Gautam Adani Topples Mukesh Ambani to Become the Richest Indian As Per the 2024 Hurun India Rich List
First Published: 29th August, 2024 20:38 IST
Ambani, with a wealth of Rs 10.14 lakh crore, secured the second position on the list. The wealth calculations presented are based on the snapshot taken on July 31, 2024
Gautam Adani and his family have surpassed Mukesh Ambani to secure the top spot in the 2024 Hurun India Rich List, with a wealth of Rs 11.6 lakh crore. In 2020, Adani was fourth on the list. Adani’s wealth has surged by 95 per cent in the last one year.
“Rising like a phoenix after the Hindenburg allegations, Gautam Adani (62) & family have secured the top spot in this year’s rankings, with a 95% increase in wealth compared to last year, bringing their total to INR 1,161,800 Cr. As a self-made entrepreneur, Adani has recorded the highest wealth growth within the top 10 over the past five years, adding INR 1,021,600 Cr, despite the challenges following the report,” the Hurun Rich List says.
“All Adani Group companies saw a significant surge in share prices over the past year. For example, Adani Ports experienced a 98% increase, driven by improved utilization levels and the proposed acquisition of new ports and container terminals. Meanwhile, the energy-focused companies-Adani Energy, Adani Gas, Adani Transmission, and Adani Power-averaged a 76% growth in share price. Additionally, MSCI’s decision to lift restrictions on Adani Group securities in its August 2024 review indicates a return to normal operations, reflecting a stabilizing outlook for key stocks like Adani Enterprises, Adani Ports, and Ambuja Cements. This year, Hurun has attributed the wealth of the family trust and international companies within the promoter group to Gautam Adani and his family,” the report adds.
Ambani, with a wealth of Rs 10.14 lakh crore, secured the second position on the list. The wealth calculations presented are based on the snapshot taken on July 31, 2024, an NDTV report quoting the Hurun Rich List.
The report highlights that the number of billionaires in the country has reached a record 334, The Times of India reported.
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