Billionaire Gautam Adani has ascended to the top of the 2024 Hurun India Rich List, surpassing Mukesh Ambani with a net worth of Rs 11.6 lakh crore. At 62 years old, Adani’s wealth now outstrips Ambani’s Rs 10.14 lakh crore, relegating Ambani to the second position.
Adani’s rise to the top underscores his significant influence in the Indian business world, while Ambani, long regarded as India’s richest individual, finds himself in second place. The list also highlights other prominent figures, such as Shiv Nadar of HCL Technologies, who holds the third position with Rs 3.14 lakh crore, and Cyrus S. Poonawalla of Serum Institute of India, in fourth place.
The Hurun report reveals that India has added a new billionaire every five days over the past year. The number of individuals with wealth exceeding Rs 1,000 crore has risen to 1,539, up by 220 from the previous year. The cumulative wealth on the list has surged by 46%, with the average wealth increasing by 25%.
Among the billionaires, 1,334 saw their wealth either increase or remain stable, while 272 are new entrants. However, 205 experienced a decline in wealth, and 45 individuals dropped off the list.
India now boasts 334 billionaires, an increase of 75 from the previous year. The Real Estate and Industrial Products sectors have contributed most of the new entrants, with Industrial Products remaining the leading sector with 142 individuals. Notably, the youngest person on the list is just 21 years old, highlighting the youthful dynamism in India’s wealth creation landscape.
Who is Gautam Adani?
Gautam Adani is an Indian billionaire industrialist and the founder and chairman of the Adani Group, a major conglomerate based in India, with interests in airports, ports, power, textiles, healthcare, schools and real estate projects among others. He began his career in his family’s textile business before making significant strides in various industries. Among his notable achievements are the successful expansion of Mundra Port, India’s largest commercial port, and the development of the world’s largest solar power project.
Early Life and Background
Gautam Adani was born on June 24, 1962, in Ahmedabad, Gujarat, into a modest family. His early life was marked by humble beginnings, as he grew up working in his family’s textile business. This early exposure to business laid the foundation for his future entrepreneurial endeavors.
Personal Life
Gautam Adani is married to Priti Adani, a prominent social worker and philanthropist. Together, they have two sons, Karan and Jeet. The Adani family is known for its close-knit and supportive dynamic, with Priti playing a significant role in various charitable activities and social initiatives.
Gautam Adani’s Career
Gautam Adani’s professional journey began with the establishment of the Adani Group in 1988. Initially founded as a trading and export-import company, the Adani Group has since evolved into a diversified conglomerate with interests spanning multiple sectors:
- Power Generation and Transmission: The group has developed a significant presence in the power sector, focusing on both conventional and renewable energy sources.
- Infrastructure: Adani Group has been instrumental in building key infrastructure projects, including roads, airports, and urban development.
- Logistics: The company has developed a robust logistics network, enhancing the efficiency of supply chains across various industries.
- Ports: Adani Group operates several major ports in India, which are crucial for the country’s trade and commerce.
- Edible Oil: The group has also made strides in the edible oil industry, contributing to its diverse portfolio.
Luxury Property
In 2020, Gautam Adani purchased a lavish 3.4-acre estate, known as Aditya Estates, for Rs 400 crore, as reported by LiveMint. The acquisition was made through a successful bid by the Adani Group.
Private Jets
Adani’s personal aviation fleet includes three private jets: a Bombardier, a Beechcraft, and a Hawker. According to The Times of India (TOI), these aircraft accommodate 8, 37, and 50 passengers, respectively.
High-End Cars
Gautam Adani is also the owner of a striking red Ferrari and a luxurious BMW 7 Series, as noted by TOI.
Helicopters
In addition to his jets and cars, Adani has a collection of three helicopters. Among them is the AgustaWestland AW139, a twin-engine, 15-seater purchased in 2011 for Rs 12 crore.
Gautam Adani’s Net Worth
As per the latest Hurun list, Gautam Adani’s net worth is Rs 11.6 lakh crore.
Who is Mukesh Ambani?
Mukesh Dhirubhai Ambani, an Indian billionaire businessman, is Asia’s richest man and the chairman and managing director of Reliance Industries. He oversees Reliance Industries, which generates $110 billion in revenue and operates across diverse sectors including petrochemicals, oil and gas, telecommunications, retail, and financial services.
Mukesh Ambani’s Early Life
Born on April 19, 1957, in Yemen to a Gujarati Hindu family, Mukesh Ambani is the son of Dhirubhai Ambani and Kokilaben Ambani. He has a younger brother, Anil Ambani, and two sisters, Nina Bhadrashyam Kothari and Dipti Dattaraj Salgaonkar. The Ambani family returned to India in 1958, where Dhirubhai Ambani started a trading business focused on spices and textiles. Initially named Vimal, the clothing business was later rebranded as Only Vimal.
Mukesh Ambani’s Family
In the 1970s, Mukesh Ambani and his family lived in a modest two-bedroom apartment in Bhuleshwar, Mumbai. Later, Dhirubhai Ambani purchased a 14-story apartment building called Sea Wind in Mumbai’s Colaba area. Mukesh Ambani married Nita Ambani in 1985, and the couple has three children: Akash, Anant, and Isha. They reside in Antilia, a 27-story private residence in Mumbai valued at $1 billion, which was the world’s most expensive private home at the time of its construction.
Mukesh Ambani’s Education
Mukesh Ambani attended Hill Grange High School in Mumbai’s Peddar Road, where he was classmates with Anand Jain, who would later become a close associate. He continued his education at St. Xavier’s College and earned a Bachelor of Engineering degree in chemical engineering from the Institute of Chemical Technology. Ambani began an MBA program at Stanford University but left in 1980 to assist his father in expanding Reliance Industries.
Mukesh Ambani’s Career
Reliance Industries was founded by Dhirubhai Ambani in 1966 as a small textile manufacturer. Mukesh Ambani joined the family business in 1981 to support his father. Following Dhirubhai Ambani’s death in 2002, Mukesh and his brother Anil Ambani divided the family empire, with Mukesh taking the helm of Reliance Industries.
Mukesh Ambani’s house
Mukesh Ambani and Nita Ambani live in Antilia, a 27-story skyscraper in South Mumbai valued at approximately Rs 15,000 crore ($2 billion). Designed by the American architectural firm Perkins & Will and built by Australia’s Leighton Holdings, Antilia is the second most expensive residence in the world, trailing only Buckingham Palace.
Antilia features nine high-speed elevators, three helipads, a health center, a grand ballroom, a mini-theatre, a yoga studio, a snow room, and Babylon-inspired hanging gardens, among other amenities. This opulent residence epitomizes the Ambani family’s lavish lifestyle.
Sea Wind: The Family’s Former Residence
Prior to relocating to Antilia, the Ambani family resided in Sea Wind, a 14-story tower located in Colaba. This building served as the home for Mukesh Ambani, his mother Kokilaben Ambani, his brother Anil Ambani, and their respective families, with each family occupying different floors.
In 2024, the Ambani sisters, Nina Kothari and Dipti Salgaocar, hosted a grand event at Sea Wind to celebrate their mother Kokilaben Ambani’s 90th birthday. The celebration was attended by the entire family, who wore striking pink outfits for the special occasion.
Mukesh Ambani’s Net Worth
As per the latest Hurun List, Mukesh Ambani has an estimated net worth of Rs 10.14 lakh crore.
