IIFL Wealth Hurun India Rich List 2022 sees 149 new entrants

• The top 10 list of new additions was dominated by the billionaire Abhay Vakil family — co-founder of Asian Paints.
  
• Ashwin Desai and family of Aether Industries with a wealth of ₹11,700 crore came second in the list of people who made their debut on the list .
  
• The number of entrants to the list has increased by 60% in the past five years, said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.

As many as 149 people made their debut in IIFL Wealth Hurun India Rich List 2022, released today.

Three spots in the top 10 list of new additions were taken up by the Vakil family with holdings in Asian Paints. Nehal Abhay Vakil, with a net worth of ₹11,700 crore, tops the list, whereas, Vivek Abhay Vakil and Bhairavi Abhay Vakil were ranked fourth and seventh respectively.

Source: IIFL Wealth Hurun report

The second position was grabbed by Ashwin Desai & family of Aether Industries with a wealth of ₹11,700 crore, followed by Faizal Kottikollon of KEF Holdings with ₹9,500 crore.

Zepto founder, 19-year-old Kaivalya Vohra was named as the youngest in the additional list. He has a net worth of ₹1,000 crore and is ranked at 1036th in the list which had 1,103 people.

Alakh Pandey, popularly known as ‘Physics Wallah’, and its co-founder Prateek Boob also entered the list. Both are ranked at 399th position with a wealth of ₹4,000 crore as their startup Physics Wallah turned unicorn.

Source: Hurun report

The number of entrants to the list has increased by 60% in the past five years, said Anas Rahman Junaid, MD and chief researcher, Hurun India.

The chemicals & petrochemicals sector contributed the greatest number of new entrants with 20 new additions, followed by financial services (17) and software & services (12).

Junaid further added, “The new additions to IIFL Wealth Hurun India Rich List have occurred at a time when valuations are at a low, both in the listed and privately held companies. India is best positioned to capitalize on robust domestic demand, a stable political landscape, favourable demographics, and a sustainable external debt.”

The cumulative wealth of Indians in the rich list increased by 9.4%, while average wealth has decreased by 1%. As many as 602 individuals saw their wealth increase or stay the same in the past one year.

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