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The <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="261" meta.entityid="Congress">Congress</keyword> on Thursday latched on to a new rich list to attack the Centre, alleging that Prime Minister Narendra Modi's "<keyword id="21027901" type="General" weightage="100" keywordseo="billionaire-raj" source="keywords">billionaire raj</keyword>" is more unequal than even the <keyword id="20034027" type="General" weightage="20" keywordseo="British-Raj" source="keywords">British Raj</keyword> and it is also the cornerstone of the government's <keyword id="22965777" type="General" weightage="20" keywordseo="economic-policy-making" source="keywords">economic policy-making</keyword>. Congress general secretary in-charge communications <keyword id="20035989" type="General" weightage="20" keywordseo="Jairam-Ramesh" source="keywords">Jairam Ramesh</keyword> shared on X a media report which cited the <keyword id="21075617" type="General" weightage="20" keywordseo="Hurun-India-Rich-List" source="keywords">Hurun India Rich List</keyword> to state that India created a new billionaire every five days throughout 2023. "India has had one billionaire for every five days in 2023, and the non-biological Prime Minister's closest friend is the foremost among them all," Ramesh said on X. "Modi's Billionaire Raj is more unequal than even the British Raj. But it is also the cornerstone of the government's economic policy-making," he alleged. This is why, at a time when countries across the world are coalescing around the idea of a global billionaire tax, the Indian government has been conspicuously silent and continues to remain blind to rapidly increasing economic inequalities, Ramesh said. Recouping the dent caused by the <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> report, <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword>'s networth shot up 95 per cent to Rs 11.6 lakh crore last year, which helped him replace <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> to become the richest Indian, according to the 2024 Hurun India Rich List. Reliance Industries Chairman and Managing Director Ambani's overall networth increased by 25 per cent to Rs 10.14 lakh crore, as per the Hurun list. In 2023's report, Adani's wealth declined by 57 per cent to Rs 4.74 lakh crore, and Ambani was way ahead with a fortune of Rs 8.08 lakh crore. It can be noted that Adani's networth declined sharply following various allegations levelled by US-based short seller Hindenburg Research. The conglomerate has denied all the allegations. In the 2014 edition, Hurun had pegged Adani's fortunes at Rs 44,000 crore, which made him the tenth richest Indian then.

