· The wealth threshold to feature in the IIFL Wealth Hurun India
Rich List 2019 has been retained at INR 1000 Crore
· With a net worth of INR 94,500 crores, Gautam Adani (57) storms
into top 5; his wealth increased by 33% or INR 22,300 crores
· Average wealth of the list is around INR 5,300 crores and the
average age is 60
· Mumbai and Delhi emerged as the hub of the rich and famous
· Cancer, Virgo, Aries, Leo and Scorpio dominate the list
· 29 new USD Billionaires in 2019 – taking the total to 138 Indians;
5 individuals lost the USD billionaire status
· 13 Non-Promoter CEOs feature in the IIFL Wealth Hurun India Rich
List 2019, of which two reside in India
· Led by Roshni Nadar of HCL, 152 women feature on the IIFL Wealth
Hurun India Rich List
MUMBAI, September 25, 2019, (GNI): Hurun Report India and IIFL Wealth Management Ltd. today released 8th edition of IIFL Wealth Hurun India Rich List 2019.
953 individuals, who crossed the threshold of INR 1000 crore across 41
industries feature in The IIFL Wealth Hurun India Rich List 2019. Mukesh
Ambani, Chairman of India’s second-most valued firm Reliance Industries,
continues to top the ‘IIFL Wealth Hurun India Rich List 2019’ for the eighth
consecutive year, with a total net worth of INR 380,700 crores. London-based
SP Hinduja & family, worth INR 186,500 crores, retains the second rank in
the list. With a wealth of INR 1,17,100 crore, Azim Premji, the founder of
Wipro, rises to the third spot. LN Mittal, Chairman & CEO of Arcelor Mittal,
is the 4th richest with a wealth of INR 1,07,300 crore. Gautam Adani stormed
into the top 5 with a total wealth of INR 94,500 crore.
Interestingly, while the number of Indians in the 2019 edition of IIFL
Wealth Hurun India Rich List has grown from 831 in 2018 to 953, the number
of USD Billionaires have reduced from 141 to 138. The combined wealth of top
25 in the list equates to 10% of India’s GDP and that of 953 accounts for
27% of the same. Interestingly, while the cumulative wealth for this year
shows an increase of two per cent compared to last year; the average wealth
shows a decline of 11 per cent. 344 individuals or more than a third of this
year’s list witnessed wealth reduction and another 112 could not meet the
threshold of INR 1000 crore.
Speaking at the launch of the report, Anas Rahman Junaid, MD & Chief
Researcher, Hurun Report India, said, “With all the conversation around
economic slowdown and overheating of economy – the IIFL Wealth Hurun India
Rich List of 2019 celebrates the growing tribe of Indian wealth creators –
both in India and abroad. Sample this, while the number of USD billionaires
have merely grown by 2 as compared to 2016; the number individuals with INR
1,000 crore have increased by a third in the past two years – from 617 to
- This indicates that wealth is getting generated across the “bottom end”
of the top of the pyramid. Globally, the wealth creators drive the growth
and therefore play a vital role in shaping the economy. With Indian
Government setting its sight on USD 5 trillion GDP mark – we are confident
that the size of the India Rich List will easily triple in the next 5
Commenting on the launch, Yatin Shah, Co-founder & Executive Director, IIFL
Wealth Management Ltd., said, “Around 53% of the names featured in the IIFL
Wealth Hurun India Rich List 2019 are those who have inherited wealth. This
could only happen with a strong focus on not only wealth creation but also
wealth preservation. With the India story gaining momentum, supported by a
young and an aspirational demography – the potential of wealth management in
the country has merely scratched the surface. Given the list as an
indicator, the Indian wealth management industry is poised for an
exponential growth as India gears up to emerge as a $5 trillion economy”.
