the richest man in india

If you’re smart, you’re going to make a lot of money without borrowing.” – Warren Buffet

According to Wikipedia, India is a developing country and third-largest economy in the world with a GDP of $2.30 trillion. In 2015, it was ranked the fastest growing economy in the world, and why not, some of the richest persons in the world belong to India. For the last few years, India had been experiencing an economic slowdown, which led to the loss of money for the richest people in India in 2019.

Global lists of billionaires featuring the richest man in India

Speaking of economy, the sectors that constitute most parts of India’s economy are agriculture, business industries, handicrafts, and other services. Recently, India has seen significant growth in terms of Information Technology, contributing to its economy.
However, it is interesting to note despite the economic turndown, Mukesh Ambani, number one on the list of top 10 richest people in India remains unaffected and adds 24 percent wealth due to the telecom business. Meanwhile, Forbes released its list of 100 richest people in India, which shows that half of India’s billionaires lost money in 2019.

List of top 10 wealthiest people in India who are ranked on the list of 200 richest people in the world.

On the contrary, India becomes the third country after Germany and the UK based on Hurun Global Rich List 2020. The country has added 34 billionaires to the list, increasing the total to 138. Furthermore, India is estimated to add 70 new billionaires between 2018-2022 every day. As expected, Mukesh Ambani is the only Indian to be featured on the list. Let’s take a look at the list of 10 richest men in India, as of 2020.

#1 Mukesh Ambani

  • Net worth – $51.4 billion
  • Age – 62
  • Origin of wealth – Petrochemicals, oil and gas

Mukesh Ambani becomes the richest man in India twice in a row and secures 15th position among the top 20 richest people in the world. He is the MD of Reliance Industries and the oldest son of Dhirubhai Ambani.

Early life

  • Born on 19 April 1957 in Aden, Yemen, Mukesh Ambani completed his schooling from Abaay Morischa School in Mumbai. 
  • He graduated from the Institute of Chemical Technology, Mumbai with a degree in Chemical Engineering. 
  • Mukesh Ambani left his MBA studies and came back to India in 1980 to help his father run the family business. 
  • Initially, he used to live in a two-room house, with his family. But as his father’s business thrived, he started dreaming big and invested his time and efforts by welcoming new challenges.

Success story

  • Later, he established Reliance Communication in 1986, followed by Mukesh Petroleum Industry, in Jamnagar which refines more than 660,000 barrels of crude oil. 
  • Subsequently, he invested in a new organization called “Jio Broadband” and in only 170 days he successfully acquired 1.5 billion clients. 
  • Capping a capital of Rs.170,000 billion under Reliance Jio and Rs.8,300 trillion under Reliance Industry, he along with his family and 600 workers lives in a 14-story building named “Antilia”, worth 15,000 crores. 
  • He owns BMW, Mercedes Benz, Rolls Royce, Falcon Jet, Boeing business fly, a yacht worth 700 crores to name a few among his total wealth. No surprise, he is the richest man in India, right?

    Certainly, the business mogul is the idol of every young entrepreneur and today titled as the richest person in India. He welcomes new talent and makes significant efforts to bring the ideologies of modern India to life.

#2 Gautam Adani

  • Net worth – $15.7 billion
  • Age – 57
  • Origin of wealth – Commodities and infrastructure

Gautam Adani is 150th among the 200 richest people in the world. Ranked as the second richest person in India, he is the chairman and founder of the Adani group. If you are looking for a “rags to riches” real-life story, you shouldn’t miss out on this one.

Early life

  • Adani is a college dropout who did not inherit his wealth and had a penchant for business. He was born on 24 June 1962 in Ahmedabad, Gujarat. 
  • He belonged to a Jain family with 8 children including himself. Gautam completed his schooling from Sheth Chimanlal Nagindas Vidyalaya school in Ahmedabad and later enrolled in Gujarat University for Bachelor’s degree in Commerce. 
  • But, he left college in the second year and moved to Mumbai in 1978 to pursue his dream to become a businessman.

