New Delhi, Srichand Parmanand Hinduja, the eldest of the four <keyword id="333308" type="General" weightage="20" keywordseo="hinduja-brothers" source="Orion">Hinduja brothers</keyword> and chairman of the Hinduja Group, passed away in London on Wednesday. The <keyword id="840924" type="General" weightage="20" keywordseo="hinduja-family" source="Orion">Hinduja family</keyword> patriarch and his brothers, Gopichand and Prakash, were accused of receiving nearly Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract. A court had however exonerated them. "Gopichand, Prakash, Ashok and the whole Hinduja family with a heavy heart regret to announce the passing away of our family patriarch, and chairman of Hinduja Group, Mr <keyword id="567842" type="General" weightage="20" keywordseo="s-p-hinduja" source="Orion">S P Hinduja</keyword> today," a spokesperson for the family said. A British national, he died in London after a prolonged illness. He was 87, a family spokesperson said. The Hinduja brothers were exonerated in 2005 due to a lack of evidence. The brothers who have been intensely secretive about the size of their wealth, have been sparring in British courts over control of family assets. "Gopichand, Prakash, Ashok, and the whole Hinduja family with a heavy heart regret to announce the passing away of our family patriarch, and Chairman of the Hinduja Group, Mr. S P Hinduja today," the family spokesperson said in a statement. It described him as a "visionary and mentor to the family bestowing the founding principles and values of our late father, PD Hinduja. "He played a very important role alongside his brothers in building a strong relationship between his host country, the UK, and his home country, India," it said. "A titan amongst his peers, S P Hinduja truly lived and embodied the Hinduja Group's founding principles and values. A deeply spiritual and philanthropic person, he was courageous in action and generous at heart. His loss has left a huge void as the brothers have always been four bodies and one soul, the statement said. "The Hinduja family is in grief and sorrow at his demise. Our prayers to the Almighty to grant his soul eternal place at His Lotus Feet."

S P Hinduja, eldest of Hinduja brothers, passes away

British Prime Minister <keyword id="221875" type="General" weightage="80" keywordseo="Rishi-Sunak" source="Orion">Rishi Sunak</keyword> and his wife Akshata Murty have made their debut on the UK's '<keyword id="596197" type="General" weightage="80" keywordseo="Asian-Rich-list" source="Orion">Asian Rich List</keyword> 2022' topped by the <keyword id="840924" type="General" weightage="90" keywordseo="Hinduja-family" source="Orion">Hinduja family</keyword>. Sunak and his wife, whose father N R Narayana Murthy co-founded Indian IT major <keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="infosys" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="infosys" meta.entityname="Infosys Ltd." meta.entityid="10960" meta.seoname="infosys-ltd">Infosys</keyword>, are ranked 17th on the list, with an estimated wealth of 790 million pounds. The combined wealth of this year's list sits at 113.2 billion pounds, an increase of 13.5 billion pounds over that of last year. The list is topped by the <keyword id="28125" type="DOMAIN" weightage="20" keywordseo="hinduja" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="hinduja" meta.entityname="Nxtdigital Ltd." meta.entityid="5318" meta.seoname="nxtdigital-ltd">Hinduja</keyword> family for the eighth consecutive time with an estimated wealth of 30.5 billion pounds, an increase of 3 billion pounds from the last year. Mayor of London Sadiq Khan presented a copy of the 'Asian Rich List 2022' to Ritu Chhabria, daughter of Gopichand Hinduja, Co-Chairman of the <keyword id="120582" type="General" weightage="100" keywordseo="hinduja-group" source="Orion">Hinduja Group</keyword> at the 24th annual Asian Business Awards at the Westminster Park Plaza hotel on Wednesday night. Hinduja Group is an Indian transnational conglomerate. The group is present in eleven sectors. Addressing the gathering, Chief Guest Oliver <keyword id="14278602" type="General" weightage="80" keywordseo="dowden" source="Orion">Dowden</keyword>, MP, Chancellor of Dutchy of Lancaster, said: "every year, we see the British Asian Community continue to grow in stature which comes as no surprise to me personally." "Throughout my life, I have seen first-hand the hard work, determination and entrepreneurship of the British Asian community. And, of course, in my latest job, I have a British Asian Boss, my very good friend Mr Rishi Sunak, the United Kingdom's first-ever British Asian Prime Minister," Dowden said. Sunak made an impressive comeback to become the UK's first Indian-origin Prime Minister on October 25, seven weeks after he had lost the race for 10 Downing Street to Liz Truss. The 42-year-old investment banker-turned-politician is the youngest British Prime Minister in 210 years and also the UK's first Hindu Prime Minister. "I want to say thank you. The British Asian business community is widely recognised as one of the most successful entrepreneurial groups ever. It is a remarkable story of building businesses creating jobs and amassing wealth. And as outlined in this year's Asian Rich List, Asian entrepreneurs have enriched Britain in all aspects of our national life," Dowden said. This year's Asian Rich list boasts 16 billionaires from the UK, one more than the last year with most of the billionaires seeing their wealth increase or stay the same as last year. Sri <keyword id="1834928" type="General" weightage="50" keywordseo="prakash-lohia" source="Orion">Prakash Lohia</keyword> and his family have seen the biggest increase in wealth on this year's list, a rise of 4 billion pounds to 8.8 billion pounds. Lakshmi Mittal and his son Aditya (12.8 billion pounds) and Prakash Lohia and family (8.8 billion pounds) and Nirmal Sethia (6.5 billion pounds) are other richest on the list. Shailesh R Solanki, the Executive Editor of Asian Marketing Group (AMG) and the host of the event, said: "The Asian Rich list is carefully compiled by a team of experts and it is the definitive guide to Asian wealth in Britain." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/radiation-emitted-from-mobile-towers-has-no-ill-effects-on-human-health-experts/articleshow/95743681.cms">Radiation emitted from mobile towers has no ill effects on human health: Experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/germany-relaxes-schengen-visa-rules-for-indians/articleshow/95757566.cms">Germany relaxes Schengen visa rules for Indians</a>

UK's Asian Rich list: Hinduja family retain top spot, UK PM Sunak, his wife make debut

