By Nesil Staney
Around 93% of total wealth in India is tied to listed companies, according to the 360 ONE Wealth Creators list. 360 ONE Wealth, one of the largest portfolio managers (PMS) in India, founded by Karan Bhagat, launched a wealth-list in collaboration with rating agency Crisil. The list features 2,013 Indian wealth creators worth Rs 100 trillion.
Akash and Anant Ambani are the richest individuals Indians with a net worth of Rs 3.59 trillion each. Isha tops the women’s list. Women own 24% of India’s wealth, and better representation in pharma at 33%.
“It will be an annual list. It will differ from Hurun and Forbes lists in the focus on individuals as against groups and family wealth,” said Bhagat. Apart from the two, Knight Frank also publishes an annual wealth report.
While banking, telecom, and aviation lead the list in average wealth per individual, 62% of wealth creators are actively engaged in their businesses, and 93% of total wealth is concentrated in publicly listed companies. The list, which takes into account individuals with a minimum net worth of Rs 5 billion.
Family members and promoters belonging to the Tata Group, Reliance Industries and Adani Group account for 24% of promoter wealth, estimated at Rs 36 lakh crore. 161 individuals are worth more than INR 100 billion each, while 169 individuals are worth between Rs 50 billion and Rs 100 billion.
Mumbai leads as the financial capital, home to 577 wealth creators who control 40% of the list’s total wealth. New Delhi and Bengaluru have 17% and 8% respectively, while Ahmedabad has 5%. India’s Top 50 business houses account for 59% of the overall wealth tracked.
Pharmaceuticals, IT Software & Services, and Financial Services together account for a significant 26%. The average wealth per individual in the banking sector is Rs 8,500 crore, followed by telecommunications at Rs 8,400 crore and aviation at Rs 7,900 crore.
A majority of India’s first-generation entrepreneurs under 40 attained wealth by leveraging the digital economy. A remarkable 60% of their wealth comes from sectors such as broking and investment platforms (such as Upstox and Zerodha), e-commerce solutions (Urban Company, Swiggy and Honasa Consumer), edtech (Physicswallah and Unacademy), and fintech (like Stashfin, Slice and Onecard).