India’s billionaire club saw 57 new entrants this year, with their total rising to 308 and making the country the third-largest home to billionaires globally after China and the US, according to the Hurun Global Rich List 2026, released on Friday.
The surge in new entrants reflects the widening base of wealth creation in the country. Many of the new billionaires emerged from sectors such as healthcare, auto components, energy, and financial services, highlighting how entrepreneurial activity is spreading beyond the traditional strongholds of technology and pharmaceuticals, Hurun Institute said.Despite the large number of additions, the net increase in India’s billionaire population stood at 24 compared with last year, with as many as 27 individuals dropping off the list.
Billionaire wealth rises despite uneven fortunes
India’s cumulative billionaire wealth has reached about Rs 112 lakh crore. Overall, 199 Indian billionaires saw their wealth rise during the year, while 109 recorded either a decline or no change in their fortunes.
The average wealth of Indian billionaires now stands at about Rs 36,570 crore, which is higher than the average wealth of Chinese billionaires. This indicates that while China continues to lead in the total number of billionaires, India’s wealthy individuals on average hold larger fortunes.
Reliance Industries Chairman Mukesh Ambani retained the title of India’s richest person and Asia’s wealthiest individual. His wealth rose 9% to Rs 9.8 lakh crore. Gautam Adani remained the second-richest Indian despite a 14% decline in his fortune. His wealth stood at Rs 7.5 lakh crore.
Roshni Nadar Malhotra and family of HCL Technologies ranked third with Rs 3.2 lakh crore, making her the only woman among India’s top 10 wealthiest individuals. Cyrus S Poonawalla and family — the promoter of Serum Institute of India — moved to the fourth position after a sharp increase in wealth to Rs 3 lakh crore. Kumar Mangalam Birla and family secured the fifth position as the Aditya Birla Group continued to expand its presence across sectors. Sector-wise, healthcare produced the highest number of new Indian billionaires, followed by industrial products and consumer goods.
Energy packs outsized punch in wealth creation
The energy sector, despite having only eight entrants, generated Rs 18.3 lakh crore in wealth, accounting for about 16% of India’s cumulative billionaire wealth. India’s youngest billionaire on the list is Ritesh Agarwal of Oyo, aged 32, with a net worth of about Rs 14,440 crore. The Hurun report noted that India’s wealth landscape has changed significantly over the past decade. More than 80% of Indian billionaires on the list today were not present 10 years ago, reflecting rapid economic transformation and the rise of new-age entrepreneurs across industries.
Mumbai continues to dominate India’s billionaire landscape with 95 billionaires residing in the city. However, it has lost its status as Asia’s billionaire capital to Beijing and Shanghai, which now 107 and 120 ultra-wealthy residents, respectively.
The city added 15 new billionaires this year, more than New York, which added 14, and London, which added nine.