<ul><li><keyword id="6358200" type="ORGANIZATION" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> had caught the attention of Srichand and <keyword id="375933" type="PERSON" weightage="20" keywordseo="Gopichand-Hinduja">Gopichand Hinduja</keyword>, who are worth $16 billion. </li><li>Jet may not be the biggest bet Hindujas ever made. Their first major acquisition was Ashok Leyland in 1987. </li><li>The Hindujas are one of the wealthiest families in the UK</li></ul> Last week, Jet Airways stock suddenly jumped 6.9%, even as the airline was grounded for seven months. The stock started buzzing after Indian-born Hinduja brothers, who run the London-based group worth $50 billion, <a href="https://economictimes.indiatimes.com/markets/stocks/news/share-market-update-aviation-stocks-fly-jet-airways-climbs-5/articleshow/73056864.cms">are showing interest, yet again</a>. In May 2019, <a href="https://www.businessinsider.in/jet-airways-could-avoid-nclat-with-bid-from-hinduja-brothers/articleshow/69422808.cms">Hindujas emerged as prominent bidder </a>for the airline but the deal fell apart. Months later, they said that they want to bid only if they were protected from legal liabilities. It is safe to say that Jet Airways has caught the attention of Srichand and Gopichand Hinduja, <a href="https://www.businessinsider.in/jet-airways-could-avoid-nclat-with-bid-from-hinduja-brothers/articleshow/69422808.cms">who are worth $16 billion</a>. <div type="Slideshow" msid="73068512" hostid="261" title="The billionaires who want to fly Jet Airways are also the world's largest bus manufacturers" firstImageMsid="73068593" slideCount="3"></div>

The billionaires who want to fly Jet Airways are also the world's largest bus manufacturers

<ul><li>The top <keyword id="8153180" type="UNKNOWN" weightage="20" keywordseo="5-richest-families-in-India">5 richest families in India</keyword> hold a combined wealth of ₹9,22,600 crore crore. </li><li>The list includes Ambani who have ₹3,80,700 crore, Godrejs who have ₹1,57,000 crore and Hindujas who control ₹1,86,500 crore; occupy the top three positions. </li><li>According to the Hurun Research Institute, the top 10 <keyword id="6908858" type="UNKNOWN" weightage="20" keywordseo="richest-families-in-india">richest families in India</keyword> control more than half the country's businesses. </li></ul>The top ten richest families in India have a combined wealth of a massive ₹9,22,600 crore. And, they are not shy of showing it. According to Hurun Research Institute, the top 10 richest families in India control more than half the country's businesses. From the Ambani's family whose ₹3,80,700 crore comes from Reliance Industries; to Wadias who control a textiles-to-airlines group, here's a rundown of 10 wealthiest families in India. <keyword id="881409" type="PERSON" weightage="20" keywordseo="Ambani-family">Ambani Family</keyword> and their splendid lifestyle <div type="image" title="Mumbai: Industrialist Mukesh Ambani and wife Nita Ambani at the book launch of t..." msid="71323910" hostid="261" caption="Industrialist Mukesh Ambani and wife Nita Ambani at the book launch of the book &amp;#39;A Journey Forever&amp;#39; Authored Vijay Haribhakti (3rd from L) in Mumbai.Photo/Mitesh Bhuvad)("></div>
NetWorth: ₹3,80,700 crore Source of Income: Reliance Industries 
 Mukesh Ambani, his wife Nita, and their three children – Akash, Isha, Anant – make up India's richest family, whose wealth is at ₹3,80,700 crore. The whole country is in awe of them not just because of the wealth, but their glimmering lifestyle. The twins Akash and Isha’s weddings captured national and international attention. Not only did all of Bollywood dance to it, international popstar Beyonce's too performed at one of the functions. 
 <div type="image" title="f45f6e4737b8a785c52178517959b8ea" msid="71324114" hostid="261"></div>

 The Ambanis also reside at one of the world's most expensive homes Antilia — the 27-storey skyscraper in Mumbai that allegedly costs a billion dollars. Mukesh Ambani, chairman of Reliance Industries, was named richest person in India in the Hurun rich list for the 8th time in a row. His wealth is more than the combined wealth of country’s second and third richest who are --SP Hinduja family and Azim Premji, respectively. The <keyword id="2349569" type="PERSON" weightage="20" keywordseo="Godrej-family">Godrej family</keyword> is made of old money and new <div type="image" title="a33b9cac8ff8e00ea7d73291ba4100cd" msid="71324115" hostid="261"></div>
Networth: ₹1,57,000 crore Source of Income: Godrej Group The Mumbai-based Godrej family built its fortune from multiple businesses with interests across consumer goods, real estate, white goods and more. The patriarch of the family is Adi Godrej, the 77-year-old Indian billionaire with a net worth of US$2.9 billion. The 122-year-old conglomerate r<a href="https://www.livemint.com/companies/news/godrej-family-locked-in-a-dispute-over-land-seeks-external-advice-1561659296389.html">ecently ran into disputes over a vast land they hold in Mumbai</a>. The family sought external help to resolve the dispute. The Hindujas 
 <div type="image" title="Capture1" tempid="18690" msid="71324281" hostid="261"></div>

 Networth: ₹1,86,500 crore Source of Income: The <keyword id="120582" type="COMPANY" weightage="20" keywordseo="Hinduja-Group">Hinduja Group</keyword> The Hinduja family has four siblings — Srichand, Gopichand, Prakash and Ashok. They run London-based conglomerate, the Hinduja group, which generates an annual revenue of $50 billion. P D Hinduja founded a merchant bank and trading company in 1914. Now, its trading operations are spread across every commodity except tobacco, alcohol and meat. It also expanded to many sectors including energy, foundries and more. The group is the fourth largest bus manufacturer in the world. In two decades, the Hinduja brothers increased their networth by 1,590%, from $1 billion in 1999 to $16.9 billion in 2019, <a href="https://www.forbes.com/profile/hinduja/#62a154084482">according to Forbes. </a> The Hinduja brothers are also one of the wealthiest in the UK. <a href="https://www.google.com/search?hl=en&amp;ei=QouNXZnaI4y89QOPxLGQDw&amp;q=Hidujas+asian+rich+list&amp;oq=Hidujas+asian+rich+list&amp;gs_l=psy-ab.3..33i21j33i160l2.87196.89511..89548...0.2..1.418.1880.2-2j3j1......0....1..gws-wiz.......0i71.58yxa5aXmYM&amp;ved=0ahUKEwiZg8PRkPDkAhUMXn0KHQ9iDPIQ4dUDCAs&amp;uact=5">The family’s net worth saw an increase of over three billion pounds in one year</a>, reported the Asian Rich List that positioned the family number one. They live in august company as their Carlton House Terrace mansion is close to Buckingham Palace in London. Adanis are in shipshape 
 <div type="image" title="18500316" tempid="18714" msid="71324282" hostid="261"></div>

 Networth: ₹120,900 crore Source of Income: The Adani Group Adanis family consists of billionaire <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, his seven siblings and their families, is probably the largest family in the list. Their fortune is worth ₹120,900 crore, and the group owns India’s largest private port in Gujarat. The Adani group interests span across logistics, energy, agriculture, defense, and aerospace. In 25 years, Adani built one of India's largest infrastructure companies worth ₹4,700 crore. Adani group’s six companies — had a turnover ₹77,000 crore with ₹20,141 crore as operating profit in 2017-18. The Damanis of Dalal Street 
 <div type="image" title="Capture2" msid="71324340" hostid="261"></div>

 Networth: ₹77,500 crore Famous investor Radhakishan Damani along with his wife, daughter and brother form the country’s fifth richest family. They own the popular retail store D-Mart, is the primary source of the family’s vast income. Damani is a famous investor whose wealth doubled after a stellar listing of the retail chain on the stock exchanges in 2017. His daughter Manjri Chandak is a director at D-Mart. Radhakishan Damani who is often called the ‘Warren Buffet of India’, was also a mentor to ace investor, <keyword id="6398943" type="PERSON" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>. The family has holdings in VST Industries, Sundaram Finance, India Cements, and Blue Dart. The family also owns the Radisson Blu resort at Alibaug, near Mumbai.