With 246 individuals or 26% of the list, Mumbai is the absolute capital
when it comes to the residence of India’s top entrepreneurs, followed by New
Delhi (175) and Bengaluru (77). The aforementioned cities contribute only
35% of the new additions, compared to 59% of the same last year. There are
82 NRIs on the IIFL Wealth Hurun India Rich List 2019; of which 76% are
self-made. With 31 individuals, USA is the most preferred country for NRIs,
followed by the UAE and the UK.
With a net worth of INR 7,500 crore, Ritesh Agarwal (25) of Oyo Rooms is
the youngest self-made entrepreneur and the wealthiest under 40 years (age)
is Divyank Turakhia (37) of Media.net; Across 16 self-made, under 40
individuals, the average age and wealth is 35 years and INR 4,200 crore
152 women with an average age of 56 years have featured in the IIFL Wealth
Hurun India Rich List 2019. Roshni Nadar (37) of HCL technologies is the
richest woman followed by Smita V Crishna (68) of Godrej Group with a net
worth of INR 31,400 crore. With a net worth of INR 18,500 crore, Kiran
Mazumdar-Shaw of Biocon retains the crown of the richest self-made woman in
About IIFL Wealth Management is one of the leading wealth management companies.
The company has catapulted itself to become one of the largest private
wealth management firms in India in less than a decade. Today, it is the
investment and financial advisor to more than 13,000 influential families in
the High Net Worth Individuals (HNI) and Ultra HNI segments in India and
abroad, with aggregate assets of around USD 24 billion under management,
advice and distribution.
IIFL Wealth Management is one of the pioneers in the industry to bring
about product innovations. The company won ‘The Best Private Bank – India”
at The Asset Awards 2019 as well as “Outstanding contribution to Wealth
Management” by India Wealth Awards 2019, besides more than 89 other awards
of repute since its inception in 2008.
General Atlantic, a leading global growth equity firm, has invested in IIFL
Wealth Management and holds around 21 pc stake in the company. Recently, six
other investors including General Atlantic invested in the company. These
include WF Asian Reconnaissance Fund (a fund managed by Ward Ferry), Rimco
Mauritius, Amansa Holdings Pvt Ltd, General Atlantic Singapore Pte,
Steadview and HDFC Standard Life Insurance.
Headquartered in Mumbai, IIFL Wealth Management has around 1000 employees
and a presence in 7 major global financial hubs and 26 locations including
India and around the world.
About Hurun Report India“Passionate About Indian Entrepreneurship” Hurun Report India commenced operations in 2012 and has been bringing to light stories of successful and emerging Indian entrepreneurs ever since,
felicitating them at a bouquet of Hurun events hosted Pan-India. Hurun
Report in India was co-founded by Anas Rahman Junaid, a graduate of
University of Oxford, who returned to India to contribute to Indian
entrepreneurship eco system.
Hurun Report India serves as India’s definitive voice celebrating wealth
creation, innovation, and growth. Last year, Hurun further expanded its
repertoire by releasing the Hurun Global Rich List 2019, a ranking of the
2,470 US dollar billionaires, so-called ‘Nine-Zero Club’, currently in the
world and the seventh India Rich List which ranks the 953 richest
individuals in India, allowing for comparisons between some of the most
dynamic economies in the world. The purpose of this list is to try and tell
the story of modern India through the eyes of an entrepreneur.
The Hurun India Philanthropy List ranks the most generous individuals in
India and is now in its 5th anniversary. Indians give much more generously
than many have previously understood.
In 2018, Hurun Report launched the Hurun India Women Rich List, aimed at
celebrating the success stories of some of the most amazing women wealth
creators and inheritors.
IN 2019, Hurun India Art List was launched, aimed at tracking some of the
most successful artists who are alive today by way of cumulative auction
prices. This we believe is a watershed moment in the art history of India,
where we expect more entrepreneurs to start collecting.
IN 2019, Hurun Luxury Consumer Survey was debuted to understand and speak
about spending habits of ultra-high net worth individuals.
For the full details, please refer to on http://www.hurunindia.net