IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2021

(Mumbai, 16 October 2020) IIFL Wealth and Hurun India today released the IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2021, a ranking of the self-made entrepreneurs with a wealth of INR 1,000 Cr, aged forty years and under from India. Wealth calculations are a snapshot of 15th September 2021. This list follows on from the IIFL Wealth Hurun India Rich List 2021 released on 30 September 2021.

Yatin Shah, Co-Founder and Joint CEO of IIFL Wealth, which manages an AUM of ~US$38 billion, said, “The IIFL Wealth Hurun India 40 & Under Self-Made Rich List, 2021 endorses a transformation that we at IIFL Wealth have already been observing. The current economic landscape coupled with the power of technology and digital solutions has created an enabling environment for emerging entrepreneurs. While many young entrepreneurs are on their way to becoming unicorns, it is encouraging to see so many others who made successful exits and are now setting up investment funds to support innovative ideas and invest in other emerging entrepreneurs.”

Anas Rahman Junaid, Founder and MD, Hurun India said, “IIFL Wealth Hurun India 40 & Under Self- Made Rich List represents the hottest rising stars in business from India, and all of them have achieved the remarkable milestone of entering the IIFL Wealth Hurun India Rich List before the age of 40.”

“Number of Under 40 self-made entrepreneurs in the Rich List rose whopping 9 times in 5 years. I expect this list to quadruple to 200 entrants in the next 5 years.”, continued Anas Rahman Junaid, Founder and MD, Hurun India
The Top 10

The list includes the details of all the entrepreneurs featured in the IIFL Wealth Hurun India Rich List 2021, who are at or below the age of 40.

Table 1: The Top 10 in IIFL Wealth Hurun India 40 & Under Self-Made Rich List

Source: Hurun Research Institute, IIFL Wealth Hurun India Rich List 2021 For more details, visit www.hurunindia.net 

Where they live 

42 of the 45 entrepreneurs reside in India. India’s Silicon Valley, Bengaluru has the highest number of IIFL Wealth Hurun India Rich Listers aged under 40.

Table 2: Geographical distribution of IIFL Wealth Hurun India 40 & Under Self-Made Rich List

Source: Hurun Research Institute, IIFL Wealth Hurun India Rich List 2020

Industry-wise break up 

Software & Services and Transportation & Logistics are the major contributors of wealth for entrepreneurs under the age of 40.

Table 3: Top 5 Contributing Industries IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2021

