Mumbai is home to India’s top entrepreneurs, according to the IIFL Wealth Hurun India Rich List 2019. The city has added 13 billionaires this year, extending its number of super-rich individuals to 246 or 26% of the rich list.
New Delhi (175) and Bengaluru (77) are ranked second and third on the list, while Hyderabad, with 21 new entrants, overtook Ahmedabad to take the 4th spot. Smaller cities such as Kozhikode (3), Rajnandgaon (2), Bikaner (1), Indore (1), Chandigarh (1) have also found a place on the list.
“This year, Mumbai, Delhi and Bengaluru have contributed only 36% of the new additions compared with last year’s 59%. This means new billionaires are coming from new cities,” said Anas Rahman Junaid, MD and chief researcher, Hurun Report India. Mukesh Ambani, chairman of Reliance Industries, continues to top the list with a net worth of ₹3,80,700 crore. Maharashtra and Delhi are the preferred States to reside in for individuals on the list.
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Industrialists from Maharashtra who have made it to the top 10 include Uday Kotak (ranked 6), chairman Kotak Mahindra Bank, with a net worth of ₹94,100 crore; Cyrus S. Poonawalla (7) of Serum Institute of India with a net worth of ₹88,800 crore; Cyrus Pallonji Mistry (8) of Shapoorji Pallonji Group with a wealth of ₹76,800 crore, and Dilip Shanghvi (10) of Sun Pharmaceutical with a net worth to ₹71,500 crore. Ignatius Navil Noronha (44) of Avenue Supermarts is the only Indian CEO featured in the Top 10 Non-Promoter CEO List, the rest are from the U.S.
Among the top 10 richest women, three are from Mumbai and two from Delhi. Roshni Nadar of HCL tops the list (₹36,800 crore) and is followed by Smita V. Crishna of Godrej (₹31,400 crore). Manju D. Gupta of Lupin (₹18,000 crore) and Sangita Jindal of JSW Steel (₹9,600 crore) are also on the list.