Meet man, who has emerged as highest wealth gainer of India in Forbes 2024 list, not Mukesh Ambani, he is...

Gautam Adani Tops Dollar Gains in Forbes India's Rich List
New Delhi: Gautam Adani, the chairman of Adani Group, has emerged as the biggest dollar gainer in the latest Forbes India 100 richest tycoons list. His family's net worth has surged to an impressive $116 billion, reflecting a significant recovery from last year’s short-selling attack that affected his wealth. Together with his brother, Vinod Adani, Gautam added a remarkable USD 48 billion to their fortune, resulting in a substantial 71 percent increase.

Following closely behind is Mukesh Ambani, the chairman and managing director of Reliance Industries, whose wealth rose by USD 27.5 billion, bringing his total net worth to $119.5 billion. Ambani's increase of 30 percent places him as the second biggest dollar gainer this year. In a gesture to celebrate the festive season, Reliance announced a bonus issue of shares as a Diwali gift for its investors.

This year marks a record-breaking moment for India’s wealth landscape, as the collective net worth of the country’s 100 richest individuals has surpassed the trillion-dollar mark for the first time. Over 80 percent of these billionaires are wealthier than they were a year ago, and many have doubled their fortunes since 2019. The Forbes report indicates that 58 of the wealthiest Indians have added at least $1 billion to their net worth, with six individuals seeing increases of over $10 billion each. Notably, the top five billionaires alone have gained nearly USD 120 billion collectively, with the top 12 members accounting for around half of the overall wealth.

In a noteworthy achievement, Savitri Jindal, the head of the OP Jindal Group, has risen to third place on the list for the first time. She is one of nine women represented, an increase from eight last year. The new female entrant is Mahima Datla, who oversees Biological E, a privately-held vaccine manufacturer.

Four newcomers joined the ranks this year, including B Partha Saradhi Reddy, the founder of Hetero Labs, known for generic medicines, and Harish Ahuja, whose company Shahi Exports supplies to major brands like H&M and Calvin Klein. Surender Saluja, the founder of Premier Energies, became a multi-billionaire after his solar panel company went public in September.

Dilip Shanghvi, the founder of Sun Pharmaceutical Industries, climbed to fifth place with a net worth of USD 32.4 billion, driven by increased demand for his company’s skin treatment products. Additionally, the siblings Sudhir and Samir Mehta saw their wealth more than double to $16.3 billion, benefiting from their company, Torrent Pharmaceuticals, which is actively pursuing acquisitions.

The real estate sector also saw notable gains, with four major property fortunes up by more than USD 16 billion combined. Irfan Razack and his siblings, who run Prestige Estates Projects, capitalized on the real estate boom in India’s technology hub, Bangalore, and are now expanding their influence in Mumbai, the nation’s financial center.

Finally, the Godrej family has made headlines by separating their holdings for the first time, with brothers Adi and Nadir Godrej managing Godrej Industries and their cousins Jamshyd and Smita Godrej overseeing Godrej & Boyce. Among the youngest members of this prestigious list is Nikhil Kamath, co-founder of the discount brokerage Zerodha, who at 38 years old represents the new generation of wealth in India.

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