People thinking about living and working in India may be interested in learning how much money the richest people in India have.
Below, we provide an overview of the 15 richest people in India. We discuss how they earned their wealth, the industries in which they operate, and where they reside.
The Indian Economy
India is a growing economy with a strong potential for future growth. The country's population of over 1.3 billion people and its large and diverse marketplaces make it an attractive destination for business investment.
In 2016, the Indian economy was estimated to be worth $2 trillion – making it one of the world's largest economies.
Top Producing Industries in India
Banking and Financial Services
The banking and financial services industry provides various products and services to individuals, businesses, and governments. These products and services include loans, insurance, investment advice, credit cards, and other financial products.
Real Estate Investment and Management
The real estate investment and management industry helps individuals, families, and businesses buy, sell, or lease commercial or residential properties. It provides a variety of services, such as analysis of market trends, property search assistance, marketing strategies, and legal advice.
Information Technology
The information technology (IT) industry helps businesses and individuals securely communicate. It provides software that allows companies to manage their finances, customer data, and sales efforts.
Business Services
The business services industry provides a wide range of services for businesses. These services include accounting, law, marketing, and human resource management.
Telecommunications
Most of us know the telecommunications industry for producing cell phones. However, the telecommunications industry helps businesses and individuals communicate with each other through telephone calls, text messages (SMS), social media posts (Facebook & Twitter), and internet searches.
It develops devices such as cell phones and smartphones that can connect people anywhere in the world.
15 Richest People in India
The 15 richest people are all billionaires that made it to the Top Ten Richest Indians List and the Forbes Wealthiest People in the World Report. These billionaires operate in and around India.
Below is a summary of the 15 richest people in India and a brief history of how they acquired their billionaire status and ever-increasing net worth.
The information below is based on the latest available public research and current wealth statistics provided by Forbes Wealthiest People in the World report and verifiable financial data resources by country.
#1. – Gautam Adani – Commodities and Aviation
Gautam Adani is the chairman and CEO of Adani Enterprises Ltd., a diversified business group interested in commodities and aviation.
The company's flagship enterprise, the $17 billion Carmichael coal mine project in Queensland, Australia, has faced multiple legal challenges and protests from environmental groups.
However, his other businesses have seen more success – including Adani Ports & Special Economic Zone (APSEZ), an $11 billion investment into Mumbai's commercial waterfront area, and the construction of India's first private steel plant.
He is also interested in airports, which make money through various means, including charging for parking, collecting fees from departing and arriving passengers, and renting out space to commercial entities.
The average airport generates around $4 billion per year in revenue, and this diversified portfolio contributes directly to Adani's billionaire status.
According to Forbes's wealthiest people in the world report, the net worth the real-time net worth of commodities broker and real estate mogul Gautam Adani is $131.4 Billion.
Industries and Interests
- Airports
- Commodities
- Data centers
- Ports
- Power generation
- Real estate
- Defense
- Transmission
#2. -Mukesh Ambani – 5G Telecommunications Mogul
The head of Reliance Industries of India tops the list as one of the richest people in India, with a net worth of just under 100 billion dollars as of December 2022. Mukesh Ambani inherited the profitable Reliance telecom company from his father.
Telecommunications providers make money in various ways, including charging for services and selling advertising. Some providers also charge subscribers for data usage or offer bundling packages that include different services.
The Reliance telecom company is a business that provides phone service or offers related products and services such as broadband internet to Indian-based citizens.
His current net worth is estimated at 90.1 billion dollars.
Most of Amban’s wealth was generated by his successful telecommunications company, which is transitioning from 4G to 5G networks.
Industries and Interests
- Petrochemicals
- Retail
- Telecommunications
#3. – Shiv Nadar – Information Technology Specialist HCL Technologies
Shiv Nadar made his billion-dollar fortune as the cofounder of HCL Technologies, which officially launched in 1976. Since its launch, HCL has become a multi-billion dollar company that staffs thousands of IT professionals in over 52 countries.
IT services provide a range of operational and infrastructure support to businesses. This may include helping companies manage their technology, conducting research and development, or developing IT systems.
Technology service providers make money by charging their customers for access to their servers, programming, and other services. T
They may also charge a monthly fee for software or applications that the customer needs to run their business effectively.
According to the latest wealth reports, Nadar’s net worth was recently valued at $23.7 Billion. Industries.
Industries and Interests
- IT Services
- Software Development
- Telecommunications
- Technology Enabled Services
#4. – Cyrus Poonawalla, Serum Institute of India
Multi-billionaire Cyrus Poonwalla is the founder of one of the world’s leading vaccine companies that specializes in manufacturing COVID vaccines in partnership with key companies and global vaccine distributors like Astra Zeneca.