Here are the 5 richest families in India — who together hold a fortune of ₹9,22,600 crore

<ul><li>The cash-strapped airline’s creditors, led by SBI, have reportedly secured the interest of Srichand and <keyword id="375933" type="PERSON" weightage="20" keywordseo="Gopichand-Hinduja">Gopichand Hinduja</keyword>, who together constitute one of the richest families in the UK with a £22 billion fortune. </li><li>The <keyword id="120582" type="COMPANY" weightage="20" keywordseo="Hinduja-Group">Hinduja Group</keyword> will commence the process of due diligence in the airline after obtaining the approval of Jet’s promoters <keyword id="122732" type="PERSON" weightage="20" keywordseo="Naresh-Goyal">Naresh Goyal</keyword> and Etihad to do so. </li><li>The news comes a week after Etihad said it wanted to limit its participation in Jet’s turnaround. The UAE-based airline submitted a conditional bid that stipulated it’s desire to be a minority investor.</li></ul> It seems that Jet’s creditors are counting on a last-minute bid to prevent the airline from going under. The cash-strapped airline’s creditors, led by State Bank of India (SBI), have reportedly secured the interest of Srichand and Gopichand Hinduja, who together constitute <a href="https://www.theguardian.com/business/2019/may/11/hindujas-sunday-times-annual-rich-list-top-spot">one of the richest families</a> in the United Kingdom with a £22 billion fortune. Sources told <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/hindujas-get-backing-of-etihad-naresh-goyal-to-board-jet-airways/articleshow/69420459.cms?from=mdr">ET</a> that the Hinduja Group will commence the process of due diligence in the airline after obtaining the approval of Jet’s promoters Naresh Goyal and Etihad to do so. The group will reportedly work on SBI’s investment banking arm on assessing Jet’s finances. The deal will be costly, however. The sources added that the Hinduja brothers would likely require Jet’s creditors to take a significant discount on their outstanding loans of ₹120 billion. As things stand, the Hinduja brothers are reportedly set <a href="https://www.business-standard.com/article/companies/jet-airways-revival-etihad-hindujas-set-for-abu-dhabi-meet-on-may-23-119052100035_1.html">to meet with representatives</a> from Etihad and SBI in Dubai on May 23rd. The news comes a week after Etihad said it wanted to limit its participation in Jet’s turnaround. The UAE-based airline <a href="https://www.businessinsider.in/etihad-submits-conditional-offer-for-jet-wants-a-majority-partner-to-come-aboard/articleshow/69302138.cms">submitted a conditional bid </a>that stipulated it’s desire to be a minority investor. Etihad said that it would invest a maximum amount of ₹17 billion in the airline to retain its minority stake - 11% of the estimated ₹150 billion needed to kickstart the airline’s revival. This investment is contingent on a capital infusion from the banks. Bidding for a majority stake of as much as 75% in <keyword id="6358200" type="COMPANY" weightage="20" keywordseo="jet-airways">Jet Airways</keyword> ended two weeks ago, and the airline’s creditors <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/jet-airways-lenders-and-etihad-keen-to-issue-boarding-pass-to-hindujas/articleshow/69334306.cms">received only one bid</a> from the entities that it had shortlisted - <keyword id="140808" type="COMPANY" weightage="20" keywordseo="Etihad-airways">Etihad Airways</keyword>. Jet’s creditors have taken a majority stake in the airline and are selling their equity holding to recover their dues. In the event that a mutually beneficial deal isn’t agreed upon and a stake sale doesn’t take place, Jet’s creditors will have no choice but to refer the airline to <keyword id="43550" type="EVENT" weightage="20" keywordseo="Bankruptcy">bankruptcy</keyword> court. SEE ALSO: <a href="https://www.businessinsider.in/etihad-submits-conditional-offer-for-jet-wants-a-majority-partner-to-come-aboard/articleshow/69302138.cms">Jet’s partner Etihad submits a conditional bid for the cash-strapped airline — and wants to remain a minority owner</a> <a href="https://www.businessinsider.in/jet-airways-and-six-more-global-airlines-either-shut-shop-or-merged-says-care-ratings/articleshow/69352600.cms">Jet Airways isn’t the only one, 6 more global airlines have vanished</a>

One of the richest Indian families has its eye on Jet Airways

<ul><li>The 27 year old Hinduja Bank is one of the three major financial institutions, owned by the conglomerate, aside from <keyword id="46717" type="COMPANY" weightage="20" keywordseo="IndusInd-Bank">IndusInd Bank</keyword> and Hinduja Leyland Finance. </li><li>The <keyword id="57519" type="COUNTRY" weightage="20" keywordseo="Cayman-Islands">Cayman Islands</keyword> order, from May 2020, said that the bank even failed to maintain the minimum <keyword id="6360278" type="DEFINITION" weightage="20" keywordseo="Net-Worth">net worth</keyword> of 400,000 Cayman dollars and hasn’t submitted its audited financial statements since 2018. </li><li>The Cayman Islands is popular as a tax haven for the world’s super rich and many multinational corporations.</li></ul>The stock of IndusInd Bank took a beating after a report that the group had lost its banking licence in Cayman Islands for not taking steps to stop money laundering. However, the report was based on an order from May 2020. The shares of IndusInd Bank fell as much as 6%, on June 3, 2021, as investors got spooked but recovered a part of those losses soon after. The Cayman Islands, popular as a tax haven for the world’s super rich, had stripped the <keyword id="120582" type="COMPANY" weightage="20" keywordseo="Hinduja-Group">Hinduja Group</keyword> of its banking licence for the conglomerate’s Geneva-based bank. The Hinduja Bank is one of the three major financial institutions owned by the conglomerate ⁠— the other two being IndusInd Bank and Hinduja Leyland Finance. In an order dated May 27, 2020, the Cayman Islands Monetary Authority, also said that the company “failed to prepare adequate” anti-money laundering policies. The director, Gilbert Pfaeffli, has been held ‘not fit and proper’ for the position. Hinduja Bank was established in 1994 as a Swiss Banking Institution. The group website says it offers, among other services, “innovative solutions in wealth management and private banking, trade finance, corporate advisory services and global investment solutions.” The bank has presence in Dubai, London, Paris, New York, Chennai, Mumbai, Mauritius and Cayman Islands. The Cayman Islands order said that the bank even failed to maintain the minimum net worth of 400,000 Cayman dollars and hasn’t submitted its audited financial statements since 2018. A Cayman dollar is approximately ₹88, at current prices. The more than a century old Hinduja Group led by Chairman Srichand Hinduja ⁠— with a net worth of over $15 billion shared with his brothers, Gopichand, Prakash and Ashok Hinduja ⁠— has international interests in a variety of industries from technology to finance, from media to oil and chemicals, and from real estate to healthcare. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/the-indian-government-is-doling-out-1500-crore-to-reserve-300-million-of-biological-es-covid-19-vaccine-doses/articleshow/83196362.cms">The Indian government is doling out ₹1500 crore to reserve 300 million of Biological-E’s COVID-19 vaccine doses</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indians-must-brace-for-a-further-rise-in-petrol-and-diesel-prices-as-crude-oil-scales-a-2-year-high/articleshow/83195870.cms">Indians must brace for a further rise in petrol and diesel prices as crude oil scales a 2-year high</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/top-five-fintech-ideas-that-are-drawing-the-most-amount-of-money/slidelist/83194276.cms">Five fintech ideas that are raking in the most amount of money</a>

