Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>According to the 2020 <keyword id="424923" type="PERSON" weightage="20" keywordseo="Hurun-rich-list">Hurun rich list</keyword>, <keyword id="81713" type="PERSON" weightage="20" keywordseo="Ashok-Soota">Ashok Soota</keyword> was among the top 10 new entrants with a net worth of ₹3,700 crore.</li><li>The Soota backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding </li><li>Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India. </li></ul>The Bengaluru-based IT speciality company Happiest Minds Technologies’ ₹702 crore IPO,⁠ which concluded two weeks ago, not only made its investors richer but also turned out to be a big moneymaker for its promoter Ashok Soota. According to the 2020 Hurun Rich List, Ashok Soota was among the top 10 new entrants to the list with a net worth of ₹ 3,700 crore. Hurun India dubbed Soota as “The IPO Star” — and placed him on the 282nd rank in the list of rich people in India. Happiest Minds IPO: The 8th most successful IPO in the decade The Soota-backed Happiest Minds IPO received a stellar response from investors and was oversubscribed nearly 151 times on the last day of bidding, making it the 8th most successful IPO in the decade. The Happiest Minds IPO received bids for 3.51 billion shares against the offer size of the 23.3 million. It was also the most subscribed IPO this year, followed by Route Mobile, which was subscribed 73 times. It was already on the cards! Well, Soota isn’t a newbie in the tech industry. The 77-year-old promoter brings with him more than 30 years of experience on the table. Before starting Happiest Minds 13 years ago, Soota was the founding Chairman and Managing Director of MindTree. Mindtree had completed its IPO in 2007 during his tenure and was subscribed 103 times by the investors. Soota also worked at Wipro for 14 years, rising to the post of the vice-chairman before he left Wipro to join Shriram Refrigeration Industries as senior vice president. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-vijay-shekhar-sharma-nithin-kamath-and-udaan-co-founders-are-in-the-list-of-richest-entrepreneurs-of-india/articleshow/78380782.cms">From Byju Raveendran, Vijay Shekhar Sharma to Nithin Kamath and Udaan co-founders – Here are the richest entrepreneurs of India</a> <a href="https://www.businessinsider.in/india/news/list-of-top-ten-richest-people-in-india-according-to-hurun-rich-list-2020/slidelist/78380656.cms">These are the top ten billionaires in India, according to Hurun Rich List 2020</a>

Happiest Mind Tech IPO makes Ashok Soota one of India’s richest – marks his debut on Hurun Rich List 2020

India's top 10 leading female philanthropists making a difference

Zoho founder, Radha Vembu, tops India’s self-made women billionaires list

Meet Rekha Rakesh Jhunjhunwala, the top Indian entrant in 2023 M3M Hurun Global Rich List