Vaccine manufacturers make money in a few different ways. The most common way is by charging hospitals, governments, and other organizations for the vaccines they produce or distribute.
They also charge taxpayers for providing health insurance, which helps fund research and development into new vaccines.
Vaccine manufacturers may receive royalties from companies that market their products using vaccine-related slogans or images.
Poonwalla founded the Serum Institute of India in the late 1960s and has since become one of the 15 wealthiest people in India based on its assets and financial investments. Financial reports list Poonwalla’s net worth at just over 20 billion dollars at $20.5 billion.
Industries and Interests
- COVID Vaccines
- Polio Vaccines
- Measles Vaccines
- Flu Vaccines
#5. – Radhakishan Damani – Retail King of Avenue Supermarts and DMarts
Indian-born investor Radhakishan Damani made his fortune in real estate investments and ownership of a wide variety of chain-based retail stores. This Indian-based billionaire has a stake in over 200 convenience stores and retail supermarkets throughout India.
Retail store owners make money by charging customers for goods and services. Of course, there are various prices that retailers can charge based on the product or service.
Retailers also make money through the fees they charge suppliers (such as manufacturers) and from taxes imposed on their sales.
So, not only do retail store owners have to worry about how much they will sell products, but they must also factor in additional costs like shipping and processing fees.
His net worth is estimated at just under 30 billion dollars at $27.6 billion.
Industries and Interests
- Retail Store Ownership
- Avenue Supermarts
- DMart
- Real Estate Investments
#6. – Lakshmi Mittal – Indian Born Steel Tycoon
Lakshmi Mittal started one of India's world’s largest steel and mining companies. Mittal is the founder of the multi-billion dollar Arcelor Mittal company based in India.
There are many ways that steel tycoons make money, but the most common way is by extracting ore from mines and selling it to manufacturers.
Steelmakers then turn raw materials into finished products, including automobiles, buildings, appliances, and other goods that people use every day.
During his long career as a steel entrepreneur, he grew his wealth to its current estimated value of 15.7 billion dollars, which was listed in the Forbes Wealth Report in December 2022.
Interests and industries
- Arcelor Mittal – Retired
- Steel
- Investments
#7. – Savitri Jindal – Jindal Group, Steel, Energy, Infrastructure
Savitri Jindal is a multi-billionaire who inherited ownership of her late husband's vast portfolio, which included steel holdings, energy and power interests, and thriving infrastructure companies.
Energy companies make money by selling energy products and services to consumers. They sell electricity, natural gas, oil, and other fuels.
They also generate revenue from building and operating infrastructures like power plants, pipelines, refineries, and storage terminals.
These companies may also earn income by providing their customers with clean energy technologies or market services. In some cases, they may be required to share a portion of their revenues with government authorities to maintain public safety or comply with environmental regulations.
Jindal owns and operates a wide variety of businesses in India with her four sons, contributing to an estimated net worth of around 17.4 billion dollars.
The Forbes Wealth report lists Savitri Jindal and her family as the 6th wealthiest family in India and at number 92 on the list of the world's richest billionaires.
Interests and Industries
- Jindal Group
- JSW Steel & Power
- Cement
- Energy
- Infrastructure
#8. – Kumar Mangalam Birla – Aditya Birla Group, Family and Generational Wealth
Kumar Mangalam Birla began building his wealth by becoming a skilled commodities investor. He then inherited additional wealth from the family-owned Aditya Birla Group as a fourth-generation owner in the early 1990s.
The family-owned investment group boasts a portfolio that includes telecommunications, financial services, and aluminum interests.
Birla’s resides in the bustling metropolis of Mumbai, India, as one of India’s top ten richest entrepreneurs.
A telecommunications company makes money through selling services, tariffs, and advertising. Services include telephone, broadband internet, satellite television, and voice-over IP (VoIP) services.
Tariffs are charges that telecommunications companies levy on their customers for using particular types of telecommunication equipment or facilities.
Local, city, state, and municipal tariffs can include charges for long-distance calls and data usage.
Advertising is a major source of income for many telecoms because it allows them to reach new customers more effectively.
Birla's current net worth is estimated at $15.5 billion.
Interests and Industries
- Aditya Birla Group
- Cement
- Idea Cellular
- Vodafone India
- Telecommunications
- Textiles
#9. – Dilip Shanghvi – Sun Group Family Business Dynasty
Dilip Shanghvi was the patriarch of one of India’s most influential business dynasties. He and his brother created the Sun Group in 1969, which increased into a diversified conglomerate interested in textiles, real estate, media holdings, pharmaceuticals, and food products.
Pharmaceutical companies make money by developing new medications and selling them to healthcare providers.
They research, find new ways to market their products and negotiate favorable contracts with health insurers. Additionally, they may generate revenue by selling generic versions of their medications.