IndusInd Bank shares slide as a year-old Cayman Islands order against Hinduja Bank resurfaces

<ul><li>The <keyword id="120582" type="CITY" weightage="20" keywordseo="Hinduja-Group">Hinduja Group</keyword>, along with New York-based Cerberus Capital Management LP may bid for a stake in the troubled <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword>. </li><li>The cash starved Yes Bank has been attempting to raise funds over the last year but has failed to do so.</li><li>The stock of Yes Bank has already lost over 80% of its value in the last one year.</li></ul>The <keyword id="28125" type="PERSON" weightage="20" keywordseo="hinduja">Hinduja</keyword> Group, along with New York-based Cerberus Capital Management LP may bid for a stake in the troubled Yes Bank. Officials from the two potential suitors have already consulted the Reserve Bank of India, according to a <a href="https://www.bloombergquint.com/business/hindujas-cerberus-are-said-to-partner-to-bid-for-yes-bank-stake-k6ujlljl">Bloomberg report</a>. The <a href="https://www.businessinsider.in/stock-market/news/yes-bank-news-and-share-price-under-ceo-ravneet-gill/articleshow/71884080.cms">cash starved Yes Bank</a> has been attempting to raise funds over the last year but has failed to do so. Earlier, Yes Bank had reported that it has received non binding expressions of interest from JC Flowers, Tilden Park, OHA and Silver Point. "Valuation has to be much lower than the current market price, we are not keen at this price, it does not correctly reflect the asset quality concerns," an investor told <a href="https://www.cnbctv18.com/finance/hinduja-group-cerberus-in-race-to-invest-in-yes-bank-investors-seek-a-lower-price-5340051.htm">CNBC TV18.</a> The stock of Yes Bank has already lost over 80% of its value in the last one year. 
 <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[
<div class="flourish-embed flourish-chart" data-src="visualisation/1423428"><script src="https://public.flourish.studio/resources/embed.js"></script></div>
]]></cdata></div>



 YES Bank has also delayed its Q3 earnings report till March, amidst rumours of it getting new investments. Earlier in <a href="https://www.businessinsider.in/business/news/yes-bank-appoints-anshu-jain-headed-cantor-fitzgerald-2-domestic-entities-for-fundraising-plans/articleshow/73967473.cms">February,</a> Yes Bank had appointed Cantor Fitzgerald, headed by Anshu Jain, for its fundraising plans. <div type="image" title="Anshu Jain" msid="74226865" hostid="261" caption="&amp;lt;p&amp;gt;Anshu Jain, president of Cantor Fitzgerald&amp;lt;/p&amp;gt;"></div>

 The <a href="https://www.businessinsider.in/thelife/personalities/news/jet-airways-had-caught-the-attention-of-srichand-and-gopichand-hinduja-who-are-worth-16-billion/articleshow/73068506.cms">Hinduja Group</a> already owns a stake in Induslnd Bank. The London-based conglomerate and the brothers behind it – Srichand, Gopichand, Prakash and Ashok – are worth $15.7 billion according to <a href="https://www.forbes.com/profile/hinduja/#7dee57164482">Forbes.</a> According to reports, the Hinduja Group was also looking at bidding for the bankrupt airline Jet Airways. <div type="image" title="Gopichand Hinduja" msid="74226921" hostid="261" caption="&amp;lt;p&amp;gt;Gopichand Hinduja&amp;lt;/p&amp;gt;"></div>

 Cerebrus Capital Management is an invetor in distressed assets and its portfolio is worth over $50 billion. However, in India, it is less than a year old. It is led by former Lehman Brothers executive, Indranil Ghosh, an investment banker who has cut his teeth at ICICI Bank and later went on to manage the India portfolio for Citigroup Venture Capital International. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/yes-bank-news-and-share-price-under-ceo-ravneet-gill/articleshow/71884080.cms">Yes Bank under CEO Ravneet Gill⁠— eight months of wild mood swings</a> <a href="https://www.businessinsider.in/thelife/personalities/news/jet-airways-had-caught-the-attention-of-srichand-and-gopichand-hinduja-who-are-worth-16-billion/articleshow/73068506.cms">The billionaires who want to fly Jet Airways are also the world's largest bus manufacturers</a>

Bid for Yes Bank: The $15 billion Hinduja Group and a New York-based investor reportedly join hands

