Rich List: India, 2023
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Forbes
Forbes Asia
From: June 28, 2023: The Times of India
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Net worth of richest people in Asia, 2023
Hurun
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March 23, 2023: The Times of India
From: March 23, 2023: The Times of India
Mumbai : Mukesh Ambani, with a wealth of $82 billion, has overtaken Gautam Adani to become the richest Indian again, according to the 2023 M3M Hurun Global Rich List. Ambani is now the only Indian among the world’s top 10.
Earlier, Ambani had held the top position for 10 years straight. In September 2022, a Hurun rich list had noted that Adani had overtaken Ambani to become the richest man in India for the first time. According to the Hurun calculations, Adani’s wealth dropped by $28 billion to $53 billion, which led to him losing the second-richest Asian title to China’s Zhong Shanshan. The loss of wealth followed a crash in share prices of group companies after US shortseller Hindenburg’s report was published on January 24. Before the report, Adani was briefly the world’s second-richest person.
Every billionaire in the top 10 list saw wealth erosion. Amazon’s Jeff Bezos saw his net worth decline by $70 billion to $118 billion. Bezos lost more than Adani and Ambani put together.
According to the list, the world lost five billionaires every week since last year. The number of billionaires globally has declined by 269 to 3,112. This only the second time in the last 10 years that the number has declined from the previous year.
Given the size of the market, India has many billionaires who are among sectoral leaders. For instance, Rakesh Gangwal and Rahul Bhatia of Indigo Airlines are the wealthiest aviation billionaires with a net worth of $3. 3 billion.
With a wealth of $27 billion, Cyrus Poonawalla (81) of Serum Institute, is the thirdrichest person in India and the richest healthcare billionaire globally. Byju Raveendran is the second-richest entrepreneur from the education sector, while Ambani is the richest telecom entrepreneur. Kumar Mangalam Birla, who ranks 136th, is the second-richest cement manufacturer and Nusli Wadia is the richest biscuit manufacturer.
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Swati Bharadwaj, March 24, 2023: The Times of India
From: Swati Bharadwaj, March 24, 2023: The Times of India
HYDERABAD: As many as 12 business barons from Hyderabad, including seven from the pharma sector led by Divi's Laboratories founder Murali Divi & family, have made it to the 2023 M3M Hurun Global Rich List of dollar billionaires.
The remaining five from Hyderabad's richie rich dozen are construction, realty and infrastructure players, including new entrant - Alla Ayodhya Rami Reddy of Ramky Group.
The Divi family retained its numero uno spot among the richie rich in the twin Telugu states with a global ranking of 583 and a wealth of $5.2 billion. This was despite their slipping 305 places as compared to the 2022 ranking and a 45% drop in wealth.
B Parthasaradhi Reddy & family of Hetero Drugs climbed 316 spots to reach 686th position globally with $4.5 billion thanks to a 25% addition in wealth, retaining his second spot locally, followed by Megha Engineering & Infrastructures Ltd promoters P Pitchi Reddy and PV Krishna Reddy, who saw the steepest ascent in rankings and wealth addition.
While Pitchi Reddy hit 841st rank globally (1,396 places up) with his wealth jumping 138% to $3.8 billion, his partner Krishna Reddy rose 1,514 places to reach 864th rank as his wealth rose 147% to $3.7 billion.
The two MEIL promoters were followed at fifth spot by MSN Labs' M Satyanarayana Reddy & family, who shored up their rankings by 694 places to reach 1,684th spot with a 33% rise in wealth to $2 billion.
At sixth spot locally, realty player GAR's G Amarender Reddy & family hit 1,887th rank (up 350 spots) thanks to an 18% hike in wealth to $1.8 billion.
Interestingly, Dr Reddy's Laboratories' K Satish Reddy & family and Aurobindo Pharma promoter PV Ramprasad Reddy & family shared the 2191st spot globally and 7th in the Telugu states with a wealth of $1.5 billion.
However, even as Dr Reddy's chairman climbed 46 places despite a 6% decline in wealth, Aurobindo's Reddy slipped 633 places with 38% drop in wealth. My Home Industries promoter Rameswar Rao Jupally & family slipped 286 spots to hit 2,321st place with a wealth of $1.4 billion (down 22%).
This even as Dr Reddy's Labs promoters GV Prasad and his wife Anuradha Prasad shared the ninth spot locally and 2,774th spot globally with Suven Pharma promoter Venkateswarlu Jasti & family with wealth of $1.1 billion each. Both Prasads of Dr Reddy's and Jasti saw their wealth shave off by 15% and 21%, respectively.
The newest entrant from Telugu states on the global rich list, Ramky Group's Alla Ayodhya Rami Reddy, reached a 2,923 rank globally with a wealth of $1 billion.
While Mumbai with 66 billionaires was the only Indian city among the top 10 globally with the sixth highest number of billionaires. In India, New Delhi came second with 39 billionaires, Bengaluru third with 21 followed by Hyderabad and Ahmedabad with 12 barons each at fourth spot.
According to findings, while the world lost five billionaires every week for the last year, India stood third after USA and China with 187 billionaires on the list, despite losing 28 billionaires during the year.