Success story

  • Previously, he started working as a diamond sorter for Mahindra brothers when he first encountered his lady luck. 
  • He was good at accounts and understanding the nitty-gritty of trading, which led to the set up of his diamond brokerage at Zaveri Bazaar. 
  • Subsequently, his elder brother, Mahasukh Adani requested him to return home because he had set up a plastic unit in Ahmedabad. 
  • This was when Gautam saw the genesis of importing polyvinyl chloride as a raw material. This was a turning point in his life.
  • Furthermore, seeking economic liberalization as leverage, he established the Adani Group in 1988. 
  • Focused on agricultural commodities, he diversified his business as his power and resources showed tremendous growth. He became one of the richest men in India, and owns Adani Foundation, and is tied to various philanthropic organizations.


#3 Hinduja brothers

  • Net worth – $15.6 billion
  • Origin of wealth -Diversified

Hinduja brothers ranked as 3rd among the richest people in India. For the third time, they secured 3rd position on the Sunday Times Rich List of wealthiest people in the UK. The 65th richest family in the world, according to Forbes List, Hinduja brothers are known as “Fab four” in India. Gopi and Sri are two brothers who own the Hinduja empire.

Early life

  • Srichand Parmanand Hinduja is the chairman, philanthropist and primary shareholder of the Hinduja Group.
  • Born on 28 November 1935 in Karachi, British India, he is an Indian born British tycoon, who completed his studies from Mumbai’s Davar’s College of Commerce and R. D. National College.
  • He joined his father’s business on trading and textile, during the initial face of his career.
  • His first business acquisition in the 1960s includes the promotion of Indian film overseas, followed by food commodities and iron ore export to Iran.

Success story

  • With a conservative and opportunist business approach, he invested in different sectors such as metal, chemical, oil and gas, IT and real estate, the power to banking and finance, media, and entertainment. 
  • In addition to this, Ashok Leyland, Gulf Oil, and Houghton International are some of Hinduja Group’s prominent business acquisitions.
  • Presently, he owns a $500 million home in London’s Carlton House Terrace, the third most expensive home in the world.
  • Hinduja brothers took back the top spot among the wealthiest people in the UK with a fortune addition of $1.7 billion, as per BBC.


#4 Pallonji Mistry

  • Net worth – $15 billion
  • Age – 90
  • Origin of wealth -Construction

Hinduja brothers ranked as 3rd among the richest people in India. For the third time, they secured 3rd position on the Sunday Times Rich List of wealthiest people in the UK. The 65th richest family in the world, according to Forbes List, Hinduja brothers are known as “Fab four” in India. Gopi and Sri are two brothers who own the Hinduja empire.

Early life

  • He was born in Gujarat in 1929 to a Parsi family and graduated from Cathedral & John Connon School in Mumbai and Imperial College London.
  • His father built significant landmarks in Mumbai, which includes the buildings of RBI, SBI, Standard Chartered Bank, Hong Kong Shanghai Bank, and many more.
  • Not only this, his father also bought shares of Tata Sons in the 1930s.

Success story

  • Today, he owns Shapoorji Pallonji Construction Limited, Eureka Forbes Limited, and Forbes Textiles because of the Shapoorji Pallonji group.
  • Pallonji Mistry was awarded Padma Bhushan for his contribution to trade and industry by the Government of India in 2016.
  • His properties include a 200 acres horse farm as well as a 10,000 square foot home in Pune, India.
  • More importantly, he is the largest shareholder of Tata Group, with an 18.3% stake in Tata Sons as of 2019.

#5 Uday Kotak

  • Net worth – $14.8 billion
  • Age – 60
  • Origin of wealth -Banking

Uday Kotak, the founder, MD, and CEO of Kotak Mahindra Bank is ranked 5th on the Forbes list of richest people in India in 2019 and ranks 97th among the 200 richest billionaires of the world.

Early life

  • Born on 15 March 1959 to the Gujarati Lohana family, he was raised in a joint family of 60 under one roof. His family was in the cotton trading business.
  • Uday graduated with a bachelor’s degree from Sydenham College and given his mathematical skills, he earned a postgraduate degree in management studies from Jamnalal Bajaj Institute of Management Studies in 1982.