PM Modi's 'Billionaire Raj' more unequal than even British Raj: Congress

<keyword id="19895142" type="General" weightage="100" keywordseo="Shah-Rukh-Khan" source="keywords">Shah Rukh Khan</keyword>, widely known as the "King of <keyword id="19897820" type="General" weightage="20" keywordseo="Bollywood" source="keywords">Bollywood</keyword>," has officially joined the ranks of India’s wealthiest, debuting on the 2024 <keyword id="21075617" type="General" weightage="20" keywordseo="Hurun-India-Rich-List" source="keywords">Hurun India Rich List</keyword> with an impressive wealth of Rs 7,300 crores. But how did a Delhi boy with dreams of making it big in Mumbai become one of India’s richest individuals? Let’s dive into the ventures that propelled King Khan into the billionaires' club. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="20033371" type="General" weightage="20" keywordseo="Red-Chillies-Entertainment" source="keywords" meta.keywordsubtype="org" meta.entityname="Red Chillies Entertainment" meta.hostid="261" meta.entityid="Red Chillies Entertainment">Red Chillies Entertainment</keyword></h3>Shah Rukh Khan’s production company, Red Chillies Entertainment, has been a significant contributor to his wealth. Founded in 2002, Red Chillies has become a key player in Bollywood, producing blockbuster films and investing in high-quality visual effects. From chart-topping films like Chennai Express and Raees to the massive success of Pathaan in 2023, Red Chillies has consistently delivered box office hits. <div type="Article" hostid="261" msid="112412196" title="&amp;#39;Deadpool &amp;amp; Wolverine&amp;#39; screenwriters reveal secrets and spoilers, including the movie&amp;#39;s original villain and who wrote that Hugh Jackman divorce joke" mstype="2" mssubtype="0"></div>With an estimated revenue consistently in the hundreds of crores and a profit of Rs 85 crores last year, the company has not only cemented SRK’s position as a top actor but also as a successful producer. Furthermore, the company’s VFX division, Red Chillies VFX, has set new benchmarks in the <keyword id="20161413" type="General" weightage="20" keywordseo="Indian-film-industry" source="keywords">Indian film industry</keyword>, working on major projects that have earned critical and commercial acclaim, such as Ra.One, Fan, and Laal Singh Chaddha. These ventures have significantly bolstered SRK’s wealth, making Red Chillies Entertainment a cornerstone of his business empire. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="19899758" type="General" weightage="20" keywordseo="Kolkata-Knight-Riders" source="keywords" meta.keywordsubtype="org" meta.entityname="Kolkata Knight Riders" meta.hostid="261" meta.entityid="Kolkata Knight Riders">Kolkata Knight Riders</keyword></h3>Shah Rukh Khan’s entry into the sports business with the IPL franchise Kolkata Knight Riders (KKR) has been a masterstroke. Co-owned by SRK, Juhi Chawla, and Jay Mehta, KKR has become one of the most successful and profitable franchises not just in the Indian Premier League, but also in the sporting world. The team’s consistent performance on the field has been matched by its financial success off it, with KKR’s brand value rising steadily over the years. As per Forbes, the cricket team was valued at over $1 billion in 2022. This surge in valuation played a crucial role in boosting SRK’s wealth, contributing significantly to his fortune. The success of KKR, coupled with its passionate fan base and strong marketing, has made it a jewel in SRK’s business portfolio, further solidifying his status as a businessman. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Brand SRK: The most followed Indian on social media</h3>More than just a business mogul, Shah Rukh Khan is also a brand unto himself. With 44.1 million followers on Twitter, SRK is the most followed individual from the 2024 Hurun India Rich List on Indian social media. His massive <keyword id="20462299" type="General" weightage="20" keywordseo="social-media-presence" source="keywords">social media presence</keyword> has translated into lucrative endorsement deals and collaborations with global brands. <div type="Article" hostid="261" msid="112249289" title="One of Singapore&amp;#39;s flashiest CEOs was planning to throw a Tomorrowland-style party for the books. Then the mirage started to fall apart." mstype="2" mssubtype="0"></div>Consistently being one of the most visible endorsers, SRK earns substantially from <keyword id="20004407" type="General" weightage="20" keywordseo="brand-endorsements" source="keywords">brand endorsements</keyword>, with an estimated fee of Rs 4-5 crores per endorsement. His portfolio includes major brands like Hyundai, Dubai Tourism, and BYJU'S, further adding to his immense wealth. His ability to leverage his celebrity status into profitable business ventures has undoubtedly been a key factor in his <keyword id="21015152" type="General" weightage="20" keywordseo="wealth-accumulation" source="keywords">wealth accumulation</keyword>. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Real estate</h3>Real estate has always been a key component of wealth building, and Shah Rukh Khan is no exception. Shah Rukh Khan’s <keyword id="22962036" type="General" weightage="20" keywordseo="real-estate-ventures" source="keywords">real estate ventures</keyword> extend far beyond his iconic Mumbai residence, Mannat. One of his lesser-known yet highly lucrative ventures is in Dubai, where he and his wife Gauri Khan launched a luxurious beachfront residential project, the "SRK Boulevard," located in the posh Dana Islands. This mega project, worth over Rs 18,000 crore, features 10 residential buildings with high-end facilities, including marine sports and leisure amenities. Designed by Los Angeles architect Tony Ashai, with interiors by Gauri Khan, this project highlights SRK’s foray into international real estate <h3>And of course, films</h3>Shah Rukh Khan’s earnings from films and endorsements are a significant part of his wealth. Known as one of the highest-paid actors in India, SRK reportedly charges over Rs 100 crores per film. This is certainly no small amount, but it is unlikely that filmmakers will find fault with it, considering how his films regularly break box office records. As per IMdB, both 2023 films Jawan and Pathaan grossed over Rs 1000 crores worldwide. All in all, King Khan’s entry into the Hurun India Rich List is significant not just for him, but for the entire entertainment industry. SRK’s success reflects the growing financial clout of Indian film stars and the increasing importance of entertainment in wealth creation. In 2024 alone, Hurun India Rich Listers from the entertainment industry added Rs 40,500 crores to their wealth, with SRK leading the charge. This trend highlights the expanding influence of Bollywood and the entertainment sector in India’s broader economic landscape.