New Delhi, Jun 25 () A USD 11 billion business empire spread over 38 countries that includes banks, India's second-largest truck maker and lubricant making firms is at the heart of a legal dispute in the Hinduja family that is now playing out in a London court. Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016. Hinduja Group has presence in auto, financial services, IT, media, infrastructure, energy and chemicals and healthcare sectors. Differences among the brothers, who shot into prominence in the 1980s when they were accused of taking a commission from Swedish firm Bofors to secure a defence contract of procuring heavy artillery for India, cropped up over control of a bank the group has in Switzerland. The four brothers have been inseparable, putting up joint appearances in the Bofors case investigation and court hearings. However, the charges against them could not be proven in court. Gopichand, Prakash and Ashok tried to use the 2014 letter to take control of Hinduja Bank -- an asset that was in Srichand's sole name, resulting in the legal battle. Vinoo and Srichand Hinduja now want the court to agree that the document has no legal standing and can be revoked. Hinduja Bank has Shanu Hinduja, the other daughter of Srichand, as chairperson, and her son Karam was appointed CEO just last week. It was not immediately known if the 2014 document, which is at the centre of the dispute, is an informal agreement, a will or the basis of a family constitution. Ashok Leyland, India's second largest truck and bus manufacturer, is the flagship firm of the Hinduja Group. Lubricant maker Gulf Oil Lubricants India Ltd is the other listed firm of the group, while Hindujas hold 14.34 per cent in IndusInd Bank Ltd that has a market-cap of over Rs 33,000 crore. According to the company website, Hinduja Group was started by Parmanand Deepchand Hinduja with an office in Iran. "Merchant Banking and Trade were the twin pillars of the Group's business. The Group remained headquartered in Iran till 1979. It then moved to Europe," it said. The group also has a BPO, the Bengaluru-headquartered Hinduja global Solutions (HGS). It had through Gulf Oil Corp Ltd acquired lube and industrial oil maker Houghton International in December 2012. Besides IndusInd Bank, the group in 1994 set up Hinduja Bank (Switzerland) Ltd. Making its foray into the power sector, Hinduja National Power Corp Ltd set up a 1,040 MW coal-based merchant power plant at Visakhapatnam in Andhra Pradesh. The group's NXTDigital offers cable and DTH services. Hinduja Realty Ventures (HRVL) is flagship real estate development arm of the Hinduja group which also runs a hospital in Mumbai. Eldest of the four brothers, Srichand is the chairman of the Hinduja Group, Hinduja Bank of Switzerland and Hinduja Foundations. He has two daughters -- Shanu and Vinoo. Gopichand, 79, is the co-chairman of Hinduja Group and chairman of Hinduja Automotive Ltd, UK, while Prakash, 75, is the chairman of Hinduja Group (Europe). Gopichand has two sons, Sanjay and Dheeraj and a daughter, Rita. Prakash has two sons, Ajay and Ramkrishan, and a daughter Renuka. Youngest of the siblings, Ashok, 69, is the chairman of Hinduja Group of Companies (India). He has two daughters, Ambika and Satya, and one son, Shom. Ashok Leyland, Gulf Oil and IndusInd Bank, the three BSE-listed firms, do not have any individual shareholding of the family, as per data provided by the companies to the exchange. These companies have promoter group entities holding stakes. Hinduja Global Solutions, the BPO service provider, is the only group company that has members of the Hinduja family directly holding shares. The promoter stake of Hinduja flagship firm Ashok Leyland is split into four entities -- Hinduja Bank (Switzerland), Hinduja Automotive, Hinduja Foundries Holding and CitiBank NA -- making up nearly 52 per cent stake. No Hinduja family member holds any direct stake in Ashok Leyland, as per the BSE data. It is not known how much each brother holds in these companies. The brothers have been ranked together in rich lists. Among the third generation of the family Vinoo, Sanjay, Dheeraj, Ajay, Ramkrishan (Remi) and Shom Hinduja are involved with the group, while Shanu, Ritu, Ambika and Satya Hinduja are not engaged in the business. Dheeraj Hinduja, son of Gopichand Hinduja, is the chairman of Ashok Leyland. Dheeraj's brother Sanjay Hinduja chairs Gulf Oil. Their cousins Vinoo, Shom, Ambika and Shanoo are listed under the promoter group of Hinduja Solutions. ANZ ABM ABM

Hinduja family feud: $11 bn empire of truck making, lubricants, banks at stake

Mumbai, Dec 17 () Hinduja Group co-chairman Gopichand Hinduja on Tuesday said that while the USD 5 trillion target of 2024 is achievable, Prime Minister Narendra Modi-led government needs to shed the British style of bureaucracy to move faster.
 The industry veteran also said that the company has been willing to invest more than USD 20 billion in India, but it wants the obstacles to be removed and provide ease of doing business.
 "USD 5 trillion economy is an achievable target. The initiatives taken by Modi are great and his vision is excellent but his team has to be fast," Hinduja said at the India economic conclave 2019.
 He noted that the British style of bureaucracy still exists in India, while Britain has already modified their bureaucracy.
 "The first step we have to see is how our bureaucracy will be modified. Some 6-7 years back, we wanted to invest USD 20 billion more in India. When we started getting in, we could see so many obstacles and was not easy to do business. But when Modi announced the initiative of ease of doing business, we thought things will change. But the speed of change should be faster," he said.
 Hinduja further said his company would love to invest more and more in the country because India has the maximum opportunities to invest from all over the world.
 "Our only expectation is that the government should honour what it has committed," he added.
 Speaking at the event, Hinduja Group of Companies chairman Ashok Hinduja noted that system processes need to change.
 "There is a lot of criticism from SME and corporate sector about the fear and psyche, but I think this has to be there. We have to change the seven decade-old system processes and there has to be a stick approach and we need more transparency. But at the same time, there should be a limit to it and everything cannot be criminalised," he added. PSK MR
MR

Modi govt needs to shed British-style bureaucracy, move faster: Hinduja

<ul class="summary-list"><li>A Swiss court convicted four members of the UK's richest family of exploiting staff at their Geneva villa.</li><li>The family was given sentences ranging from four to four-and-a-half years.</li></ul>A Swiss court has convicted four members of the UK's richest family of exploiting staff at their Geneva mansion.The court found Prakash Hinduja, his wife Kamal, their son Ajay, and Ajay's wife Namrata guilty of exploitation and illegal employment, the <a target="_blank" href="https://www.bbc.co.uk/news/articles/c3ggl6pe52eo">BBC</a> reported.They were given sentences ranging from four to four-and-a-half years, the report said.More serious charges of human trafficking were dismissed.The ruling followed claims by three workers at the villa that the family had taken their passports, paid them as little as $8 to work 18-hour days, and barred them from leaving the house, which is located in <a target="_blank" href="https://www.businessinsider.com/train-ride-geneva-switzerland-to-milan-italy-worth-it-2023-12">Geneva's</a> wealthy Cologny neighborhood — a hot spot for wealthy buyers that has attracted the heirs to several fortunes, including Chanel and Peugeot, per <a target="_blank" href="https://www.mansionglobal.com/articles/with-elegance-and-cachet-cologny-is-geneva-s-most-attractive-suburb-100191">Mansion Global</a>.The workers, who were brought to <a target="_blank" href="https://www.businessinsider.com/category/switzerland">Switzerland</a> from <a target="_blank" href="https://www.businessinsider.com/category/india">India</a>, also received little or no vacation time and slept in the basement, sometimes on a mattress on the floor, <a target="_blank" href="https://apnews.com/article/hinduja-switzerland-geneva-human-trafficking-exploitation-india-b0a40f9872ea096c4722754c1267490b">the Associated Press reported</a>.Lawyers representing the family said they would appeal the decision, per the BBC.Robert Assael, a lawyer for the family, said outside the court: "I'm shocked. We're going to fight it to the bitter end."<h2 id="a897e166-d7b2-4551-b968-e94f32ab96cf">The Hinduja family</h2>The family has a net worth of £37.196 billion, which is just over $47 billion, making them the UK's wealthiest family, according to the Sunday Times Rich List 2024.Prakash and his three brothers lead a family conglomerate that has interests in finance, healthcare, real estate, media, energy, and information technology, among other areas. Their companies operate across 48 countries, per the report.The family owns the five-star luxury Raffles Hotel in London, where the cheapest room usually costs more than £1,000 (around $1,200) a night, and the most expensive, the Haldane suite, can cost £25,000 (roughly $31,600) a night.The family also owns a 25-bedroom mansion on Carlton House Terrace, an exclusive street overlooking St James's Park in central London.In 2015, Gopichand Hinduja, Prakash's brother, told the Times of London that the family did not spend more than one in five nights at the 67,000-square-foot home due to fears that it may bring them bad luck."Indians are very sentimental, emotional and they believe in omens and good luck," Gopichand Hinduja said."Although this has been built for the whole family, my wife and the family don't want to move here because they say that [our old house] has good luck . . . I can tell you the occupancy [here] is not more than 20 per cent," he added.