Success story

  • At first, he refused a typical job in a multinational company and decided to invest in his startup, Kotak Capital Management Finance Ltd in the 1980s.
  • Later, in 2015 he partnered with Sunil Mittal to start a small business bank.
  • Finally, he was awarded Ernst & Young World Entrepreneur Of The Year in 2014, and in 2019, he became the highest-paid Indian bank CEO.

#6 Shiv Nadar

  • Net worth – $14.4 billion
  • Age – 74
  • Origin of wealth -Software services

Shiv Nadar, the founder of chairman of the Shiv Nadar Foundation and HCL, is an Indian billionaire who was listed 82nd among the richest people in the world. He is the 6th richest person in India, based on Forbes List 2019.

Early life

  • He was born on 18 July 1945 in Tamil Nadu and earned an Electrical and Electronics Engineering degree from PSG College of Technology, Coimbatore.
  • In partnership with Micro comp, he and his partners started their initial enterprise. 
  • Later, he founded HCL with an investment of 187,000 to make calculators and microprocessors in a garage in 1976.

Success story

  • Shiv Nadar is an Indian IT pioneer and chairman of India’s largest software service provider company, HCL technologies with a revenue of $8.9 billion.
  • In fact, he was awarded Padma Bhushan for his IT services in 2008.
  • In addition to this, he donated $662 million to the Shiv Nadar Foundation for education, which supports his philanthropist approach.

Must Read: Top 10 Largest (IT) & Software Company in India


#7 Radhakishan Damani

  • Net worth – $14.3 billion
  • Age – 65
  • Origin of wealth – Investments and Retail

Radhakishan Damani is the founder of D-Mart, a chain of hypermarkets in India. He ranked 122nd among the top 200 billionaires of the world and 7th richest man in India.

Early life

  • Radhakishan Damani was born in 1954 in a Marwari family in Bikaner, he dropped out of the University of Mumbai where he enrolled for a B.Com degree.
  • He learned business tactics from his mentor, Chandrakant Sampat, an investor.
  • Initially, Damani started as a business trader, but unforeseen circumstances and father’s death led him to the stock market investing.
  • Afterward, he started his retail store in 2002 in the suburban Mumbai area.

Success story

  • Today, he owns Avenue Supermarkets, which includes a hypermarket retail chain of D-Mart and acknowledged as a retail king in India.
  • At present, his properties include a famous 156-room beachfront gateway, Radisson Blu Resort, Alibag, and holds stakes in tobacco firm VST Industries, United Breweries, and many more companies.

#8 Godrej family

  • Net worth – $12 billion
  • Origin of wealth – Godrej group

Godrej family is the owner of the Indian conglomerate, Godrej Group. Founded by two Parsi brothers, Ardeshir Godrej and Pirojsha Bujorji, it has been listed 8th on the richest people in India as per Forbes List 2019. He is the greatest example of succeeding from failures.

Early life

  • Ardeshir Bujorji was born to a Parsi-Zoroastrian family in 1868 in Mumbai. He was raised with 5 siblings. 
  • His father and grandfather were in a real estate business. 
  • He graduated from a law school in 1894, but couldn’t pursue this career because of unsuccessful cases.
  • In 1895, he took a loan from father’s friend instead of inheriting the family wealth. He made surgical tools to sell but annulled it after the denial of the “Made in India” stamp by the proprietary company.
  • In 1897, he started manufacturing high-security patented locks following the lead of newspaper articles by police regarding robberies.

Success story

  • Watching his lock business grow, he and Pirojsha experimented with safe lockers that entered the markets a year later in 1902.
  • Since then, they invested and started manufacturing in diverse sectors including beauty and cosmetics. 
  • Hence, today, Adi, Nadir, and Jamshyd, the grandchildren run the Godrej Group now.

#9 Lakshmi Mittal

  • Net worth – $10.5 billion
  • Origin of wealth – Steel

Lakshmi Niwas Mittal chairs ArcelorMittal, the world’s largest steel-making company. He has ranked 9th on the Forbes 2019 List for the top 10 richest people in India. He secures 114th position among the 200 world’s richest people.

