India saw a 29% increase in the number of billionaires, surpassing the 300 mark for the first time, reaching a record 334 billionaires, according to the latest 2024 Hurun India Rich List. This is a sixfold increase since the list was first published 13 years ago. Additionally, the country produced a new billionaire every five days over the past year.
The list reveals that India currently has 334 US dollar billionaires, up from 259 in the previous year, 2023. “India has 334 billionaires, up 75 compared to last year,” it said.
Anas Rahman Junaid, founder and chief researcher, Hurun India, said, “India continues to score Gold in the ‘Wealth Creation Olympics’. The number of billionaires in 2024 Hurun India Rich List hits triple century, with all the top 20 sectors adding new faces to the list. The top 20 sectors all added new faces, showcasing the unstoppable spirit of Indian entrepreneurs as they drive growth across the board.”
“India is emerging as Asia’s wealth creation engine! While China saw a 25% decline in its number of billionaires, India experienced a 29% increase, reaching a record 334 billionaires”, he said.
For the first time, the Hurun India Rich List includes 1,539 entries, representing a wide array of wealth creators—from family-owned businesses and startup founders to private equity investors, angel investors, next-generation leaders, film stars, and more.
According to the Hurun list, India now has 1,539 individuals with a net worth of Rs 1,000 crore or more, which is 220 more than last year and includes 272 new entrants. This marks the first time the list has surpassed the 1,500 mark, reflecting an 86% increase over the past five years.
“India minted a new billionaire every 5 days last year,” said the 2024 Hurun India Rich List.
It also said, “India’s manufacturing sector is on steroids! 1,016 manufacturing Hurun Rich listers added Rs 28 lakh crore of wealth this year.”
The youngest billionaires on the 2024 Hurun India Rich List are Harshil Mathur and Shahank Kumar, both 33 years old, and founders of the payment solutions app Razorpay.
In a noteworthy addition, Bollywood superstar Shah Rukh Khan, 58, has joined the 2024 Hurun India Rich List with a net worth of Rs 7,300 crore. His wealth primarily comes from his investments in the Kolkata Knight Riders cricket team and Red Chillies Entertainment.
Other prominent figures from the film industry on the list include Juhi Chawla and her family, Hrithik Roshan, Karan Johar, and Amitabh Bachchan.