Baadshah of Bollywood Shah Rukh Khan debuts on India's richest list with Rs 7,300 cr — here's how the King made his wealth

From penthouses to palatial mansions, check out new digs of India’s richest

Living up to the expectations, <keyword id="20430890" type="General" weightage="20" keywordseo="Aman-Sehrawat" source="keywords">Aman Sehrawat</keyword> on Friday bagged the men's 57kg free-style <keyword id="20257145" type="General" weightage="20" keywordseo="bronze-medal" source="keywords">bronze medal</keyword> at the <keyword id="19933819" type="General" weightage="20" keywordseo="Olympics" source="keywords">Olympics</keyword> with a commanding win over Darian Toi Cruz, bringing some cheers to the <keyword id="22736140" type="General" weightage="20" keywordseo="Indian-wrestling-contingent" source="keywords">Indian wrestling contingent</keyword> that has been rocked by controversies. The 21-year-old U-23 world champion was the lone Indian male wrestler to qualify for the Paris Games and he did not disappoint, winning 13-5 in the bronze play-off at Champ de Mars Arena. The sport of wrestling has not missed a medal at the Olympics since 2008 and Aman's effort ensured the streak remained unbroken. Sushil Kumar broke the glass ceiling by winning the bronze in Beijing (2008), and since then Yogeshwar Dutt (2012), Sakshi Malik (2016), Ravi Dahiya and Bajrang Punia (2021) have kept the tradition intact. Aman's effort also helped India win its sixth medal and move closer to the Tokyo Games tally of seven. Antim Panghal (53kg), Anshu Malik (57kg), and Nisha Dahiya (68kg) could not reach the medal rounds in their respective categories. On the other hand, Vinesh Phogat (50kg) lost despite entering the final as she was disqualified from the gold-medal bout for being overweight. The disqualification led to a huge uproar in the country. The decision has been challenged in the Court of Arbitration for Sport (CAS). The hearing has concluded and a decision is expected by Sunday evening. Teenager Antim Pangal also landed herself in trouble for sending her sister to the Games Village on her accreditation card. She was deported along with her entourage. It was a fast-paced bout with quick moves from the two wrestlers. Once Aman got a measure of his rival, he did not give much of a chance to the Puetro Rican. He build a healthy 6-3 lead by the end of first period with consecutive takedown moves. As is usually the case, Aman, who thrives on a high-endurance game, first tried to wear down his opponent and then went for the kill. With dominating technical-superiority wins over Vladimir Egorov and Zelimkhan Abakarov, the Indian wrestler stormed into the semifinals without conceding a single point but was no match for Japan's Rei Higuchi in the semifinals. Having lost his parents at a tender age of 12, the famed Chhatrasal stadium -- where his father had enrolled him in 2013 -- became his second home. He comes from the centre that has given India four Olympic medallists -- Sushil Kumar, Yogeshwar Dutt, Bajrang Punia and Ravi Dahiya. Reetika Hooda (76kg) will be in action on Saturday, and if she wins a medal, India will match its Tokyo tally. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/brainbees-solutions-firstcry-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112403576.cms" target="_blank">Brainbees Solutions (Firstcry) IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Aman Sehrawat wins bronze, carries forward Chhatarsal's rich legacy

