindia.net Gainers
The biggest gain registered was a 321% increase by Radhakishan Damani (62), Chairman of Avenue Supermarts followed by Anurang Jain & family (55), the Managing Director of Endurance Technologies with a wealth increase of 286%. The top three in the biggest gainers list are backed by the IPO performance of their companies. For instance, Radhakishan Damani’s wealth increase was backed by the IPO of Avenue Supermarts, which runs the D-Mart brand of stores in the supermarket chain. The shares of Avenue Supermarts were listed at a premium of 102% and rallied further 43% as on 31 July 2017. IPO of auto component maker Endurance Technologies resulted in 286% increase in the wealth of Anurang Jain in 2017. Another notable performer was Kishore Biyani of Future Retail who registered a 259% wealth increase. Merger of Future Retail and Bharti Retail created the biggest supermarket chain with a turnover of INR 15,000 crore and its subsequent relisting resulted in significant wealth creation for Biyani.
Young and Rich! All the young entrepreneurs under 40 in Hurun India Rich List 2016 are active in their respective businesses The youngest person on the list is Eklavya Juneja (24) of Mankind Pharma
The oldest is Keshub Mahindra (94) of Mahindra & Mahindra All the under 40 entrepreneurs in Hurun India Rich List 2017 derive their wealth from innovative technological ventures. Divyank Turakhia bootstrapped his company media.net without external funding. Rest of the entrepreneurs raised money from some of the top international funds. “These self made entrepreneurs symbolize the new age startup entrepreneurs from India. Their success stories will further garner active international investments into Indian startup ecosystem,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India.
Women in the India Rich List increased by 300% from 15 to 53 this year 8.6% of the list are women of which 8 are self-made. The richest women are Savitri Jindal, 66, of OP Jindal Group with INR 46,500 crore, followed by Smitha V Crishna of Godrej, Indu Jain chairperson of Time Group. The richest self-made woman in India is biotechnology queen Kiran Mazumdar-Shaw of Biocon with INR 15,400 crore. Average age of women in the list 56.
Industry analysis At a sectorial level, Pharma / Healthcare (-12.8%) and IT (-5.1%) underperformed among the sectorial indices. All the others performed with at least 15% return – the biggest gainer was realty with a 36.3% return year to date. Indian drug makers are facing pricing pressures and greater regulatory scrutiny in their largest market, the US. “Demonetization, GST implementation and so on have not impacted wealth creation in organized sector; infact, going by the trend in the list, the aforementioned factors seems to have positively impacted the mega rich and their companies. Despite a solid performance of the corporates, a declining trend in national GDP growth points to impact of such schemes on the unorganized sectors”, said Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India. With 79 individuals, Pharmaceuticals leads the list with Dilip Shanghvi as the richest individual with fortune of INR 89,000 Crore. It is followed by FMCG with 63 individuals and Chemicals & Petrochemicals with 38 individuals. Other industries that had a good year include Consumer Durables, Automobiles & Auto Component and Construction & Engineering. BSE Realty index have surged on positives such as RERA and affordable housing initiatives by the Modi government. Consumer Durables gained over 32.7% on timely GST developments and rollout. Banking and Financial sectors gained with RBI stepping in to solve the NPA issues.
Kushal Pal Singh (86) of DLF is the richest real estate billionaire in the list with a wealth of INR 27,400 crore. Mangal Prabhat Lodha (61), founder of Lodha Group is the richest private real estate developer in the list with a wealth of INR 18,400 crore followed by Jithendra Virwani (51) of Embassy Property Developments with INR 16,700 crore. “Formalization of Jewelry sector with 3% GST compared to 2% tax earlier has benefited the large and organized players and has further streamlined the industry value chain” says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher. New Energy India Rich Listers: Tulsi Tanti of Suzlon Energy is the top green energy Hurun India Rich Lister with INR 2,300 crore followed by Anil Chaudhary & family of Kolkata based Vikram Solar with a net worth of INR 1,000 crores. Pharma is still the king! The industries that added the most number of new entrants to the list were pharmaceuticals, FMCG, Construction & Engineering and Automobiles & Auto Components. Almost all the industries added 50% more individuals than last year. Capital Goods, Construction Materials, Retailing and Transportation broke into top 10 for the first time since the inception of Hurun India Rich List 2017.
For a snapshot of the industry that added most number of new entries, refer the table below.
