Press release 339 individuals with 1,600 cr, up 43 from last year and 250% from first
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- PRESS RELEASE 339 INDIVIDUALS WITH 1,600 CR, UP 43 FROM LAST YEAR AND 250% FROM FIRST HURUN INDIA RICH LIST 5 YEARS AGO
- PALLONJI MISTRY OF TATA ENTERS TOP 3 FOR FIRST TIME VACCINE KING CYRUS POONAWALLA STORMS INTO TOP 5 55% ARE FIRST GENERATION ENTREPRENUERS, COMPARED TO 80% IN CHINA
- Pallonji Mistry, Indu Jain and Dilip Shanghvi, AWARDED IN 2016, FIRST TIME someone from the Hurun India Rich List since 2014.
- 13 individuals MADE LIST AFTER GOING IPO IN LAST year
- (Bengaluru, 7 th September, 2016)
- SP Hinduja family aggregated their wealth at INR 1, 00,700 Cr. The Hindujas lost their “bronze medal” to Pallonji Mistry.
- Lakshmi Niwas Mittal (66)
- Uday Kotak (57)
- Sunil Mittal Family – Sunil Mittal (58)
- Mumbai Top again With 104 individuals, Mumbai is the capital for India’s super-rich, followed by New Delhi (65) and Bengaluru (28) Table 2
- Names Wealth (INR Cr) City
- Pharmaceutical sector rules
- Industry % change
  
PRESS RELEASE 339 INDIVIDUALS WITH 1,600 CR, UP 43 FROM LAST YEAR AND 250% FROM FIRST HURUN INDIA RICH LIST 5 YEARS AGO WITH INR 1, 63,400 CR, MUKESH AMBANI IS NUMBER ONE IN INDIA FOR 5TH YEAR MUMBAI, NEW DELHI AND BENGALURU MAKE UP 60%, ADDING 26, 10 AND 4 126 BILLIONAIRES, A NEW RECORD PALLONJI MISTRY OF TATA ENTERS TOP 3 FOR FIRST TIME VACCINE KING CYRUS POONAWALLA STORMS INTO TOP 5 55% ARE FIRST GENERATION ENTREPRENUERS, COMPARED TO 80% IN CHINA 10% HAVE MIGRATED FROM INDIA 37 PADMA AWARDEES CONTRIBUTE 28% OF WEALTH. Pallonji Mistry, Indu Jain and Dilip Shanghvi, AWARDED IN 2016, FIRST TIME someone from the Hurun India Rich List since 2014. ACHARYA BALAKRISHNA, 44, OF PATANJALI (‘INDIA’S ANSWER TO UNILEVER’) IS HIGHEST NEW FACE AT 26TH WITH WEALTH OF INR 25,600 Cr 13 individuals MADE LIST AFTER GOING IPO IN LAST year Hurun Report India releases Hurun India Rich List 2016, presented by India’s leading jewellery brand, Joyalukkas –“World’s Favorite Jeweler”
(Bengaluru, 7th September, 2016): Today Hurun Report released the Hurun India Rich List 2016, a ranking of the richest people in India with a cut-off of INR 1,600 Cr. This is the fifth year of the list, which has become a benchmark for the private sector and has become widely accepted to be the most robust attempt at covering entrepreneurship in India. Wealth calculations are a snapshot of the net worth of living individuals as at 31 July 2016 when the rate of exchange to the US dollar was INR 66.69. “Despite an above average monsoon and a steep 24% wage hike, India Inc. fails to cheer the market, resulting in a muted growth in average wealth for 2016. Subdued investors interest in e-commerce and online businesses declined valuations of ecommerce unicorns in 2016 as compared to 2015”, says Anas Rahman Junaid, Hurun Report India, Managing Director and Chief Researcher. Mukesh Ambani (59) running the oil to yarn conglomerate ranked first in the list for the fifth consecutive year. He recently launched Jio and has "declared war" with rest of the telecom operators through aggressive market entry strategy. His strategy of reaching 90% of India's population has the potential of placing him at the top 3 in Hurun Global Rich List. Recently, his wife Nita Ambani became the first Indian woman member of International Olympic Committee. With a net worth of INR 1, 21,500 Cr, Dilip Shanghvi (60) of Sun Pharma retains his second position. On May 2016 Dilip Shanghvi withdraws plans to form a payments bank jointly with the Indian financial firm IDFC Bank and an arm of Norway's Telenor. The Government of India awarded him the Padma Shri, fourth largest civilian honor in 2016. The man who constructed iconic RBI HQ and Bombay Stock Exchange in Mumbai, Pallonji Mistry (87) nicknamed 'Phantom of Bombay House' is on the third position with a net worth of INR 1, 10,100 Cr. The government of India bestowed him with Padma Bhushan third highest civilian award in 2016. Mistry’s primary source of wealth remains his 18.4% stake in Tata Sons, the holding company for the US$130 Bn Tata Group. Backed by the stellar performance of the group, he rose to top 3 for the first time, from 5th last year. SP Hinduja & family aggregated their wealth at INR 1, 00,700 Cr. The Hindujas lost their “bronze medal” to Pallonji Mistry. The automobile-to-financial services conglomerate plans to expand business in automotive, oil, chemicals, trading and infrastructure sectors across Africa by investing US$1 Bn in next five years. Table 1: Hurun India Rich List 2016 – Top 10
↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10 Source: Hurun Research Institute. For more details visit www.hurun.net Cyrus S Poonawalla (72) world's largest manufacturer of vaccines deriving 82% revenue from overseas market witnessed a 97% jump wealth backed by industry leading net profit margin 55% compared to the industry average margin. In November 2015 Poonawalla group announced “Poonawalla Clean City Movement” first of its kind in the country to spend INR 100 Cr to turning Pune into one of the cleanest cities in the country. Azim Premji (71) also known as the Czar of the Indian IT Industry completed 50 years of leading Wipro. Mr. Premji who was 21 years old then, joined Wipro on 1966 as chairman after returning from Stanford University transformed an enterprise focused on vegetable oil business to an IT company in 1981. He wrote a single cheque of US$150Mn for investment into Ranjan Pai’s MEMG, the highest individual investment amount. Shiv Nadar (71) lost INR 21,000 Cr in 2016 and slipped to 7th rank with a net worth of INR 73,000 Cr from 4th rank in 2015. According to a leading Indian financial daily, his flagship company HCL lost at least US$1.5 Bn worth of contracts last year. This could be due to the trend of clients shifting towards cloud computing. Steel baron Lakshmi Niwas Mittal (66) faced a meltdown of INR 16,300 Cr of his wealth due to the steel crisis, but it is still every fifth car uses the steel manufactured by Mittal’s company. ArcelorMittal reported a net loss of US$7.9 Bn in 2015 mostly because of a US$4.8 Bn write-down on iron ore mining business and a US$1.3 Bn charge on inventory due to the global steel price plunge. Uday Kotak (57) climbed to 9th rank 2016 backed by the 9% increase in the share price Kotak Mahindra Bank in which he holds 33.7% stake. Kotak Mahindra Bank acquired a 20% stake in Airtel M-Commerce Services, a subsidiary of Bharti Airtel holding a payments bank license. Sunil Mittal & Family – Sunil Mittal (58), is the founder of Bharti Enterprises, which has interests ranging from telecommunications and retail to financial services and solar power step down to 10th rank owing to 13% decline in the flagship company Bharti Airtel’s share price. Rising competition form Reliance Jio Bharti Airtel invested more than US$4 Bn in 2015 into network improvements and plan to invest US$9 Bn over three years. Mumbai Top again With 104 individuals, Mumbai is the capital for India’s super-rich, followed by New Delhi (65) and Bengaluru (28) Table 2: Geographical spread of Hurun India Rich List 2016
↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 8 Source: Hurun Research Institute. For more details visit www.hurun.net Richest migrants UAE & UK are the capitals for NRIs. 32 are based outside India, led by SP Hinduja & Family (Hinduja Group, London), followed by LN Mittal (ArcelorMittal, London), Yusuffali MA (Emke Group, Abu Dhabi), Micky Jagtiani (Landmark Group, Dubai), Anil Agarwal (Vedanta Resources, London) and Romesh T Wadhwani (Symphony Technology, Palo Alto) Table 3: Hurun India Rich List 2016 – Richest Non-Resident Indians
Source: Hurun Research Institute. For more details visit www.hurun.net Pharmaceutical sector rules The fastest wealth growing sector is transportation which grew by 65% followed by Construction materials and Retailing. The huge growth in transportation sector is supported by IPOs of airlines and logistics companies. Pharma has produced 12% of entries in the Hurun India Rich List 2016, followed by FMCG and Chemicals & Petrochemicals. Other industries that have had a good year include Financial Services and Textiles. Table 4: Hurun India Rich List 2016 – Industry breakdown
↑ Rank increase yoy ↓ Rank decrease yoy - No Rank change yoy * New to Top 10 Source: Hurun Research Institute. For more details visit www.hurun.net Download 1.43 Mb. Share with your friends:
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