Hurun India and 360 ONE Wealth recently released the 360 ONE Wealth Hurun India Rich List 2023 which is an annual ranking of the wealthiest individuals in India.
The list is based on the net worth of individuals, which is calculated by taking into account their assets, such as publicly traded stocks, real estate, and private businesses, minus their liabilities, such as debt.
The list includes individuals who are residing or born and grew up in India. This is the 12th annual ranking of the richest individuals in India.
These wealth calculations according to the report are as of 30 August 2023.
Key Highlights:
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Mukesh Ambani has reclaimed the title of being the richest Indian according to the 2023 Hurun India Rich List. He has overtaken Gautam Adani and Family, who had been the richest Indians for the past year.
Ambani's wealth has grown from ₹3 lakh crore in 2019 to ₹8 lakh crore in 2023. This is due to the strong performance of Reliance Industries.
Mukesh Ambani was followed by Gautam Adani and Family with a wealth of ₹4 lakh crore. His wealth has decreased by 619,000 crore rupees. This is the biggest annual wealth decline ever recorded for an individual in India.
Even though the Hindenburg report said bad things about the Adani Group, the companies in the group have done well.
Their total income has increased by 85% to 262,499 crore rupees, and their profit after tax has increased by 82% to 23,509 crore rupees in the financial year 2022-23.
Here are the top 10 richest Indians according to the Hurun India report:
| Rank | Name | Wealth (in crores) | Change | Company |
| 1 | Mukesh Ambani and Family | 8,08,700 | 2% | Reliance Industries |
| 2 | Gautam Adani and Family | 4,74,800 | -57% | Adani |
| 3 | Cyrus S Poonawalla and Family | 2,78,500 | 36% | Serum Institute of India |
| 4 | Shiv Nadar and Family | 2,28,900 | 23% | HCL |
| 5 | Gopichand Hinduja and Family | 1,76,500 | 7% | Hinduja |
| 6 | Dilip Sanghvi | 1,64,300 | 23% | Sun Pharmaceutical Industries |
| 7 | LN Mittal and Family | 1,62,300 | 7% | ArcelorMittal |
| 8 | Radhakishan Damani and Family | 1,43,900 | -18% | Avenue Supermarts |
| 9 | Kumar Mangalam Birla and Family | 1,25,600 | 5% | Aditya Birla |
| 10 | Niraj Bajaj and Family | 1,20,700 | 7% | Bajaj Auto |
This report shows that the Indian economy is growing and changing quickly. The number of people with over 1,000 crore rupees has increased by 76% in the past five years, to 1,319.
The total wealth of these people is now 109 lakh crore rupees, which is more than the combined GDP of Singapore, UAE, and Saudi Arabia.
This is a piece of good news for the country, as more people will have the luxury to improve their lives.
Yatin Shah, Co-Founder, of 360 ONE & Joint CEO, of 360 ONE Wealth, said, “The release of the 360 ONE Wealth Hurun India Rich List 2023 is a testament to the remarkable growth and dynamism of India’s economy. With 1,319 individuals now possessing INR 1,000 Crore or more, we are witnessing a remarkable surge, up by 76% over the last five years.”
“The cumulative wealth of our listers has surged to INR 109 Lakh Crore, surpassing the combined GDP of Singapore, UAE, and Saudi Arabia. This year’s list highlights the immense entrepreneurial spirit of the country, with 64% being self-made. It’s a privilege for us at 360 ONE Wealth to partner with Hurun on this annual showcase of India’s wealthiest individuals, highlighting their contributions to the nation’s economic growth,” he adds.
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