Despite the underperformance of Pharma sector, it still contributes the highest to the list with 79 entries that includes16 billionaires. In 2017, the sector witnessed a 9% growth in cumulative wealth compared to 17% in 2016. But growth in per capita wealth for pharma entrepreneurs in the list declined by 50% mainly on account of wealth split and a lackluster financial performance of some of the major listed and private companies. For instance, wealth of Dilip Sanghvi, the top pharma billionaire declined by INR 32,400 crore to INR 89,000 crore due to poor performance of Sun Pharma in bourses. FMCG
63 individuals derived their wealth from the FMCG sector and contributed 28 new entrants and 15 billionaires to this year’s list. This sector witnessed a 45% increase in wealth compared to 14% in last year. With 173% increase in wealth, Acharya Balkrishna of Patanjali Ayurved marks his entry to the top 10 list. Chandra Mohan RG of Hatsun Agro also registered an increase of 123% backed by stellar performance of his company’s share price Chemicals & Petrochemicals
Indian chemical industry ranks 12 in the world by volume of production and have contributed 38 entrants to the list. Ashwin Dani, Abhay Vakil and Ashwin Choksi, founders of Asian paints, India’s largest paint manufacturer top the chemical entrepreneurs rich list. The sector contributes 17 new entrants to the list of which 9 are self-made. Consumer Durables Consumer Durable sector registered a 77% increase in cumulative wealth and is the best performing sector for 2017. It contributes 37 entrants to list, one less than chemical (38) and one more than Automobile (36).
Godrej family leads the consumer durable sector with a cumulative wealth of INR 189,100 crore. Automobiles & Auto Components Automobile sector grew 53% year on year and has contributed 36 individuals to the list with 12 billionaires. Vikram Lal of Eicher Motors leads the sector with a wealth of INR 44,200 crore followed by Rahul Bajaj of Bajaj Auto and Vivek Chaand Sehgal of Motherson Sumi System with wealth of INR 43,900 crore and INR 27,000 crore respectively. Ecommerce in India Online sales are nearly flat in 2016, after tripling in 2015 and doubling in 2014.
The founders of ecommerce companies have shifted their focus from sales to profits by ceasing subsidised unprofitable sales and concentrated on limiting their losses dented overall sales. Some of the major companies accepted investment based on valuations significantly below their peaks, are now the new normal.
Of India’s 1.2bn population, and only a small portion of 1/5th are shopping online. This is a good opportunity for ecommerce companies. Heavily funded Amazon and Alibaba has resulted in a “bloodbath” in Indian ecommerce. For instance, SnapDeal which had valuation of US$6bn at its speak was struggling to achieve a US$1bn valuation in 2017.
This year entrepreneurs such a s Kunal Bahl (SnapDeal), Bhavish Aggarwal (Ola) are some of the famous entrepreneurs who have been knocked out of the Hurun India Rich List 2017 list due to the current ecommerce market competition.
Real estate and jewelry after demonetisation Real estate is the best performing sector in 2017, with the index returning 36.3% return – possibly because buyers deferred their purchase decision and not discard it due to demonetisation.
Performance of the sector is against the general perception that real estate would be the most affected sector on contrary BSE Realty index fared a whopping 48% return after demonetization. Post demonetization, there has been an increased transparency in the purchase and payment system of property.
On February 2017 government announced infrastructure status to affordable housing to encourage investment in this segment and offered tax sops to developers sitting on completed but unsold inventories.
India consumes almost all the gold it imports and last year demand was 666 metric tons which is higher than the entire gold reserve of the European Central Bank. Demonetisation and introduction of GST accelerated the gradual shift of customers from the unorganised sector that accounts 78% of the retail gems and jewelry market to the organised sector.
On August 2017, Prevention of Money Laundering Act (PMLA) was applied to the gems and jewelry sector after demonetisation; it was a fallout of income-tax raids on jewelers soon after demonetisation in last November, when it was found that they sold gold and jewelry at a huge premium and accepted old currency notes as payment.
Notable Philanthropic Donations in Hurun India Philanthropy List 2016:
Mukesh Ambani, donated INR 303 Cr towards healthcare. He channelizes his philanthropic initiative through Reliance foundation, his philanthropic arm. The primary aim of the foundation is to promote sustainable growth in India. Besides healthcare, his philanthropic interests include social & rural development and education.
Vaccine billionaire, Cyrus S Poonawalla, who set up Serum Institute has donated INR 250 Crores. The funds raised are used for his philanthropic work, including setting up educational institutes and hospitals. His vision “Health for all with affordable vaccines” is revolutionizing the world saving millions of children around the world.
Ajay Piramal donated INR 111 Crores through his philanthropic initiative through Piramal Foundation. It includes activities for education (PFEL), health care (Swasthya), water purification (Sarvajal), rural development (Udgam) and Women Empowerment (Piramal Udgam)
Rakesh Jhunjhunwala has pledged INR 5,000 Crore for the welfare of the society. He is often referred to as the India’s Warren Buffet. A big supporter of various Non-Profit organizations and education trusts including Agastya and Ashoka University.