<ul class="summary-list"><li>Bottled water tycoon Zhong Shanshan has become richest man in <keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> with $60.6 billion, according to the Hurun China Rich List.</li><li>In the second place is Zhang Yiming, founder of ByteDance, TikTok's parent company.</li></ul>A low-key Chinese <keyword id="12136587" type="UNKNOWN" weightage="60" keywordseo="billionaire" source="Orion">billionaire</keyword> who made his fortune selling bottled water has topped a list of the country's ultra-wealthy this year for the first time.With a fortune of $60.6 billion, <a href="https://www.businessinsider.com/asias-richest-man-zhong-shanshan-lifestyle-wealth-2021-1">Zhong Shanshan of Nongfu Spring</a> has overtaken tech titans <a href="https://www.businessinsider.com/inspiring-life-story-of-alibaba-founder-jack-ma-2017-2">Alibaba founder Jack Ma</a> and <a href="https://www.businessinsider.com/tencents-pony-ma-is-chinas-new-richest-man-2017-8">Tencent founder Pony Ma</a> on the <a href="https://www.hurun.net/en-US/Info/Detail?num=MHVMV3QV61L9">Hurun China Rich List.</a> The two Mas were in the first and second spots respectively last year and Zhong took third place.Zhong is the founder and chairman of Nongfu Spring. He is also the owner of the vaccine maker Beijing Wantai Biological Pharmacy Enterprise. Both companies went public last year, growing Zhong's personal <keyword id="11921347" type="UNKNOWN" weightage="60" keywordseo="wealth" source="Orion">wealth</keyword>.While the two Mas dropped to the fourth and fifth spots on the list, another tech tycoon rose. <a href="https://www.businessinsider.com/tiktok-billionaire-zhang-yiming-net-worth-lifestyle-2019-11">Zhang Yiming, founder of ByteDance,</a> TikTok's parent company, came in second place with a $52.8 billion fortune. Zhang tripled his wealth last year, according to the list.Real estate was among several sectors that took hits on the list this year. "From the Hurun China Rich List, we can see which industries and business models are on the up and which are on the way down. New energy has had an amazing year, whilst real estate, home tutoring services, pork production, and video gaming have had a bad year," <a href="https://www.hurun.net/en-US/Info/Detail?num=MHVMV3QV61L9">wrote</a> Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher.<a href="https://www.businessinsider.com/meet-billionaire-at-head-evergrande-the-worlds-most-indebted-company-2021-9">Hui Ka Yan,</a> the founder of embattled property giant China Evergrande, lost $25 billion over the past year and fell to the 70th spot with $11.3 billion. Hui had topped the list in 2017 and was in fifth place last year.The Hurun China Rich List is compiled annually by the Hurun Research Institute, a research and investment firm based in Shanghai. This is the first year it has included Hong Kong, Macau, and Taiwan, which added 197 names to the list. Overall, 520 more people with a fortune of at least 2 billion Chinese yuan ($310 million) were added this year. There are now 2,918 people on the list.

Bottled water billionaire Zhong Shanshan has topped a China rich list, overtaking the country's tech and real estate tycoons