As India’s start-up ecosystem matures, a new trend is emerging: <keyword id="23791918" type="General" weightage="20" keywordseo="micro-acquisitions" source="Orion">micro-acquisitions</keyword>. This approach – focussed on buying smaller businesses – has become increasingly popular among Indian entrepreneurs looking for cost-effective growth avenues. Platforms like <keyword id="23791917" type="General" weightage="20" keywordseo="flippa" source="keywords">Flippa</keyword> are at the forefront of this shift, facilitating these transactions by offering a user-friendly, data-rich environment where buyers and sellers can connect seamlessly. In a country that has seen rapid growth in entrepreneurship, micro-acquisitions represent a shift from the traditional emphasis on large scale deals. And this trend is being fuelled by an influx of domestic funds and micro venture capital (VC) firms dedicated to nurturing early-stage startups. <h2>Changing Mindsets: Why Micro-Acquisitions?</h2>Entrepreneurs are turning to micro-acquisitions for the flexibility, speed and cost-efficiency that they offer. By targeting smaller, less capital intensive deals, they are able to side step the complexities of a traditional M&amp;A, making it a viable pathway for expansion and growth. Besides these can also help entrepreneurs diversify their holdings and adapt to market demands without overcommitting resources. Flippa allows Indian entrepreneurs to access a global marketplace where they can identify businesses aligned with their objectives. <h2>The M&amp;A Landscape in India</h2>While the US mergers and acquisitions market has seen slower growth, private capital inflows in India are on the rise, according to <a href="https://www.pwc.com/gx/en/services/deals/trends/private-capital.html">PwC</a>. The second quarter of 2024 proved to be a landmark period for Indian startups, with a 57% year-on-year surge in megadeals driving fundraising to an eight-quarter high of $5.2 billion, as reported by <a href="https://www.dealstreetasia.com/reports/india-deal-review-q2-2024">Deal Street Asia</a>. Flippa has capitalised on this trend. A marketplace founded in 2009 for buying and selling online businesses, it has amassed over 3 million users worldwide. As of <a href="https://flippa.com/data-insights?buy_sell=PR_DataInsights_EmbedGraphs">October 2024</a>, Flippa had 396,000 active buyers on its platform with a combined wallet of $75 billion, an increase of 15,000 active buyers month-on-month. This broad, engaged user base gives Indian entrepreneurs a diverse pool of acquisition targets, from digital properties to app-based ventures. Notably, data-driven app acquisition companies like KalaGato leverage Flippa to identify the right opportunities. “If you’re trying to get into the market, a platform like Flippa is a great place to start,” said Aman Kumar, Founder of KalaGato. <h2>Cutting Edge Technology At Work</h2>Flippa’s technology sets it apart, using a proprietary <a href="https://flippa.com/product/recommender-engine">matching algorithm</a> powered by an AI-driven graph neural network that assesses over 100 factors to match buyers and sellers. This technology streamlines the acquisition process, helping entrepreneurs find suitable opportunities more efficiently, especially in a crowded market like India, where navigating business brokers or directly approaching potential sellers can be time-consuming and fraught with challenges. “Flippa as a platform is continuously evolving. Once you start looking at exits or the potential to exit a business, then a platform like Flippa is super useful,” Kumar adds, emphasising the platform's adaptability to the needs of modern entrepreneurs. Another standout feature is its <a href="https://flippa.com/product/deal-room">multi-user Deal Room</a>. This comprehensive digital sales hub allows users to manage the entire sales process for online businesses and digital assets in one place. Sellers can communicate with buyers in real time, filter messages, and review offers and Letters of Intent (LOIs) within the Deal Room itself. This organisation is particularly helpful for entrepreneurs who may be overwhelmed by the volume of inquiries when trying to sell their business. The Deal Room provides real-time notifications about buyer engagement, ensuring that users can respond promptly and keep negotiations moving forward. Buyers are invited to the Deal Room on a scheduled basis, creating a structured interaction environment. <h2>Prioritising Security and Trust</h2>A secure transaction environment is crucial, especially for entrepreneurs new to acquisitions. Flippa’s <a href="https://flippa.com/product/insurance">insurance</a> policies offer this layer of security for both buyers and sellers. The Buyer Protect policy safeguards buyers against financial losses resulting from seller misrepresentation or breaches of warranty, covering up to 100% of the enterprise value of the business. Meanwhile, the Seller Protect policy shields sellers from potential financial losses, creating a balanced environment for transactions. This dual protection reinforces trust and allows the involved parties to focus on growth without worrying about potential hidden risks. <h2>Market Insights for Informed Decision-Making</h2>To further assist users in making informed decisions, <a href="https://flippa.com/product/market-insights/">Flippa Market Insights</a> provides valuable data on online businesses and digital assets. This tool enables users to compare prices of similar businesses, benchmark performance metrics like average order value and customer lifetime value, and access real-time sales data, including historical performance information. Users can filter this data by time period, business model, and price point, ensuring they have the insights needed to navigate the acquisition landscape effectively. Flippa’s expert vetting team reviews the stated financial performance of every asset priced above USD $50,000, providing an additional layer of credibility to the listings. <h2>A Bright Future for Micro-Acquisitions in India</h2>With the Indian startup ecosystem thriving and the appetite for micro-acquisitions only expected to grow, Flippa stands at the forefront by connecting ambitious entrepreneurs with the resources they need to succeed. Whether you’re an established business owner looking to expand your portfolio or a newcomer eager to dip your toes into entrepreneurship, Flippa offers a wealth of opportunities in this exciting landscape. So, if you are interested in starting your exit journey, get a free valuation for your business here - <a href="https://flippa.com/free-valuation">get a FREE valuation</a>. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>

The rise of micro-acquisitions in India: How Flippa is driving the trend

<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><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.

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