Source: Hurun Research Institute, IIFL Wealth Hurun India Rich List 2021

IIFL Wealth Hurun India Rich List 2021 – Key Highlights

•  HURUN INDIA FINDS 1,007 INDIVIDUALS WITH INR 1,000 CR, UP BY 179, FIRST TIME TO BREAK THROUGH 1,000 MARK
• OVER THE LAST DECADE, IIFL WEALTH HURUN INDIA RICH LISTERS CUMULATIVELY ADDED INR 2020 CR PER DAY – THE FASTEST WEALTH CREATION IN INDIAN HISTORY!
• WITH INR 7,18,000 CR, MUKESH AMBANI,64, RETAINS RICHEST INDIAN TITLE FOR 10^TH YEAR RUNNING
• WITH INR 5,05,900 CR GAUTAM ADANI, 59, STORMS INTO NO.2 SPOT, ALMOST QUADRUPLING WEALTH FROM INR 1,40,200 CR. GAUTAM ADANI NOW SECOND RICHEST ASIAN AFTER AMBANI, OVERTAKING CHINA’S NUMBER ONE, BOTTLED WATER PRODUCER ZHONG SHANSHAN.
• 4 NEW FACES IN INDIA TOP TEN, LED BY STEEL MAGNATES LAKSHMI MITTAL (71) OF ARCELORMITTAL AND KUMAR MANGALAM BIRLA (54) OF ADITYA BIRLA GROUP, ON THE BACK OF RESURGENCE IN GLOBAL ECONOMY.
• JAY CHAUDHRY (62), OF CALIFORNIA-BASED ENTERPRISE CLOUD CYBER SECURITY FIRM ZSCALER, MADE INDIA TOP 10 FOR FIRST TIME, ON THE BACK OF ACCENTUATED DEMAND FOR CYBER SECURITY SERVICES CAUSED BY SERIES OF RANSOMWARE ATTACKS ON US INSTITUTIONS.
• 13 INDIVIDUALS WORTH INR 1 LAKH CR OR MORE, UP FROM FIVE ON LAST YEAR’S IIFL WEALTH HURUN INDIA RICH LIST
• 237 DOLLAR BILLIONAIRES, UP 58 ON LAST YEAR, AND 4 TIMES SINCE HURUN INDIA STARTED TEN YEARS AGO
• WITH 40 ENTREPRENEURS, PHARMACEUTICALS SECTOR MINTED THE MOST NUMBER OF DOLLAR BILLIONAIRES FOLLOWED BY CHEMICALS & PETROCHEMICALS (27) AND SOFTWARE & SERVICES WITH (22)
• 894 INCREASED THEIR WEALTH, OF WHICH 229 NEW FACES.
• 113 SAW THEIR WEALTH GO DOWN. 51 DROPOUTS. 6 PASSED AWAY
• A RECORD 659 ENTREPRENEURS OR 66% ARE SELF-MADE, UP FROM 530 LAST YEAR, AND UP FROM 54% FIVE YEARS AGO. 74% OF NEW FACES THIS YEAR ARE SELF-MADE.
• THIRD-GENERATION INHERITOR OF GODREJ SMITA V CRISHNA, 70, IS INDIA’S RICHEST WOMAN, WHILST ‘BIOTECH QUEEN’ KIRAN MAZUMDAR-SHAW, 68, IS THE RICHEST SELF-MADE INDIAN WOMAN
• CO-FOUNDER OF CONFLUENT, A STREAMING DATA TECHNOLOGY COMPANY, NEHA NARKHEDE AGED 36 IS YOUNGEST SELF-MADE WOMAN ENTREPRENEUR IN INDIA
• WITH 255 INDIVIDUALS, MUMBAI TOPS LIST FOLLOWED BY NEW DELHI (167) AND BENGALURU (85); MUMBAI ADDED 52. CHENNAI OVERTOOK AHMEDABAD TO 5^TH PLACE.
• 14 PROFESSIONAL MANAGERS MADE THE LIST. WITH INR 12,500 CR, RICHEST IS CALIFORNIA-BASED THOMAS KURIAN, 61, WHO ENCASHED HIS STAKE IN ORACLE; WITH INR 5,800 CR, IGNATIUS NAVIL NORONHA, 46, OF AVENUE SUPERMARTS IS RICHEST CEO BASED IN INDIA
• DROPOUTS OF THE DECADE: RICH LISTERS WHO FEATURED IN FIRST EDITION OF HURUN INDIA RICH LIST AND HAVE SINCE DROPPED OUT INCLUDE ANIL AMBANI (ADAG), VIJAY MALLYA (KINGFISHER), VENUGOPAL DHOOT (VIDEOCON), RANA KAPOOR (YES BANK), NIRAV MODI (FIRESTAR DIAMONDS), MEHUL CHOKSI (GEETHANJALI), AND MALVINDER AND SHIVINDER SINGH (RANBAXY)
• WITH AN INCREASE OF 293% JAYANT SHAMJI CHHEDA & FAMILY OF PRINCE PIPES & FITTINGS IS THE BIGGEST GAINER THIS YEAR FOLLOWED BY YADU HARI DALMIA & FAMILY (286%) OF DALMIA BHARAT, CEMENT MANUFACTURER AND RAJINDER GUPTA (272%) OF TRIDENT, A TEXTILE MANUFACTURER
• 46 FOUNDERS OF 26 UNICORNS MADE IIFL WEALTH HURUN INDIA RICH LIST 2021.
• 13 PEOPLE BORN IN 90S MADE THE LIST, ALL SELF-MADE. NEW DELHI-BASED SHASHVAT NAKRANI, 23, OF PAYMENT APP BHARATPE YOUNGEST SELF-MADE INDIVIDUAL
• 229 NEW FACES, WITH TOTAL OF INR 5,61,200 CR, OF WHICH CHEMICALS FASTEST GROWING INDUSTRY, ADDING
• 42 NEW FACES.
• 116 SAW WEALTH DOUBLE, LED BY 11 FROM TEXTILES AND 8 EACH FROM MINING AND HEALTHCARE.
• WITH 10 MILLION FOLLOWERS IN TWITTER, RATAN TATA IS THE MOST FOLLOWED ENTREPRENEUR FROM IIFL WEALTH HURUN INDIA RICH LIST ON INDIAN SOCIAL MEDIA, FOLLOWED BY ANAND MAHINDRA WITH 8.5 MILLION FOLLOWERS
• STAR SIGNS: CANCERS HAD A GREAT YEAR, ALMOST DOUBLING THEIR WEALTH, FOLLOWED BY GEMINIS, TAURUS AND PISCES. OVERALL, VIRGOS AND GEMINIS MADE BEST ENTREPRENEURS IN INDIA, LEADING THE WAY WITH 9% OF LIST EACH, FOLLOWED BY ARIES.
• WORLD’S LARGEST RICH LIST PROVIDER HURUN LAUNCHES 10^TH ANNIVERSARY EDITION OF HURUN INDIA RICH LIST, IN ASSOCIATION WITH IIFL WEALTH

Top 20: Top 15 IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2021. For the full list, refer www.hurunindia.net

Source: Hurun Research Institute; IIFL Wealth Hurun India Rich List 2021

Methodology

The IIFL Wealth Hurun India Rich List 2021 has been researched and compiled by the Hurun Research Institute for the tenth year running. The cut-off used was 15th September 2021 when the rate of exchange to the US dollar was INR 73.46. The list relates to Indians only, defined as born or brought up in India.

Valuing the wealth of India’s richest is as much an art as it is a science. Sure, Hurun Research has missed some, but our endeavor has been to develop the most comprehensive report of its kind with an objective to identify and acknowledge India’s top entrepreneurs and business owners. The source of wealth includes both inherited and self-made wealth. Hurun Report’s team of researchers have traveled the length and breadth of the country, cross- checking information with entrepreneurs, industry experts, journalists and investors.

Hurun Research only uses publicly-available data. For unlisted companies, Hurun Research’s valuation is based on the most recent investor round, as well as a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and First Chicago.