Top 10 richest people in India in 2023

Gain insights into the extraordinary wealth and remarkable achievements of the ten wealthiest individuals in India, spanning various industries

Published by: Blinzo Desk

Who are the top 10 richest people in India? As India’s economy experiences exponential growth, that might frequently be a question you wonder about. A record number of Indians, 169 in total, have made it to Blinzo’ 2023 World’s Billionaires list, an increase from 166 last year.

To probably no one’s surprise, Mukesh Ambani tops the list, and it goes on to include eminent personalities like Gautam Adani and Uday Kotak.

In this post, we bring you a list of the top 10 richest people in India courtesy of Blinzo’ Real-Time Billionaires rankings, which keeps an eye out for billionaires globally.

The information provided corresponds to data collected at 3:09 PM on October 26, 2023.

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Top 10 richest people in India in 2023

Name & India Rank Global Rank Net worth (US$) Company
#1 Mukesh Ambani 12 $86.9 B Reliance Industries
#2 Gautam Adani 24 $49.1 B Adani Group
#3 Shiv Nadar 49 $28.4 B HCL Technologies
#4 Savitri Jindal & family 63 $24.5 B JSW Group
#5 Cyrus Poonawalla 79 $20.5 B Serum Institute of India
#6 Dilip Shanghvi 86 $18.2 B Sun Pharmaceutical Industries Ltd
#7 Kumar Birla 94 $17.9 B Aditya Birla Group
#8 Radhakishan Damani 100 $16.3 B DMart, Avenue Supermarts
#9 Lakshmi Mittal 109 $14.8 B ArcelorMittal
#10 Uday Kotak 132 $12.9 B Kotak Mahindra Bank

 

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Mukesh Ambani

  1. Age: 66 Years
  2. Net Worth: $96.8 B
  3. Source of Wealth: Reliance Industries Ltd

Mr Mukesh Ambani, the Managing Director and Chairman of Reliance Industries, is India’s wealthiest individual. As reported by Forbes, Reliance Industries has a revenue of over Rs 8 lakh crore ($104 billion). It is involved in diverse sectors such as petrochemicals, oil and gas, retail, telecom, and more. Ambani’s three children, Akash, Anant, and Isha, are actively involved in managing different divisions of the conglomerate.

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Gautam Adani

  1. Age: 61 Years
  2. Net Worth: $58.5 B
  3. Source of Wealth: Adani Group

Gautam Shantilal Adani, an Indian billionaire industrialist, is renowned as the founder and chairman of the Adani Group, a multinational conglomerate that is involved in port operations and development within India. The Adani Foundation, established by Gautam Adani in 1996, has his wife, Priti Adani, serving as its chairperson. The group’s business interests encompass various sectors, including ports, airports, power generation and transmission, and green energy. Adani is recognised as India’s largest airport operator and also controls Gujarat’s Mundra Port, the country’s largest.

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In January 2023, Hindenburg Research, a U.S. firm, accused Adani and his companies of financial fraud and stock market manipulation. After the report was released, the stocks of Adani Group companies have been in free fall, resulting in a wipeout of over $120 billion in their market value.

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Shiv Nadar

  1. Age: 78 Years
  2. Net Worth: $29.4 B
  3. Source of Wealth: HCL Enterprise

Shiv Nadar is the proprietor of the HCL group. HCL boasts renowned clientele such as Cisco, Microsoft, and Boeing. In recognition of his remarkable contributions to the IT industry, Mr Nadar was bestowed with the Padma Bhushan, India’s esteemed third-highest civilian distinction, by the Indian government in 2008. Mr Nadar is a highly respected philanthropist, donating Rs 1,161 crore in late 2022.

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Savitri Jindal & family

  1. Age: 73 Years
  2. Net Worth: $23.7 B
  3. Source of Wealth: O.P. Jindal Group

Shiv Nadar is the proprietor of the HCL group. HCL boasts renowned clientele such as Cisco, Microsoft, and Boeing. In recognition of his remarkable contributions to the IT industry, Mr Nadar was bestowed with the Padma Bhushan, India’s esteemed third-highest civilian distinction, by the Indian government in 2008. Mr Nadar is a highly respected philanthropist, donating Rs 1,161 crore in late 2022.

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Savitri Jindal & family

  1. Age: 73 Years
  2. Net Worth: $23.7 B
  3. Source of Wealth: O.P. Jindal Group

Savitri Jindal is an Indian politician and entrepreneur who holds the esteemed position of emeritus chair at the O.P. Jindal Group. The various divisions of the business are run by her four sons: Prithviraj, Sajjan, Ratan and Naveen Jindal. Further, JSW Sports, the sports division of the JSW Group, operates as part of the conglomerate that spans India, the USA, South America, Europe, and Africa. Its objective is to actively contribute to developing a vibrant sports ecosystem in India. Savitri Jindal is the richest woman in India.

