Hurun India released the 2024 Hurun India Rich List. This list refers to the richest Indians in the world. This is the 13th year of the list. Wealth calculations are a snapshot as of 31st July 2024.
Mumbai, 29 August 2024: Hurun India released
the 2024 Hurun India Rich List. This
list refers to the richest Indians in the world. This is the 13th year of the list. Wealth calculations are a snapshot as of
31st July 2024.
1,539 individuals, (up by 220) across 134 cities have INR 1,000 Cr in the 2024 Hurun India Rich List. Cumulative wealth has increased by 46%, while average wealth has increased by 25%. 1,334 individuals saw their wealth increase or stay the same, of which 272 are new faces, whilst 205 saw their wealth drop and there were 45 dropouts. India has 334 billionaires, up 75 compared to last year. While Real Estate, Industrial Products added the most significant number of new entrants to the list, Industrial Products is still at number one and has contributed 142 entrants to the list. The youngest on the list is aged 21.
Methodology
The 2024 Hurun
India Rich List has been researched and compiled by the Hurun Research
Institute for the thirteen years running. The cut-off used was 31 July 2024
when the rate of exchange to the US dollar was INR 83.32. The list relates to
individuals born or brought up in India, irrespective of their current
residence or passport.
Valuing the wealth of India’s richest is as much an
art as it is a science. Sure, Hurun Research has missed some, but our endeavor
has been to develop the most comprehensive report of its kind with an objective
to identify and acknowledging India’s top entrepreneurs and business owners.
The source of wealth includes both inherited and self-made wealth. Hurun
Report’s team of researchers have travelled the length and breadth of the
country, cross-checking information with entrepreneurs, industry experts, journalists
and investors.
Hurun Research only uses publicly available data.
For unlisted companies, Hurun Research’s valuation is based on the most recent
investor round and a comparison with their listed equivalents using prevailing
industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV
to EBITDA. Other methodologies are also used, including Discounted Cash Flow,
Tobin’s Q and First Chicago.
Hurun
Report Disclaimer
This report has been prepared by the Hurun
Report. All the data collection and the research has been done by the Hurun
Report. This report is meant for information purposes only. Reasonable care and
caution have been taken in preparing this report. The information contained in
this report has been obtained from sources that are considered reliable. By
accessing and/or using any part of the report, the user accepts this disclaimer
and exclusion of liability which operates to the benefit of Hurun Report. Hurun
Report does not guarantee the accuracy, adequacy or completeness of any
information contained in the report and neither shall it be responsible for any
errors or omissions in or for the results obtained from the use of such
information. No third party whose information is referenced in this report
under the credit to it assumes any liability towards the user with respect to
its information. Hurun Report shall not be liable for any decisions made by the
user based on this report (including those of investment or divestiture) and
the user takes full responsibility for their decisions made based on this
report. Hurun Report shall not be liable to any user of this report (and
expressly disclaim liability) for any loss, damage of any nature, including but
not limited to direct, indirect, punitive, special, exemplary, consequential
losses, loss of profit, lost business and economic loss regardless of the cause
or form of action and regardless of whether or not any such loss could have
been foreseen.
About Hurun Inc.
Promoting Entrepreneurship
Through Lists and Research
Oxford, Shanghai, Mumbai,
Sydney, Paris
Established in the UK in
1999, Hurun is a research, media and investments group, promoting
entrepreneurship through its lists and research. Widely regarded as an
opinion-leader in the world of business, Hurun generated 8 billion views on the
Hurun brand last year, mainly in India and China. Best-known today for the
Hurun Rich Index series, telling the stories of the world’s successful
entrepreneurs in China, India and the world, Hurun’s two other key series
include the Hurun Start-up series and the Hurun 500 series, a ranking of the
world’s most valuable companies.
The Hurun Start-up series
begins with the Hurun U30s, recognizing the most successful entrepreneurs under
the age of thirty, and is today in seven countries. Next up are Hurun Cheetahs,
Chinese and Indian start-ups with a valuation of between USD 300mn to USD
500mn, most likely to go unicorn with five years. Hurun Global Gazelles
recognize start-ups with a valuation of USD 500mn to USD 1bn, most likely to go
unicorn within three years. The culmination of the start-up series is the Hurun
Global Unicorn Index.
Other lists include the Hurun
Philanthropy Index, ranking the biggest philanthropists, the Hurun Art Index,
ranking the world’s most successful artists alive today.
Hurun provides research
reports co-branded with some of the world’s leading financial institutions,
real estate developers and regional governments.
Hurun hosted high-profile
events in the last couple of years across China and India, as well as London,
Paris, New York, LA, Sydney, Luxembourg, Istanbul, Dubai and Singapore.
About
Hurun India
About Hurun India “Promoting
Entrepreneurship Through Lists and Research” Hurun India was launched in 2012,
under the leadership of Anas Rahman Junaid, a graduate of the University of
Oxford. Junaid met Rupert Hoogewerf, the founder of Hurun Global, through
Oxford University and the duo thought it was the right time to speak about
wealth creation in India as they saw India booming. Since then, Hurun India has
been in pursuit to celebrate the stories of India’s transparent wealth
creation, innovation, and philanthropy. The Five core pillars of Hurun India
are:
First, we spotlight Value Creation by companies, the
heartbeat of a developing India. It's through their innovation and excellence
that economic growth is fuelled, paving the way for a prosperous tomorrow.
Next, we focus on Wealth Creation. As these companies
thrive, wealth is generated, birthing a new era of affluent entrepreneurs and
businesses. This wealth is not just financial; it's a wealth of knowledge,
experience, and opportunity, essential for India's next 10-15 years. For
exponential growth, disruption is key.
Enter our third pillar: Start-Ups. These engines of innovation
are the primary source of leapfrog growth, challenging the status quo and
opening new doors of possibilities. While economic development is crucial,
philanthropy plays an equally vital role in ensuring wider prosperity.
Our fourth pillar, Philanthropy, is about giving back,
creating a balanced ecosystem where everyone progresses together.
Lastly, we celebrate our rich
heritage with the fifth pillar: Culture.
India, home to one of the oldest civilizations, boasts a myriad of artists.
Yet, they remain undervalued on the global stage. The Hurun India Art List aims
to change this, promoting our artists to the Hurun network, encouraging
appreciation and collection of their work.
For the full details, please
refer to www.hurunindia.com
For media
inquiries, please contact:
Shobita
George Hurun Report +91
9446580594 |
Hesha Parekh /
Vidhi Shah / Riya Shah Communicate India +91 9833113169
/ +91 9930840442 / +91 9769405832 hesha.parekh@communicateindia.com vidhi.shah@communicate.com riya.shah@communicate.com |