Mukesh Ambani tops the Barclays Hurun India Rich List 2018
for the 7th year in a row
· 831 Indians having a net worth of INR 1,000 crore+ feature in the 2018 edition of the list
· India adds 214 individuals to INR 1,000 crore+ club in 2018
· Mumbai tops the list with 233 names, followed by New Delhi at 163 and Bengaluru at 70
Mumbai, 25th September 2018: Hurun Report India and Barclays today unveiled the 2018 edition of ‘Barclays Hurun India Rich List 2018’ - a compilation of the richest individuals in India having a net worth of INR 1,000 crore or more. The number of individuals featured in the 2018 edition has increased by a third to 831 from 617 in 2017. Mukesh Ambani, Chairman, Reliance Group of Companies topped the List for the seventh consecutive year with total net worth of INR 371,000 crore. The List was compiled on the basis of net worth of living Indians as on 31st July, 2018 when the rate of exchange to the US Dollar stood at INR 68.51. The list relates to Indians only, defined as born or brought up in India.
The cumulative wealth of the 831 individuals featured in the List stood at USD 719 billion - amounting to a quarter of Indian GDP of USD 2,848 billion (as per IMF estimate on 1st April 2018). 306 new entrants were added to the List in the 2018 edition while 75 of those featured in 2017, didn’t make it to the present edition. Individuals having a net worth of INR 9,000 crore and more were featured in the top 100 rankings. Mumbai emerged as the hub of the rich and famous – with 233 names hailing from the city; while New Delhi and Bengaluru accounted for 163 and 70 names respectively.
Commenting on the unveiling of the Barclays Hurun India Rich List 2018, Anas Rahman Junaid, MD and Chief Researcher, Hurun Report India, said “Amidst the huge political debate around India’s current economic scenario, Barclays Hurun India Rich List 2018 depicts that Indian businesses are booming. In fact, the number of INR 1,000 crore+ wealthy Indians have nearly doubled in the past two years – from 339 in 2016 edition to 831 presently. Interestingly, the India edition of the Rich List is the fastest growing rich list in the world – highlighting the optimism of a young, vibrant and ambitious country”.
Speaking at the launch, Satya Narayan Bansal, CEO Barclays Private Clients, said “Wealth creation in India is growing at an unprecedented pace, and the time it takes to accumulate wealth is shorter than ever before."
“We are seeing the rise of a New India, characterized by younger millionaires, innovative businesses and new business models. A number of the new entrants and top gainers on the list are first generation entrepreneurs. This is a great testament to the improved business opportunities and entrepreneurial acumen in the country. We see a new class of serial entrepreneurs slowly emerging as they encash their current businesses and look for next generation businesses. There is increasing awareness for social impact businesses and philanthropy, although we have a lot more ground to cover here,” Satya added.
Key Highlights from Barclays Hurun India Rich List 2018
· Average age of the Barclays Hurun India Rich List is 60
· With wealth increase of 430%, Krishna Kumar Bangur of Graphite India is the biggest gainer
· Number of women in the list increased by 157% (136 entries) this year
· A total of 141 billionaires in USD terms, a record number since the inception of Hurun Rich List in 2012. The inaugural Barclays Hurun India Rich List in 2012 had 59 billionaires
· 9 individuals saw their wealth double year on year, while 168 individuals witnessed a decline in their wealth
· Pharmaceuticals dominate with 13.7% of the list, followed by Software & Services and FMCG with 7.9% and 6.4% respectively
· 66 in the list under the age of 40; 49 in the under 40 inherited their wealth
· “The Richest Horoscopes” - Those born in Cancer, Virgo and Aries produced most number of individuals in the rich list and Sagittarius the least!!!
GROWTH OF INDIVIDUALS IN BARCLAYS HURUN INDIA RICH LIST SINCE THE INCEPTION OF LIST IN 2012
GROWTH IN NUMBER OF USD BILLIONAIRES FROM INDIA SINCE 2012 AND THE EXCHANGE RATES AT THE TIME OF COMPILATION OF THE LISTS
GROWTH OF VARIOUS WEALTH THRESHOLDS IN BARCLAYS HURUN INDIA RICH LIST DURING LAST 5 YEARS (ALL FIGURES IN INR CRORE)
NUMBER OF CITIES OF RESIDENCE OF ENTREPRENEURS IN BARCLAYS HURUN INDIA RICH LIST 2018 HAS GROWN BY MORE THAN 5 TIMES SINCE INCEPTION
TOP 5 SECTORS THAT CONTRIBUTED THE MOST NUMBER OF NEW ENTRANTS IN BARCLAYS HURUN INDIA RICH LIST 2018
TOP 5 SECTORS CONTRIBUTING THE MOST NUMBER OF SELF-MADE ENTREPRENEURS IN BARCLAYS HURUN INDIA RICH LIST 2018
REPRESENTATION OF WOMEN IN THE LIST HAS INCREASED BY MORE THAN 25 TIMES SINCE 2013!
COMPARISON BETWEEN TOP 5 WEALTH CREATING SECTORS IN 2018 AND 2013 HURUN INDIA RICH LISTS
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About Hurun Report
Hurun Report is a leading luxury publishing and events group established in London in 1998 with a strong presence in China and India. It is widely recognized world-over for its comprehensive evaluation of the wealthiest individuals across the globe. Hurun Report is the largest compiler of the rich list globally.
Hurun Report Inc. has four divisions: Hurun Report Media, a stable of digital media and four magazines; Hurun Research Institute; Hurun Conferences, an active events division targeting entrepreneurs and high net worth individuals; and Hurun Investments, a US$20m early stage venture capital fund with investments into tech, media, retail and education.
About Hurun Report India
“Passionate About Indian Entrepreneurship”
Hurun Report India commenced operations in 2012 and has been bringing to light stories of successful and emerging Indian entrepreneurs ever since, felicitating them at a bouquet of Hurun events hosted pan-India.
Hurun Report India serves as India’s definitive voice celebrating wealth creation, innovation and growth. Last year, Hurun further expanded its repertoire by releasing the Hurun Global Rich List 2017, a ranking of the 2,694 US dollar billionaires, so-called ‘Nine-Zero Club’, currently in the world and the seventh India Rich List which ranks the 831 richest individuals in India, allowing for comparisons between some of the most dynamic economies in the world. The purpose of this list is to try and tell the story of modern India through the eyes of an entrepreneur. For the full details, please refer to on www.hurunindia.net
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