Paytm’s Vijay Shekhar Sharma becomes the richest entrepreneur under 40. This is his net wealth now

Paytm's Vijay Shekhar Sharma's wealth jumped 162% to Rs 7,300 crore and he is now the richest entrepreneur under 40 in Hurun's India rich list for 2016.

The rise in his wealth from Rs 2,824 crore a year earlier to Rs 7,300 crore is due to Alibaba's investment in Paytm and following funding rounds. As Paytm’s valuation jumped, Sharma’s net wealth also shot up. Sharma holds about 21% stake in the company.

Apart from Sharma, Indigo co-founder Rakesh Gangawal saw highest increase in wealth of over 150% at Rs 15,900 crore.

Anas Rahman Junaid, MD India of Hurun Report, magazine that focuses on high net-worth individuals in India and China, said subdued investor interest in e-commerce and online businesses had reduced valuations of ecommerce unicorns in 2016.