The number of billionaires in India is likely to go up by 50 in a year and touch 150 with some technology and e-commerce companies going public in 2015, officials of Hurun Report India said.
India has grown faster than any other country in the ‘Hurun Global Rich List’ and is now placed in the third spot after US and China. India has displaced Russia and moved up from the 27 th spot in just a year, sources said. Hurun Report released the Hurun Global Rich List – India 2015, a list of the richest people in India featuring in the Hurun Global Rich List with a cut-off of R 6,000 Crore.
Collapse of the ruble has hurt Russians with many billionaires falling off the list, Anas Rahman Junaid, publisher at large of Hurun Report India said.
The US and China make up for half of the world’s billionaires. “The number of Indian billionaires stands at 115 if we add non-resident Indians to the list. The number of billionaires in India is likely to grow by 50% in the next one year with so many companies planning to go public. Some of the stake holders in e-commerce companies would feature in the next year’s list. US and China are likely to grow only 20 % in the coming year,” Junaid added.
Mukesh Ambani of Reliance topped the list of 97 individuals in India with over R6,000 crore of net worth.
His wealth is estimated at R120,000 crore and seen higher by 11% from the previous list.
Dilip Shanghvi (58) of Sun Pharmaceuticals continued his rise up the list, to second place after a 26% surge in his wealth. Last year, Shanghvi broke into the top-three.
This year, Sun Pharmaceuticals acquired Japanese-owned Ranbaxy, making Sun the largest drug maker in India and fifth largest in the world.
The deal values Ranbaxy at 2.2 times its revenue of R10,800 crore. The total wealth of India’s Top 97 in 2014 increased to R15.96 lakh crore ($ 266 billion), 14% of India’s burgeoning 2014 GDP (USD 1.877 trillion).
Pallonji Mistry (85), with a personal fortune of R96,000 crore, is the third richest Indian.
Azim Hashim Premji saw his 57% stake in Wipro rise 11% in value, taking him to the fourth place and making him the richest India hailing from South India with a fortune of R84,000 crore.
Gautam Adani shot into the top 10, with a net worth of R44,020 crore, up 152% from last year. Stock prices of his flagship companies Adani Enterprises and Adani Ports were up 180% and 90% respectively, sources said. Fourty billionaires reside in Mumbai, equating to 58 % Mumbai’s estimated GDP of 2012. In India, manufacturing produced the most number of billionaires (24%), followed by pharmaceuticals (14%) and real estate (12%).