4 members of UK's richest family convicted of exploiting servants at Swiss mansion

<ul><li>Cancerians, like <keyword id="111343" type="General" weightage="80" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>, contributed 8.5% to the cumulative wealth, saw a 26.4% erosion.</li><li>Aries comes fourth, courtesy <keyword id="3820" type="General" weightage="80" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> who saw a 2% uptick in his wealth to top of the list.</li><li>Virgos, led by the likes of <keyword id="10020505" type="General" weightage="80" keywordseo="shapoor-pallonji-mistry" source="Orion">Shapoor Pallonji Mistry</keyword> and Anil Agarwal contributed 9.6% to the list.</li></ul> The stars have to align for entrepreneurs to become billionaires, they say. While not everyone believes in it, 360 ONE Wealth Hurun India Rich List 2023 report gives a detailed list of the star signs of India’s most successful billionaires. As of 2023, those with the <keyword id="123559" type="General" weightage="100" keywordseo="pisces" source="Orion">Pisces</keyword> sign had a great year, followed by Taurus and Libra. Things were not that smooth for the Cancerians who saw 26% of their wealth eroded. While there was a cumulative wealth increase of almost 35% for the Pisces, Taurus saw an uptick of 26.6%. Librans were just behind with 25.2% growth in wealth. Virgos, Aquarians, Capricorns, Leos and Gemini’s saw a double digit growth in wealth in the last one year. Aries, and Scorpios saw single digit rises. For Sagittarians, there was barely any change. The top contributors to the list A closer look at the star signs of India’s richest shows that, overall, Virgos and Scorpios led the way in total contribution, with the highest number of entries followed by Pisces. Virgo, the star sign was led by the likes of Shapoor Pallonji Mistry, Anil Agarwal, Gopikishan Damani and contributed 9.6% to the Hurun Rich list. Shapoor Pallonji Mistry has total wealth of ₹70,800 crore and is fifth on the list of Richest Non-Resident Indians. Anil Agarwal of Vedanta Group has ₹66,900 cr with his family after seeing a 14% uptick. While Cancerians cumulatively saw an erosion, the likes of Gautam Adani, who has come second overall despite a tough year, contributed 8.5% to the rich list. The Aries in this list were propelled to the fourth spot, courtesy Mukesh Ambani who saw a 2% uptick in his wealth to top the individual list. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zodiac sign </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total contribution to the list (%) </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Richest Individuals </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Virgo </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.60% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shapoor Pallonji Mistry, Anil Agarwal, Gopikishan Damani </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Scorpio </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.10% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Yusuff Ali MA, Sunil Mittal, Arvind Kumar Poddar </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pisces </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.00% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gopichand Hinduja, Radhakishan Damani, Uday Kotak </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aries </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.90% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani, Sudhir Mehta, Adi Godrej, S Gopalakrishnan </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gemini </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.90% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LN Mittal, Kumar Mangalam Birla, Rahul Bhatia </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Leo </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.80% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sri Prakash Lohia, Acharya Balkrishna, Rakesh Gangwal </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Cancer </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.50% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani, Shiv Nadar, Benu Gopal Bangur </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Capricorn </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.10% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Karsanbhai Patel, Vijay Chauhan, Radha Vembu </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Aquarius </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.60% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nusli Wadia, Vikram Lal, Jamshyd Godrej </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Taurus </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.50% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Cyrus S Poonawalla, Rajiv Singh, Harsh Mariwala </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">11 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sagittarius </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.20% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ravi Jaipuria, Sajjan Jindal, Mangal Prabhat Lodha </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Libra </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.70% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Dilip Shanghvi, Chandru Raheja, P Pitchi Reddy </td></tr></tbody></table>Source: 360 ONE Wealth Hurun India Rich List 2023