<ul class="summary-list"><li>According to Hurun's 2024 rich list, China lost 432 billionaires since the high of 1,185 in 2021.</li><li>It's a reflection of China's struggling economy and a government crackdown on the superrich.</li></ul>The number of China's billionaires has dropped by a third since 2021, according to an annual rich list.There were fewer dollar billionaires as difficulties for China's economy and government crackdowns took their toll, <a target="_blank" href="https://www.hurun.net/en-us/rank/hsrankdetails?pagetype=rich">the Hurun Research Institute said.</a>Hurun, a private research group that has tracked Chinese billionaires since 1999, said the total peaked in 2021 with 1,185 billionaires, a figure which fell to 753, a decline of 432, or 36% of the total.It comes as some of China's superrich choose to lie low or leave the country, finding covert ways to take their money with them.<h2 id="4b530a5d-4714-4288-bffd-c77cf18006cc">An old guard departs</h2>Older tycoons — often real estate — are giving way to a new cohort propelled by tech, energy, and e-commerce.Topping the Hurun list this year was <a target="_blank" href="https://www.businessinsider.com/tiktok-billionaire-zhang-yiming-net-worth-lifestyle-2019-11">Zhang Yiming</a>, the founder of TikTok owner Bytedance, with a fortune of $49.3 billion.ByteDance's global revenue grew 30% last year to $110 billion, with users in the US of its TikTok app closing in on 200 million. ByteDance operates a separate app, Douyin, for Chinese users.Yiming replaced <a target="_blank" href="https://www.businessinsider.com/asias-richest-man-zhong-shanshan-lifestyle-wealth-2021-1">Zhong Shanshan</a>, who fell to second place with a fortune of $47.9 billion. His worth declined 24%, the biggest drop of the year at $15.5 billion."The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," said Rupert Hoogewerf, Hurun's Chairman and Chief Researcher."The likes of Robin Zeng of lithium battery maker CATL wasn't even on the list 10 years ago, neither was Li Zhenguo of solar panel maker Longi.""Most new faces this year came from Taiwan, which has enjoyed a relatively strong stock market, underpinned by its semiconductor industry," he said.Hoogewerf told Business Insider that the list only included people who were "born and bred, or started out and live in Greater China" up to a minimum age of 18, regardless of their current citizenship. <h2 id="bf71b05f-7223-409f-80f8-b31d7d85d3d0">A reflection of China's economy</h2>China's economy has been grappling with a prolonged housing crisis, high unemployment, high local government debt, and weak consumer demand. Those headwinds hit its superrich, too.Earlier this month, <a target="_blank" href="https://www.businessinsider.com/china-economy-3q-gdp-growth-stock-market-stimulus-2024-10">China released third-quarter growth data</a> that was its slowest in six quarters. The government is promising stimulus measures to boost economic growth and has plans to approve more than $1.4 trillion in extra debt in the next few years, according to <a target="_blank" class="" href="https://www.reuters.com/world/china/reaction-reuters-report-chinas-stimulus-plans-2024-10-29/">Reuters.</a>"With property prices falling and the economy generally tightening, it's not a big surprise the numbers of super-wealthy are falling in China," Kerry Brown, Professor of Chinese Politics at King's College London told BI."And people now don't want to draw attention to themselves while the government is laying stress on equity and greater balance."<h2 id="312e409a-c716-40ff-abfc-180d4446813d">An exodus of the superwealthy</h2>Chinese billionaires are also feeling <a target="_blank" href="https://www.businessinsider.com/china-regulate-excessive-wealth-common-prosperity-2021-8">Xi Jinping's push for a "common prosperity</a>," which was widely viewed as a call for billionaires to share their wealth.That led, among other things, to regulatory crackdowns on tech platform companies and campaigns against China's rich entrepreneurs.Some of China's superrich have also experienced political backlash for making statements perceived as against Xi, including <a target="_blank" href="https://www.businessinsider.com/jack-ma-teacher-alibaba-tech-titan-high-tech-farmer-agriculture-2023-12">Jack Ma, the founder of Alibaba and Ant Group and once the invincible poster boy of Chinese tech.</a>He <a target="_blank" href="https://www.businessinsider.com/jack-ma-not-missing-alibaba-china-2021-1">disappeared from public view</a> in 2020 after facing <a target="_blank" href="https://www.businessinsider.com/what-happened-ant-group-ipo-jack-ma-alipay-2020-11">action from Chinese regulators</a> that resulted in an antitrust investigation, a suspended IPO, and the loss of $12 billion in personal fortune within a few months."Other superrich individuals may have taken such high-profile cases as good reason to preempt possible trouble by moving out of China," Brown wrote in an article for <a target="_blank" href="https://theconversation.com/why-its-becoming-harder-to-get-super-rich-in-china-239774">The Conversation</a>.While this may not be reflected in the Hurun rich list, China is on track to see a record exodus of 15,200 high-net-worth individuals in 2024, according to a report by investment migration firm <a target="_blank" class="" href="https://www.henleyglobal.com/newsroom/press-releases/henley-private-wealth-migration-report-2024">Henley &amp; Partners.</a>High-net-worth individuals were classed as those with liquid investable wealth of $1 million or more.<h2 id="1c4d9b70-83c2-414a-ac76-1fb8ea05653b">Getting money out of China</h2>Individuals can wire no more than $50,000 a year overseas, which can be problematic for wealthy citizens who want to leave.According to a <a target="_blank" rel="noopener nofollow" href="https://www.bloomberg.com/news/articles/2023-10-08/how-china-s-rich-are-using-underground-networks-to-move-their-money-abroad?srnd=premium">Bloomberg</a> report last year, some ultra-rich Chinese citizens have been finding unusual, sometimes illegal, ways to move money in response.The report said that funds can move through an <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/china-economy-wealthy-investors-markets-rich-cash-banks-secret-transfer-2023-10">informal, underground banking system known as "hawala."</a> Those caught are typically fined 30% or more of the total amount that they had attempted to move."These agencies have sprouted to meet soaring demand," Joel Gallo, an adjunct professor of finance at New York University Shanghai, told Bloomberg. "They act as quasi-banking firms, yet operate without the scrutiny of one and adroitly engage in regulatory arbitrage by standing in a gray zone.Others are using virtual private networks to export their wealth in the form of crypto, which has been banned in China since 2021.<a target="_blank" class="" href="https://www.reuters.com/technology/bruised-by-stock-market-chinese-rush-into-banned-bitcoin-2024-01-25/">Reuters</a> reported that one finance executive used bank cards from small commercial banks to buy cryptocurrencies through gray-market dealers. He then capped each transaction at $6,978 to avoid alerting regulators.Brown, the expert at King's College London, said the loss of wealth in China shouldn't be overstated."It is still OK to be rich in China, if a bit less so than in the past. But it's probably more advisable to be low profile and very loyal in public to the Communist party — and to get rich working in high-tech sectors that the government favors."

