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Gautam Adani, Naveen Jindal, Anand Mahindra and Kumar Mangalam Birla increased their net worth despite COVID-19 wreaking havoc

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Gautam Adani, Naveen Jindal, Anand Mahindra and Kumar Mangalam Birla increased their net worth despite COVID-19 wreaking havoc
  • Despite the turbulence brought on by the pandemic in 2020, 150 Indian billionaires saw their wealth increase over the past one year.
  • The biggest gainers were the Adani Family, Byju Raveendran and Anand Mahindra.
  • New faces that made it only the list this year include Naveen Jindal, Kumar Mangalam Birla and Murali Divi.
Every year a few names drop off the Hurun Rich List and some rise up in the ranks but 2020 was no ordinary year. Businesses were brought to their limits in trying to cope with the challenges of the coronavirus pandemic. India, despite the circumstances, rose to become the country with the third largest number of billionaires in the world — after China and the US.

The Asian giant has 177 billionaires at home, which is an increase of 40 from last year. Mukesh Ambani still reigns supreme, as not only the richest man in India, but in Asia.

Here is how the rankings shifted this year:
  • Number of billionaires who saw their wealth increase: 150
  • Number of billionaires who saw their wealth decrease: 16
  • Number of billionaires who saw no change in estimated net worth: 12
  • New faces: 50
  • Drop-offs: 10
In addition to the 177 billionaires within India, there are another 32 billionaires of Indian origin, living outside of India like LN Mittal of ArcelorMittal in the UK or Zscaler’s Jay Chaudhry in the US.

Here is a quick look at the top gainers and new faces among Indian billionaires on the Hurun Rich List 2021:

Gautam Adani and family — $32 billion

Gautam Adani and family — $32 billion
Indian billionaire industrialist, Gautam Shantilal Adani who is the chairman and founder of the Adani GroupBCCL

58-year old Adani saw his wealth almost double to $32 billion, estimatedly, pulling him up by 20 ranks. The jump in value was on the back of Adani Green Energy growing to a $20 billion valuation, according to the Hurun Rich List 2021.

Globally, Gautam Adani is 48th on the list and in India he ranks second after Reliance Industries’ Mukesh Ambani.

Vinod Shantilal Adani was the biggest gainer within the family with a 128% jump in his estimated net worth, which hit $9.8 billion, as per Hurun’s report.

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Shiv Nadar and family — $27 billion

Shiv Nadar and family — $27 billion
Shiv Nadar and his daughter, Roshni NadarBCCL

The founder of Indian IT services behemoth HCL, 75-year old Nadar saw this net worth increase by $10 billion. This was led by a 66% increase in the share price of the software and services giant HCL, according to the report.

His daughter, Roshni Nadar, was appointed as the chairman of HCL Technologies in July 2020.

He may not be the richest man in India, but he is the richest IT billionaire.

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Anand Mahindra & family — $2.4 billion

Anand Mahindra & family — $2.4 billion
The chairman of Mahindra and Mahindra, Anand MahindraBCCL

The Mahindra & Mahindra chairman is another Indian billionaire who saw his wealth double in 2020. The company is looking at manufacturing electric vehicles (EVs) in India and capitalising on the green energy wave.

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Byju Raveendra and family — $2.8 billion

Byju Raveendra and family — $2.8 billion
Co-founder of the ed-tech startup Byju's, Byju RaveendraBCCL

The founder of Byju’s saw his estimated net worth double in 2020 as the ed-tech startup reached a new high as a learning solution to COVID-19 lockdowns.

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NR Narayana Murthy — $3.1 billion

NR Narayana Murthy — $3.1 billion
Infosys co-founder NR Narayana MurthyBCCL

The Infosys co-founder saw his net worth increase 35% this past year. His son-in-law Rishi Sunak, 40, is the UK Chancellor of the Exchequer — the most powerful person in the British government after the prime minister, according to Hurun.

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Nithin Kamath and family — $1.9 billion

Nithin Kamath and family — $1.9 billion
Founder of Zerodha, Nithin KamathBCCL

The founder of the financial services app, Zerodha, Nithin Kamath saw his wealth increase by 90% in 2020. He is one of the younger Indian billionaires on the list at 41 years old.

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New entry: Pankaj Munjal & family — $1.2 billion

New entry: Pankaj Munjal & family — $1.2 billion
Chairman and MD of Hero Cycles, Pankaj MunjalBCCL

The chairman and MD of cycle manufacturer Hero Cycles, made it onto the list for the first time with $1.2 billion. The surge in his estimated net worth is believed to be a result of the increase of e-bike demand in India, according to the report.

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New entry: Murali Divi & family — $7.4 billion

New entry: Murali Divi & family — $7.4 billion
Founder and chairman of Divi's Laboratories, Murali DiviBI India

The founder and chairman of pharmaceutical major Divi’s Laboratories, Murali Divi, also made his debut onto the Hurun Rich List 2021. The company’s stock hit a record high on February 8.

The 69-year old Indian scientist-turned drugmaker doubled his wealth during the coronavirus pandemic. However, Hurun’s estimated net worth only pegs a 61% jump.

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New entry: Kumar Mangalam Birla & family — $9.2 billion

New entry: Kumar Mangalam Birla & family — $9.2 billion
Indian industrialist and the chairman of the Aditya Birla Group Kumar Mangalam BirlaBCCL

Kumar Mangalam Birla, the 53-year old at the helm of the global conglomerate Aditya Birla Group saw his wealth surge by 61% to $9.2 billion.

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New entry: Naveen Jindal and family — $1.3 billion

New entry: Naveen Jindal and family — $1.3 billion
Industrialist Naveen Jindal watching the final Tournament of Sir Pratap Singh Cup at the Jaipur Polo ground in 2018BCCL

The powerhouse behind Jindal Steel and Power also made his way onto the Hurun Rich List 2021. As the lockdown was COVID-19 restrictions were eased in many parts of the country, Jindal Steel and Power reportedly saw an 80% jump in output.

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New entry: Dinesh Chandra Agarwal — $1 billion

New entry: Dinesh Chandra Agarwal — $1 billion
CEO and co-founder of IndiaMART, Dinesh Chandra AgarwalBCCL

The CEO and co-founder of IndiaMART, Dinesh Chandra Agarwal, found a way to make money despite the coronavirus pandemic crippling the company’s cash flow.

IndiaMART today has over 119 million registered buyers, and Agarwal claims that more than half of them are repeat buyers.

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