Star power: Indian billionaires with Pisces zodiac sign had a good run last year

<ul><li>Mukesh Ambani regained his No. 1 position even as his wealth grew only 2% in the year.</li><li>Nearly 65% of people in the list amassed a combined wealth of close to $1 trillion.</li><li>As many as 55 people dropped out of the rich list, the most notable being Byju Raveendran.</li><li>Startup founders’ wealth saw a collective dip of ₹85,000 crore. </li></ul>A lot has changed in the last one year, but there are few surprises in the 360 ONE Wealth Hurun India Rich List 2023 released on Tuesday. The chairman of Reliance Industries Mukesh Ambani surged to the top spot as India’s richest man. India has added 38 <keyword id="6393637" type="General" weightage="20" keywordseo="billionaires" source="Orion">billionaires</keyword> to its rich list, taking the total tally to 259. Even as the developed world is staring at a recession, India is cementing its position as an economic powerhouse. Nearly 65% of people in the rich list amassed a combined wealth of close to $1 trillion. This is akin to the combined GDP of Singapore and the UAE, Hurun said. Mukesh Ambani surpassed Gautam Adani, who dropped to the second spot, in spite of only a 2% growth in his wealth in the last one year. After Adani’s wealth more than halved in the last year, the gap between Ambani and Adani wealth widened by ₹3,30,000 crore. The top 10 has seen a lot of upheaval in the last one year – as only Shiv Nadar and Cyrus Poonawala were able to hold on to the positions they held last year. Gautam Adani’s brother Vinod Shantilal Adani who was the sixth richest Indian last year, exited the top 10 list this year. He is now the twelfth richest Indian after his wealth dropped by 37%. The other notable exit is Uday Kotak, the chairman of Kotak Mahindra Bank who is now the 11th richest man in the county after his wealth dropped 6% last year. Kumar Mangalam Birla &amp; family and Niraj Bajaj &amp; family made a remarkable return to the top 10 this year as wealth went up by 5% and 7% respectively. India <keyword id="8030144" type="General" weightage="20" keywordseo="top-10-richest" source="Orion">Top 10 richest</keyword> Indians <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹808,700 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹474,800 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cyrus S Poonawalla &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹278,500 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shiv Nadar &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹228,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gopichand Hinduja &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,76,500 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dilip Shanghvi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,64,300 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LN Mittal &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,62,300 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radhakishan Damani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,43,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kumar Mangalam Birla &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,25,600 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Niraj Bajaj &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,20,700 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr></tbody></table>Source: 360 ONE Wealth Hurun India Rich List 2023 ‘India a shining moon as world stares at recession’ The cumulative wealth of 1,319 individuals who possess more than ₹1,000 crore in the rich list went up by 8.5% in the last year. However, their average wealth has decreased by 9.3%. The India Rich List added 273 new entrants and 38 new billionaires over the last year. The number of dollar billionaires also went up to 259, up 38 as compared to last year. “The trends prove that India is a shining moon in a world that is staring at recession. While the China Rich List has dropped 10% for each of this year and last year, both in terms of average wealth and in terms of the number of people that make the list. India is closing the gap,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India. India has 259 billionaires, up 38 compared to last year. While industrial products, metals &amp; mining added the greatest number of new entrants to the list. Pharma still holds the numero uno position and contributed 133 entrants to the list. “Over the past five years, many entrepreneurs have witnessed extraordinary wealth growth, some experiencing an astonishing 1,000% surge. Construction and engineering emerge as the top gainers in the top 100 list, followed closely by pharmaceuticals which has a cut-off of ₹20,000 crore,” said Anirudha Taparia, co-founder and joint CEO, 360 ONE Wealth. Funding winter &amp; founders’ wealth While 264 in the Indian rich list saw their wealth drop in the last one year, there were as many as 55 dropouts. The most notable of the dropouts is Byju Raveendran. The founder of edtech Byju’s exited the list on the back of investor markdowns. The funding winter and its ripple effects led to startup founders on the list experiencing a collective wealth dip of ₹85,000 crore. Recent policies, like the retrospective GST imposition on gaming companies and the angel tax and so on, could potentially hinder long-term wealth generation by startups, Hurun said. However, a few IPOs that stumbled last year did make a comeback. As new-age internet companies gain in value, entrepreneurs like Deepinder Goyal of Zomato and Yashish Dahiya of PB Fintech have seen their wealth increase by over 70%. Startup wealth creation will persist, albeit within a changing landscape, Junaid said. The IPO stars: Public issues and rich list debuts The stock markets also rewarded many public debuts and made their founders into billionaires. Ramesh Kunhikannan’s Kaynes Technology made a strong stock market debut. And he entered the list with a wealth of ₹8,200 crore. The spectacular listing gains provided by stock market debuts of many companies have pulled their owners into the rich list. Some of them include Jagdish Prasad Chowdhary of Titagarh Wagons, Ranjit Pendurthi of Archean Chemical Industries and Ajay P Thakker &amp; family of Jupiter Life Line Hospitals. Pavan Kumar Bajaj and Karan Bajaj of Electronics Mart India and Harsha Engineers’ Harish Rangwala and Rajendra Shantilal Shah too entered the coveted list of richest Indians after their stocks skyrocketed on debut. But there is money to be made in private markets too. Manish Kejriwal of Kedaara Capital became the first Indian Private Equity fund manager to enter the list.

Hurun India Rich List: Birla and Bajaj back in the top ten with Ambani on top in 2023

More people have become <keyword id="6393637" type="UNKNOWN" weightage="20" keywordseo="Billionaires">billionaires</keyword> than at any point in British history. The <keyword id="107899" type="COMPANY" weightage="20" keywordseo="Sunday-Times">Sunday Times</keyword>, UK, reported this year's Rich List that identifies a record 171 UK billionaires -- 24 more than in 2020. That is the biggest jump in the 33 years The Sunday Times has been tracking the fortunes of the UK's most affluent people. The combined fortunes of the billionaires in this Rich List grew by nearly 22 per cent to 597.269 billion pound. The richest person on the list is Sir Len Blavatnik, a Ukrainian-born businessman who made his money from energy and aluminium groups in the former Soviet Union. He earlier topped the list in 2015. <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword> born brothers David and Simon Reuben were listed as Britain's second-wealthiest, with a combined fortune of 21.5 billion pound. Indian steel magnate <keyword id="29201" type="PERSON" weightage="20" keywordseo="Lakshmi-Mittal">Lakshmi Mittal</keyword> climbed up in the list from No.19 last year to No.5 this year, <keyword id="6367997" type="COMPANY" weightage="20" keywordseo="mittal">Mittal</keyword>, has seen <keyword id="11302048" type="UNKNOWN" weightage="20" keywordseo="net-increase">net increase</keyword> by 7.899 billion to 14.68 billion pound. Srichand and Gopichand Hinduja and family have fallen in the rankings from No.1 in 2019, to No.2 in 2020, down to No.3 this year. The family's net increased by 1 billion, to 17 billion pound. Chronicle Live UK reported would-be Newcastle United owners David and Simon Reuben's fortune has risen by an astonishing 5 billion during the last year as they maintained their place as the second richest people in the UK. The Reubens would only be part owners of United in the deal proposed by Amanda Staveley but their wealth, combined with that of Saudi PIF, would make Newcastle financial powerhouses if the deal can be resurrected through either arbitration or various court cases. The Times reported the Reubens as going on a "spending spree" during the last year, snapping up buildings at far below market value. They spent $150million on Manhattan hotel The Surrey -- and have "snapped up undervalued hotels and other properties", in particular in the US. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/startups/news/esper-an-android-based-development-platform-raises-30-million-as-pandemic-accelerates-adoption-of-intelligent-devices/articleshow/82822560.cms">Esper, an Android-based development platform, raises $30 million as pandemic accelerates adoption of intelligent devices</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/the-number-of-working-women-in-india-has-been-steadily-declining-heres-why/articleshow/82823052.cms">The number of working women in India has been steadily declining, here’s why</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/tech/apps/news/indian-government-asks-whatsapp-to-scrap-its-privacy-policy-calls-it-unfair-and-discriminatory/articleshow/82796725.cms">Indian government threatens legal action against WhatsApp’s new privacy policy – WhatsApp refuses to back down</a>

