Nearly 18 months after short-seller Hindenburg Research levelled serious allegations of financial misconduct and stock manipulation against Gautam Adani-led conglomerate Adani Group, the billionaire businessman recouped from the setbacks to become the richest Indian again, replacing Reliance Industries chairman and managing director in the 2024 Hurun India Rich List.
Adani's networth went up 95 per cent to Rs 11.6 lakh crore last year, while Ambani's overall networth increased by 25 per cent to Rs 10.14 lakh crore in the same period.
Adani's wealth had declined by 57 per cent to Rs 4.74 lakh crore as per the 2023 report, and Ambani was way ahead with a fortune of Rs 8.08 lakh crore. The decline in Adani's wealth was caused by the allegations of Hindenburg Research, which Adani Group had denied.
Shiv Nadar and family of HCL gained one spot to be the third richest with a networth of Rs 3.14 lakh crore, besting Serum Institute of India's Cyrus Poonawalla who has been moved to the fourth position with a networth of Rs 2.89 lakh crore.
Sun Pharmaceuticals' Dilip Shanghvi is the fifth richest Indian.
Bollywood actor Shah Rukh Khan made his debut on the list with a fortune estimated at Rs 7,300 crore
Radha Vembu of Zoho was the wealthiest among self-made women with a fortune of Rs 47,500 crore, while Zepto's co-founders Kaivalya Vohra and Aadit Palicha, who are in their early 20s, were the youngest on the list with a networth of Rs 3,600 crore and Rs 4,300 crore, respectively.
The list, which captures Indians having a networth of over Rs 1,000 crore, has 1,539 names in it. The list saw as many as 220 individuals being added to it.