Vijay Shekhar Sharma Is Richest Under-40 Indian Entrepreneur; Patanjali Promoter Balakrishna Enters Hurun Super Rich List
Paytm founder Vijay Shekhar Sharma reported an increase of 162% in his net worth, which makes him the richest under-40 Indian entrepreneur. His net worth stands at Rs 7300 crore as of now, which is more than any under-40 Indian entrepreneur.
Last year, Sharma’s net worth was calculated at Rs 2824 crore, which has increased 162% due to Alibaba’s investments and higher valuation of Paytm.
These latest numbers were released by Hurun, in their India Rich List – 2016 report.
The other major surprise is the inclusion of Patanjali promoter and Baba Ramdev loyalist Balakrishna in the list of super rich. With net worth of Rs 25,600 crore, he is ranked #26 out of 339 richest Indians. Clearly the massive success of Patanjali brand has led to the meteoric rise of Balakrishna, who was earlier engaged with conducting Yoga camps with Baba Ramdev.
44 year old Balakrishna, along with Baba Ramdev led Patanjali to grow almost five times between FY12 and FY15, whereas at the same time, other big FMCG companies like Dabur and Hindustan Lever grew at a modest rate of 30-70%.
This year, the minimum worth required to be able to enter the super rich list of 339 people is Rs 1600 crore or more ($240 million)
Top 10 Richest People in India
Geographical Distribution of India’s Richest
For the 5th year in row, Reliance Industries Chairman Mukesh Ambani was declared as the richest Indian with total net worth of Rs 1,63,400 crore, followed by Dilip Sanghvi from Sun Pharmaceuticals with net worth of Rs 1,21,500 crore at #2 position.
Pallonji Mistry of Tata Enterprises is at #3 position, with total net worth of 1,10,100 crore.
Some other interesting data from the Hurun’s list of richest Indians:
– Rs 50,400 crore is the minimum cut-off required to enter the top 10 ranking, which was Rs 47,000 crore last year
– Out of 339 super-rich Indians with minimum net worth of Rs 1600 crore, there are 126 billionaires. Last year, out of 296 super-rich with minimum net worth of Rs 1600 crore, there were 124 billionaires
– Uday Kotak is the richest individual from the finances niche with total net worth of Rs 51,600 crore, followed by Sameer Gehlaut (Rs 10,400 crore)
– Pharmaceuticals sector registered the maximum number of rich people in the list with 21 billionaires and 18 individuals; overall, their wealth increased by 17%
– There are 37 Padma Awardees in the list, out of them 4 are women
– 8 new entrants to the list were backed by bumper IPOs, and leading this list is Rakesh Gangwal from Interglobe Enterprise, having net worth of Rs Rs 15,900 crore
– Savitri Jindal is the richest women in the list, with net worth of Rs 35000 crore. She is the Chairman of JSW Steel. Indu Jain from Bennett Coleman, founding company of Times of India newspaper, is the second richest women with net worth of Rs 28,000 crore, followed by Smitha V Crishna from Godrej (net worth of Rs 15,700 crore)
– The youngest Indian in the list is Bhavesh Agarwal, aged 30, with net worth of Rs 3000 crore, and the oldest Indian is Murli Kewalram Chanrai, aged 93 years.
– After Vijay Shekhar Sharma, the Indian with maximum growth in wealth was Rakesh Gangwal, with net worth of Rs 15,900 crore. His wealth increased by 153%.
You can view the full report here.