Byju Raveendran, the founder and CEO of the struggling edtech company Byju’s, did not make it onto the Hurun India Rich List 2023 due to investor markdowns. Earlier this year, in March, Raveendran and his family were listed at the 994th position with a wealth of $3.3 billion. Byju’s has been grappling with a series of challenges in recent months.
In the latest release of the Hurun India Rich List, Mukesh Ambani, the Chairman of Reliance Industries, secured the title of the richest Indian with a net worth of Rs 8,08,700 crore. He surpassed Gautam Adani, who had a lead of Rs 3 lakh crore in wealth over Ambani in 2022, but in 2023, Ambani has pulled ahead by Rs 3.3 lakh crore. Cyrus Poonawalla retained the third position on the list with a net worth of Rs 2,78,500 crore. Additionally, Radha Vembu of Zoho overtook Falguni Nayar of Nykaa to become the richest self-made Indian woman on the list. Notably, 20-year-old Kaivalya Vohra from Zepto is the youngest individual featured on the list.
The Hurun India Rich List revealed a significant surge in the number of individuals with wealth exceeding Rs 1,000 crore, with 1,319 such individuals – a 76% increase over the last five years. The cumulative wealth of listers has reached Rs 109 lakh crore, surpassing the combined GDP of Singapore, the UAE, and Saudi Arabia. The list also highlighted Tiruppur as a newcomer among the top 20 cities producing the most list entrants, with Mumbai leading the way with 328 individuals, followed by New Delhi with 199 and Bengaluru with 100 individuals. Industrial products and metals & mining sectors contributed the highest number of new entrants, while the pharma sector continued to have the most representation with 133 entrants.
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