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Cyrus Poonawalla

  1.     Age: 82 Years
  2.     Net Worth: $20.0 B
  3.     Source of Wealth: Serum Institute of India

Cyrus Poonawalla, a prominent figure in vaccine development within India, stands as the primary beneficiary of the expanding sales and earnings through his ownership of the privately held Serum Institute of India. Assisting him in its management is his son Adar. The institute is headquartered in Pune. Notably, the Serum Institute has the prestigious title of being the world’s largest vaccine manufacturer. The recent increase in Cyrus Poonawalla’s wealth can largely be attributed to the widespread utilisation of the Covid-19 vaccines developed by the SII.

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Dilip Shanghvi

  1.     Age: 67 Years
  2.     Net Worth: $18.7 B
  3.     Source of Wealth: Sun Pharmaceuticals

Dilip Shanghvi is a prominent Indian business tycoon and the visionary behind Sun Pharmaceutical Industries, the first Indian pharma company with a $5 billion valuation. He grew Sun through a series of acquisitions, the biggest of which was the 2014 purchase of scandal-tainted rival Ranbaxy Laboratories for $4 billion.

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Radhakishan Shivkishan Damani

  1. Age: 68 Years
  2. Net Worth: $17 B
  3. Source of Wealth: Avenue Supermarts Limited

Radhakishan Shivkishan Damani, an Indian entrepreneur and prominent investor, is renowned as the founder of Avenue Supermarts Limited, which runs more than 200 DMart stores in India. Additionally, he exercises control over his investment ventures via his company, Bright Star Investments Limited.

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Kumar Birla

  1. Age: 56 Years
  2. Net Worth: $16.6 B
  3. Source of Wealth:  Hindalco Industries

Recognised as a prominent figure in the field of commodities, Kumar Birla assumes leadership over the Aditya Birla Group. Apart from its involvement in the aluminium and cement sectors, the group also provides financial services. Birla also held the role of the non-executive chairman of the Vodafone Idea telecommunications company; however, he stepped down in 2021 as the entity got riddled with more debts. As of 2023, the company has appointed Birla as a non-executive director.

Recently, Birla’s children, Ananya and Aryaman, have joined his board of flagship companies. Birla expects them to bring fresh ideas, passion, and energy to the business.

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Lakshmi Mittal

  1.     Age: 73 Years
  2.     Net Worth: $16.4 B
  3.     Source of Wealth: ArcelorMittal

Lakshmi Mittal is the current Chairman and CEO of ArcelorMittal—renowned as the largest global steel manufacturer. In 2019, in collaboration with Nippon Steel, ArcelorMittal successfully acquired Essar Steel for $5.9 billion, a company previously owned by Shashi and Ravi Ruia. In 2021, Mittal passed on the CEO role to his son, Aditya Mittal, while maintaining his position as the executive chairman of ArcelorMittal. Russia’s recent invasion of Ukraine caused ArcelorMittal to stop production at its Kryvyi Rih facility in Ukraine.

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Uday Kotak

  1. Age: 64 Years
  2. Net Worth: $13.5 B
  3. Source of Wealth: Kotak Mahindra Bank

Uday Kotak, a prominent figure in India, holds the esteemed Founder and Managing Director position at Kotak Mahindra Group. In 2020, Uday Kotak decided to dilute his stake in the bank for greater regulatory flexibility and improved compliance. As for succession plans, Uday Kotak has been grooming his son, Jay Kotak, to take on a leadership role within the organisation.

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Frequently asked questions

1. Who are the top 10 richest women in India?

The top 10 richest women in India (as of August 21, 2023) are:

  1. Savitri Jindal & Family
  2. Rohiqa Cyrus Mistry
  3. Rekha Jhunjhunwala
  4. Vinod Rai Gupta
  5. Leena Tewari
  6. Smita Crishna-Godrej
  7. Kiran Mazumdar-Shaw
  8. Falguni Nayar
  9. Anu Aga
  10. Radha Vembu

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2. Who are the top 10 richest people in the world?

The top 10 richest people in the world (as of August 21, 2023) are:

  1. Elon Musk
  2. Bernard Arnault & family
  3. Jeff Bezos
  4. Larry Ellison
  5. Warren Buffett
  6. Bill Gates
  7. Larry Page
  8. Sergey Brin
  9. Mark Zuckerberg
  10. Steve Ballmer

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3. Who is India’s first billionaire?

Nizam Ali of Hyderabad, recognized as the first Indian billionaire, was celebrated by Time magazine in 1937 as “The Richest Man in the World.” Reports suggest substantial wealth remains in an English bank, totaling over Rs 3 billion.

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