The pharmaceutical industry is one of the most competitive in the world, and it constantly changes as new diagnostic tests are developed or old drugs become less effective.
This means that investors must be adaptable to remain profitable over time. Furthermore, drug prices can fluctuate greatly depending on supply and demand factors outside pharma company control.
Forbes magazine has ranked the group as one of India’s top five richest families.
According to Bloomberg Billionaires Index, Dilip Shanghvi ranks as India's 18th wealthiest person with an estimated net worth of 30 billion dollars.
Industries and Interests
- Sun Pharmaceutical
- Pharmaceuticals
#10. – Pallonji Mistry – S.P. Group, Eureka Forbes, Family Business
Pallonji Mistry was the head of the family which operates retail chains such as Eureka Forbes water purifier company and Shapoorji Pallonji Group.
Construction and engineering companies make money by charging for their services through fees for design or construction or through licensing and service agreements.
These companies may also generate revenue from consultation services or selling products related to construction or engineering.
Mistry amassed a multi-billion dollar fortune, earning him the ninth spot on India's Ten Richest list in 2021. His family empire is listed at #125 on the list of the world's richest billionaires.
Industries and Interests
- Construction
- Engineering
- Eureka Forbes
- Real Estate
- S.P. Group
- Shapoorji Pallonji Group
- Tata Sons
#11. – Azim Premji – Tech Industry Tycoon
Azim Premji is the founder, chairman, and chief executive officer (CEO) of Wipro Limited. He founded the company in 1974 after graduating from the Indian Institute of Technology Bombay with a Bachelor's degree in electrical engineering.
Over his three-decade-long career at Wipro, Premji has led it to become one of India’s most successful technology companies, and he is now ranked as India’s 19th richest person with an estimated net worth of USD 27 billion, according to Forbes magazine.
Industries and Interests
- Technology
- Software Services
#12. – Sunil Mittal – Telecommunications Conglomerate
Sunil Mittal earned his wealth by providing cell phone service to millions of telecommunications customers. Mittal operates Bharti Airtel and has an estimated net worth of just over $15 billion.
Bharti Airtel is a highly profitable telecommunications company in over 22 countries worldwide. Financial reports say Sunil Mittal has an estimated net worth of over $15 billion due to his ownership stake in Bharti Airtel and other profitable investments.
His financial interests and investment portfolio include a telecommunications company and bank ownership.
Banks make money by charging people for the products and services they provide.
This can include fees associated with borrowing money, interest rates on loans and investments, or charges for using debit cards or depositing your paycheck.
Banks receive government subsidies that help to offset some of the costs of providing these services.
Industries and Interests
- Bharti Airtel
- Airtel Payments Bank
- Google Investment Recipient
- Telecommunications
#13. – Hinduja Brothers – Diversified Family Wealth
The Hinduja Brothers are an Indian-born family of brothers operating a diversified investment portfolio based in Mumbai, India.
The four brothers own and operate vast real estate holdings and operate in many profitable sectors, including real estate, trucking, and lubricants.
Real estate holding companies make money by charging rent, collecting mortgage payments, and other expenses associated with their properties.
They also receive a cut of the sales price or profits generated from their investments.
REITs can benefit those who want exposure to different markets without worrying about managing them individually.
There are different real estate holding companies, including property management firms and REITs (real estate investment trusts).
Property management firms take care of the day-to-day operations of a property, while REITs invest in multiple assets across various markets to create stable returns for shareholders.
Family Members: Ashok Goichand, Prakash, Srichand
Citizenship: India
Current Residence: London, Monaco, Mumbai
Estimated Net Worth: USD 14.9 Billion
Industries and Interests
- Trucking
- Lubricants
- Real Estate
- Historic Buildings
- Hotels
#14. Bajaj Brothers – Motorcycle Manufacturing Group
The Bajaj Group is owned and operated by one of India's longest-running and wealthiest families. This group is well known for manufacturing motorcycles through its Bajaj Auto Group.
There are three brothers in the Bajaj family – Mudhur, Niraj, and Shekhar. This family dynasty has dominated India's industry for almost the past 100 years.
The Forbes list of the world's richest billionaires places the Bajaj Brothers at number 246, with a combined estimated net worth of $8.5 billion.
Industries and Interests
- Automotive
- Manufacturing
- Financial Services
#15. – Kushal Pal Singh – Real Estate Mogul
Kushal Pal Singh is an Indian-born real estate tycoon who became a billionaire by investing strategically in India.
Real estate investment Companies make money by charging investors a fee for their services. This fee can be based on the amount of money invested, the degree of risk involved, or a combination thereof.
Some real estate investment companies may also charge additional fees for particular services such as marketing and management.
Industries and Interests
- Real Estate
- Historic Buildings
- Hotels
