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 13^th year of the list. Wealth calculations are a snapshot as of 31^st 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 media.queries@hurunindia.net

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