Oyo’s Founder Is World’s 2nd Youngest Billionaire; Mukesh Ambani Earned Rs 7 Cr/Hr In 2019!
The third largest economy of Asia is now home to 138 billionaires. According to Hurun Global Rich List 2020, India minted three billionaires every month, adding 34 new billionaires last year and securing its position to rank third after China and U.S.
Indian Billionaires Rise despite Economic Slowdown
India minted three billionaires every month as the nation’s stock markets surged to records despite a slowing economy.
After China and US, with 799 and 626 billionaires respectively, India finds 3rd rank in the world, holding 138 billionaires. In fact, if Indian-origin billionaires outside the country are tallied the number jumps to 170.
According to the ninth edition of the Hurun Global Rich List 2020, which has a list of 2,817 individuals across the globe having a net worth of USD 1 billion or more, the world has added 480 billionaires in 2019, more than one a day, while China added more than three a week and India did more than three billionaires a month.
Wealth of billionaire industrialists in India rose on the back of investments in select large caps even as the economy is expected to expand at its slowest pace in more than a decade in the year ending March.
Indian billionaires are defying gravity as the structural slowdown in the economy doesn’t seem to hamper the growth of Indians in the list.
2019 was a good year for the stock markets globally with the NASDAQ rallying by 26%, while Indian and Chinese indices gaining 15% and 14% respectively.
Mukesh Ambani: Only Asian in Global Top 10 Billionaires
- Mukesh Ambani, chairman and MD of RIL, continues to be the richest Asian and the only Asian in global top 10 with a net worth of $67 billion (thanks to their good performance in telecom sector).
- Gautam Adani, chairman and founder of Adani Group, rose his wealth to $17 billion.
- Sunil Mittal, chairman Bharti Airtel Ltd, saw his wealth rise to $3.5 billion, up $1 billion.
- Radhakishan Damani, founder of D-Mart supermarket chain operator, jumped by 80% to $10.6 billion.
- Uday Kotak, the richest self-made banker in the world, chairman at Kotak Mahindra Bank Ltd has a net worth of around USD 15 billion.
- Ritesh Agarwal, Founder OYO Rooms, India’s youngest self made billionaire is the youngest Indian in the rich list with a net worth of USD 1.1 billion.
- Mumbai is the home to more than a third of the richest individuals in the country with 50 such billionaires, making it the ninth richest city globally.
- Following Mumbai, is New Delhi with 30, Bengaluru with 17 and Ahmedabad with 12.
- The highest number of billionaires worked in pharmaceuticals, technology, media and telecom sectors at 22 each.