Mumbai emerged capital for India’s super-rich

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MUMBAI: Mumbai registered an increase of 78 individuals in the rich list and Delhi added 52. With 182 individuals, Mumbai is the capital for India’s super-rich, followed by New Delhi (117) and Bengaluru (51), latest Hurun Report said.

Divyank Turakia, founder of media.net, youngest billionaire, along with Anas Rahman Junaid of Hurun Report India today unveiled the 6th edition of Hurun India Rich List 2017 at Art Lounge, The World Towers by Lodha Group, Mumbai.

According to the report, with 26 new entrants, Ahmedabad breaks into top 5. With 22 and 11 India Rich Listers, Chennai and Kanpur respectively breaks into top 10 cities of residence for Hurun India Rich Listers.

There are 18 new cities in this year’s list compared to last year. Chennai and Kanpur have performed well this year with a 35% and 27% increase in number of India Rich Listers respectively and have reserved spot amongst the Top 10 cities this year.

Interestingly, Udaipur has 3 Indian Rich Listers, Vadodara has 2, and Kanchipuram and Faridabad has 1 Indian Rich Lister in Hurun India Rich List 2017.

Mukesh Ambani Ranked First

Mukesh Ambani (60), with net worth of Rs. 257,900 crore is ranked first in the list for the sixth consecutive year. His wealth is 50% more than the GDP of the country of his birth – Yemen.

Haridwar-based Acharya Balkrishna (45) of Patanjali rose to 8th position, from 25th last year.

The biggest gain registered was a 321% increase by Radhakishan Damani (62), Chairman of Avenue Supermarts followed by Anurang Jain (55) & family, the Managing Director of Endurance Technologies with a wealth increase of 286%.

Kishore Biyani of Future Retail registered a 259% wealth increase.

Eklavya Juneja (24) of Mankind Pharma is the youngest person in the list. He owns 12% of Mankind Pharma which was founded by father Rajeev Juneja.

All the under 40 entrepreneurs in Hurun India Rich List 2017 derive their wealth from innovative technological ventures. Divyank Turakhia (34) of Media.net is the youngest self-made billionaire in the list. Divyank Turakhia bootstrapped his company media.net without external funding. Rest of the entrepreneurs raised money from some of the top international funds.

Kushal Pal Singh (86) of DLF is the richest real estate billionaire in the list with a wealth of Rs. 27,400 crore.

Mangal Prabhat Lodha (61), founder of Lodha Group is the richest private real estate developer in the list with a wealth of Rs 15,700 crore followed by Jithendra Virwani (51) of Embassy Property Developments with Rs 8,800 crore.

Also Read: Demonetization and GST not impacted wealth creation, says Hurun Report

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