Reuben brothers from Mumbai are now the 2nd richest billionaires in UK

The Hinduja brothers have topped the 2017 list of the richest people in the UK with a wealth of 16.2 billion pounds, a massive 3. 2 billion pound hike in their fortunes over the previous year, according to PTI news report. 'The <keyword id="642222" type="UNKNOWN" weightage="20" keywordseo="Sunday-Times-Rich-List">Sunday Times Rich List</keyword>' says that Brexit does not seem to have affected the country's billionaires, who grew in numbers with a 14 per cent rise in their fortunes since the referendum last June to earn a record 658 billion pounds collectively. Srichand and Gopichand Hinduja, aged 81 and 77, lead the pack of 134 UK-based billionaires on the list and have made their fortune from investments in industries such as oil and gas, automotive, IT, energy, media, banking, property and healthcare sectors. Their latest project is converting the Old War Office in London into a five-star hotel and luxury apartments, the newspaper notes. Another sof India-born billionaire brothers, David and <keyword id="1030837" type="PERSON" weightage="20" keywordseo="Simon-Reuben">Simon Reuben</keyword>, who had topped the list last year have moved down to third place with steel tycoon <keyword id="75195" type="PERSON" weightage="20" keywordseo="Lakshmi-N-Mittal">Lakshmi N Mittal</keyword> at fourth. The second spot, occupied by the Hinduja brothers until 2016, has been taken over by Russian-born American businessman <keyword id="222885" type="PERSON" weightage="20" keywordseo="Len-Blavatnik">Len Blavatnik</keyword>. "While many of us worried about the outcome of the <keyword id="6355123" type="ORGANIZATION" weightage="20" keywordseo="EU">EU</keyword> referendum, many of <keyword id="11101" type="COUNTRY" weightage="20" keywordseo="Britain">Britain</keyword>'s richest people just kept calm and carried on making billions," said Robert Watts, compiler of the list. "We expected to see a chilling effect in the run-up to the EU referendum, but that simply did not materialise. A buoyant stock market usually drives the wealth of Rich Listers higher, and since last June equities have soared," he said. This year's list was also described as more diverse in composition, with more women, more people from ethnic backgrounds, and more from surprising walks of life, with egg farmers and pet food makers among the super-rich line-up. It now takes assets of 110 million pounds to break into the ranks of the richest 1,000 people in the UK. The figure in 2016 was 103 million pounds. The top 20 in the list alone are worth a total of 191.77 billion pounds, increasing their wealth by 35.18 billion pounds over the past 12 months.

An Indian just got through the richest people list in the UK! Here’s who

<div class="KonaFilter image-container display-table float_right"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/54de62e9eab8ea26728b4567-600-450/jlo-hinduja-wedding.jpg" border="0" alt="JLo Hinduja wedding"><a href="https://twitter.com/TheShilpaShetty/status/565958341239656450">TheShilpaShetty/Twitter</a>JLo rocked the Hinduja wedding.</img></div></div></div>A member of India's billionaire Hinduja dynasty got married on Thursday and the multi-million-dollar-affair was the place to be for India's rich and famous.Sanjay Hinduja, the son of business legend Gopichand Hinduja and chairman of Gulf Oil <keyword id="6356001" type="COMPANY" weightage="60" keywordseo="international">International</keyword>, married designer Anu Mahtani on Thursday after a week of celebrations that reportedly cost upward of $20 million. The wedding took place in&#xa0;Udaipur, a city in Rajasthan state, at the&#xa0;island palace where the James Bond movie "Octopussy" was shot. Highlights included performances from Jennifer Lopez and pop artist Nicole Scherzinger, as well as a number of Bollywood stars.<a href="http://www.dailymail.co.uk/news/article-2952115/Hinduja-tycoon-designer-bride-marry-stunning-Bollywood-ceremony-complete-entertainment-J-Lo-Nicole-Scherzinger.html">According to the Daily Mail</a>, more than 200 private jets chartered guests to the palace, and some 16,000 people attended week-long events leading up to the wedding.Here's a look at the lavish affair:<div><div><iframe src="//instagram.com/p/zCFm3WLzZr/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div>JLo killed it on stage.<div><div><iframe src="//instagram.com/p/zCLGXFKP8n/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div><div><div><iframe src="//instagram.com/p/zBuSwABwW_/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div>British film actress Sophie Choudry posed with the groom.<div><div><iframe src="//instagram.com/p/y_UtJGhNss/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div>Bollywood star Ranveer Singh posed with Nicole Scherzinger and other Indian celebs.<div><div><iframe src="//instagram.com/p/zCPA-8Etet/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div>People were really excited when JLo arrived a few days early. It was her first trip to India.<div><div><iframe src="//instagram.com/p/zACL_OI9wB/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div>She obviously had to take some selfies while touring around.<div class="KonaFilter image-container display-table"><div><div class="image"><img src="https://static-ssl.businessinsider.com/image/54de68296bb3f710458b4568-666-499/jagmandir-island-palace-1.jpg" border="0" alt="Jagmandir Island Palace"><a href="http://www.hrhhotels.com">HRH Group of Hotels</a></img></div></div></div>The luxurious Jagmandir Island Palace venue.<div><div><iframe src="//instagram.com/p/zCrRTthHpC/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div>Here's&#xa0;Nicole Scherzinger again. Check out that decor.<div><div><iframe src="//instagram.com/p/zCZtfcBwSy/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div> Here are socialites Shilpa Shetty, Preity Zinta, Manish Malhotra, Sophie Choudry and Raveena Tandon.<div><div><iframe src="//instagram.com/p/y_eCqaiCWk/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div> Arjun Kapoor, Ranveer Singh and Nicole Scherzinger perform.<div><div><iframe src="//instagram.com/p/y2dRUqC2OX/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div>&#xa0; Guests were asked to wear traditional Indian dress to the ceremony.<div><div><iframe src="//instagram.com/p/y_4Q1iLaaH/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div> Here's Nicole Scherzinger, who sang "Jai Ho! (You Are My Destiny)" from the film "Slumdog Millionaire."<div><div><iframe src="//instagram.com/p/zCBYpxRzeP/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div><div><div><iframe src="//instagram.com/p/y91K3bxzX9/embed/" width="658" height="" frameborder="0" scrolling="no" allowtransparency="true"></iframe></div></div> Looks like it was quite the bash. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/love-marriage-china-happiness-2015-2">These are the keys to a happy marriage in China</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Nsbzc1czrphijp4_avDx_0M18MsEnDvf" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'Nsbzc1czrphijp4_avDx_0M18MsEnDvf',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

You Searched For "Gopichand Hinduja" and got 15 results

S P Hinduja, eldest of Hinduja brothers, passes away

PTI

UK's Asian Rich list: Hinduja family retain top spot, UK PM Sunak, his wife make debut

PTI

The billionaires who want to fly Jet Airways are also the world's largest bus manufacturers

Preeti Soni

Here are the 5 richest families in India — who together hold a fortune of ₹9,22,600 crore

Preeti Soni

One of the richest Indian families has its eye on Jet Airways

Dilsher Dhillon

IndusInd Bank shares slide as a year-old Cayman Islands order against Hinduja Bank resurfaces

Sriram Iyer

Bid for Yes Bank: The $15 billion Hinduja Group and a New York-based investor reportedly join hands

Sanchita

Sriram

Hinduja family feud: $11 bn empire of truck making, lubricants, banks at stake

PTI

Modi govt needs to shed British-style bureaucracy, move faster: Hinduja

PTI

4 members of UK's richest family convicted of exploiting servants at Swiss mansion

Cameron Manley

Star power: Indian billionaires with Pisces zodiac sign had a good run last year

Abhishek Jha

Hurun India Rich List: Birla and Bajaj back in the top ten with Ambani on top in 2023

Katya Naidu

Reuben brothers from Mumbai are now the 2nd richest billionaires in UK

IANS

An Indian just got through the richest people list in the UK! Here’s who

BI India Bureau

This $20 million Indian wedding included 16,000 guests and a performance by Jennifer Lopez

Portia Crowe