China lost 36% of its billionaires to years of economic troubles and crackdowns

Youngest billionaires of India in 2024

Under-35 entrepreneurs with the highest social media following

With the start-up boom, increasing number pf entrepreneurs are coming on board. So much so that they are entering the super-rich list too. The debutants include <a href="http://www.businessinsider.in/You-may-soon-be-hopping-on-to-an-Ola-bus/articleshow/48155360.cms">Ola</a> founders Ankit Bhati, 28, and Bhavish Aggarwal, 29, who are also the youngest on the list. With their personal fortunes estimated at Rs 2,385 crore each, the duo are jointly ranked 238th.
 

	While the top spots are occupied by the old players, <a href="http://www.businessinsider.in/Reliance-Capital-Nippon-Life-Insurance-To-Start-A-Commercial-Bank-In-India/articleshow/41437313.cms">Reliance Industries</a> chairman <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> ranked numero uno with a net worth of Rs 1.6 lakh crore, the list also has some surprising new entrants. The Indian who posted the biggest gain in wealth over the past year is reported to be Dhiraj Rajaram, the 40-year-old founder of Bengaluru-based analytics firm <keyword id="6713503" type="COMPANY" weightage="100" keywordseo="Mu-Sigma">Mu Sigma</keyword> are some to state. Rajaram saw his personal fortune rise six-fold, to Rs 17,800 crore. His ranking has risen 127 spots to No. 38, according to the Hurun India Rich List for 2015. There are 76 new faces among the 296 who made it to the Hurun India Rich List this year, with the cut-off level being personal wealth of Rs 1,600 crore. Apart from <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword>'s Bhati and Aggarwal, other prominent tech entrepreneurs on the list include <a href="http://www.businessinsider.in/Flipkarts-new-move-will-make-it-the-dream-destination-for-all-sellers/articleshow/48574598.cms">Flipkart's</a> Sachin Bansal, 34, and Binny Bansal, 34, whose estimated wealth of Rs 9,010 crore each puts them at the 85th spot, a rise of 58 positions. Snapdeal's Kunal Bahl, 32, is a new entrant, jumping straight to the 243rd spot with a wealth of Rs 2,314 crore.
 <keyword id="198636" type="PERSON" weightage="100" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, 38, of mobile wallet and ecommerce firm <a href="http://www.businessinsider.in/Now-refill-your-Paytm-wallet-at-the-nearest-kirana-store/articleshow/48770295.cms">Paytm</a>, and Naveen Tewari, 39, of the mobile ad network InMobi are also a part of the list.
 