Early life

  • Born on 15 June 1950 in a Jain family in Sadulpur, Rajasthan.
  • He earned a first-class B.Com degree from St. Xaviers College, Calcutta.
  • Mohan Lal Mittal, his father owned Nippon Denro Ispat, a steel business.
  • When Lakshmi was 26 years old, he started PT Ispat Indo, his first steel factory in 1976 in Indonesia.
  • By the 1990s, the family manufactured steel sheets in a cold running mill in Nagpur as well as owned a steel plant in Pune.

Success story

  • He established the Mittal Champions Trust for potential athletes in 2004.
  • In 2003, he started the LNM Institute of Technology in Jaipur and later opened many institutes in India.
  • Today, he is known as the Steel magnate or King of Steel.
  • Consequently, his business ventures and non-profit organizations have awarded him many titles in famous magazines and newspapers worldwide.

#10 Kumar Birla

  • Net worth – $10.5 billion
  • Origin of wealth – Steel

Kumar Mangalam Birla is one of the richest billionaire industrialists and chairman of Aditya Birla Group. He is also listed as the 10th richest person in India who is known as the commodities king.

Early life

  • Born 14 June 1967, in a renowned Marwari family of Rajasthan in Kolkata and raised in Mumbai.
  • He did his MBA degree from London Business School and CA degree from ICAI.

Success story

  • Subsequently, he took the chairmanship of Aditya Birla Group in 2005, followed by a significant increase in annual turnover during his tenure by the year 2019.
  • He has won many awards including Economic Times “Business Leader Award”, International Advertising Association’s “CEO of the Year award”, and “Most Inspiring Business Leader” award to name a few.
  • Today, he is the Indian billionaire industrialist and largest steel conglomerate of India.


Also Read: Top 10 Billionaires around the World


FAQs

Who are the newest billionaires in India?

Certainly, India is booming with new tech companies and young billionaires for the last few years. To begin with, Ritesh Agarwal, the founder of hospitality services OYO rooms, becomes the youngest billionaire in India at the age of 26. Therefore, with the net worth of $1.1 billion, he ranks as the second-youngest billionaire in the world as of 2020.

Next, Vijay Shekhar Sharma, CEO, and Founder of PayTm ranked among the 2,043 richest people in the world. In addition to this, he became a young Indian billionaire at the age of 30 with a net worth of $1.3 billion as per Forbes.

Undoubtedly, most of the budding billionaires are startup founders and gained popularity quickly as they meet the latest consumer demands.

Will India ever have the world’s richest person?

It might come as a surprise, but the richest person in the world is an Indian. Almost, every Indian knows him, his name is Ratan Tata. Yes, he has been the world’s richest man not once but many times.

For the unknown, one of the wealthiest persons in India was not listed in Forbes because 67% of his income goes to charity. Obviously, Ratan TATA, as it seems, is the most generous Indian businessman and philanthropist who aims to make people’s and consumers’ lives better in India. Not to mention, his net worth is around $170 billion including the donations.

Moreover, he is the owner of 96 companies which include Tata Motors, Titan, Tata Communications, Taj Group, and several other companies. Above all, his kindness makes him the world’s richest man with a golden heart.


Thank You!

So, yeah, that’s your 2019’s list of top 10 richest people in India who are famous all over the world. Though, due to the COVID-19, Indian billionaires have lost a significant amount. Nevertheless, the top 15 wealthiest people from India have a total net worth of $215 billion including all the conglomerates, business tycoons, and Ambani himself, based on Forbes 2019 Indian billionaires list

Last but not least, an important fact is many more billionaires, old and new, are in the competition racing to top the charts to secure the top position for India in the global list of billionaires. Thus, you can see, all life-changing ideas are born during the toughest of times. Therefore, if you are going through it right now, don’t see it as a setback. Conversely, you must have confidence, and work hard for it. And, who knows you might be the next billionaire in years to come. 

So, comment below if you have something that we should know or you want to share, we are all years.