An Indian diamantaire and philanthropic social activist, Laljibhai Patel, has pledged a donation of INR 200 Crore for the welfare of 10,000 girls of the Patidar community. He said an amount of INR 2 Lakh would be transferred to the second daughter born in the Patidar community when they would attain 21 years of age.
Hurun Report continued its Self-Made Scorecard, measuring the degree to which billionaires are inherited or self-made. The scorecard is out of five, where 1 is inherited and not active in business, and 5 is self-made without help from parents. Self-made with a little help from parents was the most common route to becoming a billionaire, featuring 51% of the list. Second was self-made without help from parents, making up 9% of the list. Third was inheriting a business and growing it into a much bigger entity, with 38% and only one person was Self-Made Degree 1. Entrepreneurs appreciated by the government of India 40 are Padma awardees, of which four are women. BVR Mohan Reddy of Cyient has awarded Padma Shri in 2017. There is no one in Hurun India Rich List 2016 who has received the highest civilian award, “Bharat Ratna”. 7 individuals hold either of the two awards. For instance Kiran Mazumdar Shaw of Biocon and Devi Prasad Shetty of Narayana Hrudayalaya holds both Padma Shri and Padma Bhushan. Pratap reddy of Apollo Hospitals and Ratan Tata of Tata Sons holds both Padma Vibhushan and Padma Bhushan.
Largest public traded companies Of the publicly traded companies on the list, Mukesh Ambani’s Reliance has the highest valuation of INR 524,780 Cr (contributing 5.35% to the NIFTY index), followed by Tata Consultancy Services (owned by the Tata family) with INR 477,343 Cr and Infosys INR 232,290 Cr. Kotak Mahindra & Bharti Airtel with market cap of INR 194,110 and INR 167,011 Cr respectively. Fortune 500: In addition to Reliance and Tata Motors, Rajesh Exports, the flagship company of Rajesh Mehta, is the only other private company in India to feature in Fortune 500. This year’s Hurun India Rich List reveals some interesting nuggets of information Anand Mahindra (62) of M&M invested INR 100,000 in Kotak Group in November 1985, is now worth INR 1,400 crore - a compounded growth rate of 40 per cent over the past 32 years
Kishore Biyani has co-authored one of the most popular business books in India till date. He co-authored this book which has sold more than 100,000 copies.
The new top 10 entrant Acharya Balkrishna of Patanjali Ayurved has published 41 research papers on Yoga and Ayurveda. His work station doesn’t have a computer
B.R. Shetty will invest INR 1,000 crore to produce the costliest ever Indian film titled The Mahabharata, most expensive non English language film.
As a 16-year-old high school student in 1998, Divyank Turakhia founded Media.net with a US$600 investment. He became a millionaire at 18 and its valuation cross US$100 mn when he was 23.
Source: Hurun Research Institute. For more details visit www.hurunindia.net Apart from those mentioned above, Hurun India Rich Listers have interest in other professional leagues such as Pro Kabaddi League and English Premier League. For Instance GM Rao owns UP Yodhas and Gautham Adani Owns Gujarat Fortune Giants in Pro Kabaddi League. Anuradha Jitendra Desai of Venky’s owns Blackburn Rovers F.C. and LN Mittal owns Queens Park Rangers F.C. in English Premier League.
Wealth of Ramesh Agarwal was inherited equally to his sons Pawan Agarwal, Girish Agarwal and Sudhir Agarwal. Stats: Record Highs Cut-off to make the list was INR 1000 Cr, with a record high of 617 individuals, up from 278 last year and 66 the year before. The number of dollar billionaires has jumped to a record high too, with 136 individuals, up 10 from last year.
Social Media: Acharya Balkrishna is not only an expert in creating wealth but also the master of social media. He is the most followed entrepreneur in Facebook with 5 million followers. A snapshot of some of the social media following of the entrepreneurs below
Methodology The Hurun India Rich List is a snapshot of wealth as on 31 July 2017. The exchange rate used for US$ was INR 64.1. The list relates to Indians only, defined as born or brought up in India origin their passport today. Valuing the wealth of India’s richest is as much an art as it is a science. Sure, we have missed some, but we believe the Hurun India Rich List to be the most serious attempt to identify India’s top entrepreneurs and to measure their holdings. Our team of researchers has - for the sixth year running - traveled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, we have used First Chicago Method for valuation. This year, we have split out siblings, so companies like Muthoot Finance have been split across four individuals.
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