	Most of these technology and internet companies have raised significant amounts of private equity capital at substantial valuations over the past year. Flipkart's latest fund raise valued the firm at $15 billion, and Snapdeal's valued it close to $5 billion. Most of the new-age startup founders are also exceptional in that they are self-made; 85% of those in the list are part of family businesses.
 

	"Despite the weakening of the stock market and the rupee, the Hurun India Rich List expanded by 76 entrepreneurs, showing the resilience and dynamism of the Indian private sector," said Anas Rahman Junaid, India head, Hurun Report. The Hurun Report was started by researcher Rupert Hoogewerf. The first report, in 1999, was on the rich in China, and Hoogewerf has since been regularly bringing out a China rich list. The India initiative began two years ago.
 At the top, Mukesh Ambani was followed by Dilip Sanghvi of Sun Pharma, S P Hinduja &amp; family of the Hinduja Group, Shiv Nadar of HCL, and Pallonji Mistry of the <keyword id="261354" type="COMPANY" weightage="100" keywordseo="Shapoorji-Pallonji-Group">Shapoorji Pallonji Group</keyword>. For the first time, Wipro chairman <keyword id="6419840" type="PERSON" weightage="100" keywordseo="Azim-Premji">Azim Premji</keyword> fell off the top 5 rankings. He's now at the seventh spot, with his net worth plummeting 59% to Rs 51,900 crore. 
	 
	(Image credits: Indiatimes)

New age Indian entrepreneurs enter the super-rich list, Ola founders the youngest

<ul><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> is the only startup guy to be in the top 50 of the list. </li><li>Hurun Report India and IIFL Wealth Management have released the 8th edition of IIFL Wealth Hurun India Rich List 2019. </li><li>He is joined by others like Byju Raveendran, Sachin Bansal, Nithin Kamath, Binny Bansal in the list.</li></ul>Hurun Report India and IIFL Wealth Management have released the 8th edition of IIFL Wealth Hurun India Rich List 2019. While the obvious Mr Ambani tops the list, Paytm founder Vijay Shekhar Sharma is the only startup guy to be in the top 50 of the list. Sharma has a net wealth of ₹20,400 crores, according to the report. Sharma holds rank 41 in the list which has 953 entrants. He even ranks higher than Sunil Mittal of Airtel, Kiran Mazumdar Shaw of Biocon and Anand Mahindra of Mahindra Group. The billionaire entrepreneur is joined by others like Byju Raveendran, Sachin Bansal, Nithin Kamath, Binny Bansal in the list. Average wealth of the list is around ₹5,300 crores and the average age is 60 In 2017, Sharma was ranked as India’s youngest billionaire by Forbes. Paytm is the leading digital payments company in India. The parent company One97 communications houses 2 unicorns Paytm and Paytm Mall. The third subsidiary Paytm Money is also in its way to become a unicorn.

You Searched For "hurun rich list 2020" and got 10 results

Happiest Mind Tech IPO makes Ashok Soota one of India’s richest – marks his debut on Hurun Rich List 2020

Navdeep Yadav

India's top 10 leading female philanthropists making a difference

Kapil Yadav

Zoho founder, Radha Vembu, tops India’s self-made women billionaires list

Kapil Yadav

Meet Rekha Rakesh Jhunjhunwala, the top Indian entrant in 2023 M3M Hurun Global Rich List

Rounak Jain

Bottled water billionaire Zhong Shanshan has topped a China rich list, overtaking the country's tech and real estate tycoons

Huileng Tan

China lost 36% of its billionaires to years of economic troubles and crackdowns

Hannah Abraham

Youngest billionaires of India in 2024

Kapil Yadav

Under-35 entrepreneurs with the highest social media following

Kapil Yadav

New age Indian entrepreneurs enter the super-rich list, Ola founders the youngest

BI India Bureau

Paytm’s Vijay Shekhar Sharma is wealthier than Sunil Mittal, Kiran Mazumdar Shaw, Anand Mahindra and several others

Sanchita Dash

Popular Keywords

Buying Guides