Indian Billionaires Club: The number of billionaires in India increased to 126, Mukesh Ambani of Reliance Industries on top

Indian Billionaires Club: The number of billionaires in India increased to 126, Mukesh Ambani of Reliance Industries on top
Indian Billionaires Club: Mukesh Ambani, Dheeru Bhai Ambani

There are only a few days left for 2022 to begin. People started making new plans for the new year. Meanwhile, talking about the last year, 2021 was great for investors. The wealth of stock market investors has increased by Rs 72 lakh crore, and the number of Indian billionaires has increased to 126. 

Indian Billionaire, Mukesh Ambani tops the list.

85 Indian billionaires were included in this category in the year 2020. Over the past year and a half, the boom in the stock market and the flood of Initial Public Offerings (IPOs) has brought many new promoters into the country’s billionaire promoter group. The number of promoters and businessmen with a net worth of $ 1 billion (about Rs 75,000 crore) has increased from 85 in 2020 to a record 126 this year. The consolidated assets of these Indian billionaires are around $728 billion (about Rs 54.6 lakh crore), up from $494 billion (Rs 37 lakh crore) in December 2020.

Top Indian Billionaires wealth is 25 per cent of the total GDP

According to the report, the consolidated wealth of the 126 billionaires included in the list is equivalent to about 25 per cent of the country’s estimated Gross Domestic Product (GDP) in FY 2022. Last year, the ratio of wealth to GDP of billionaires stood at 18.6 per cent. According to the report, a strong rally on Dalal Street over the past year and a half and an unprecedented surge in initial public offerings (IPOs) have continued to increase the number of billionaire promoters in India.

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Mukesh Ambani again on the first rank

If we look at the figures presented in the report, Reliance Industries Limited’s chairman Mukesh Ambani once again occupies the first position in the list of billionaires. Mukesh Ambani’s net worth is $104.7 billion (or Rs 7.85 lakh crore), Which is 21.4 per cent higher than last year in dollars. Ambani’s wealth had increased by 37 per cent in 2019. The market capitalization of Reliance Industries increased by 25 per cent to Rs 16 lakh crore from Rs 12.81 lakh crore in December 2020.

Adani’s wealth grew the fastest

Adani Group’s Gautam Adani was the biggest promoter of wealth addition for the second year in a row. Adani Group’s net worth is $82.43 billion in 2021, which is more than double as against $40 billion as of December 2020. In 2019, his worth was $ 20 billion. The combined market capitalization of the listed companies of the Adani Group grew by 133 per cent to Rs 9.87 lakh crore so far this year, from Rs 4.27 lakh crore in December 2020.

The wealth of tycoons

Among tech entrepreneurs, the wealth of Wipro’s Azim Premji, HCL Tech’s Shiv Nadar and Infosys’ founders also saw a significant jump this year. They have benefited from the rise in the shares of IT companies. RK Damani of Avenue Supermart, who is the fourth richest promoter in the country with a net worth of $30.1 billion, is also among the top entrepreneurs who added wealth. Last year his net worth was $18.4 billion. There has also been a significant increase in the assets of Rahul Bajaj of Bajaj Group.

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