Mukesh Ambani, who managed to make Rs 90 crore every hour since the Coronavirus lockdown in March this year, has retained his position as the richest Indian man for the ninth time consecutively on the IIFL Wealth Hurun India Rich List 2020.
Mr Ambani is also the only Indian among the world’s top richest people and has made money through a series of strategic fund-raising investments from Facebook, Google, Silver Lake among others into Jio and Reliance Retail, and now, his personal wealth is a whopping Rs 6,58,400 crore.
According to reports, Mukesh Ambani’s total wealth is now bigger than the combined wealth of the next five people on the list which also makes him the richest individual in Asia and the fourth richest man in the world. Next on the list are the Hinduja Brothers who are followed by Shiv Nadar and Gautam Adani.
The IIFL Hurun list only names people who have a total net worth of Rs 1000 crore or more. This year, the list has around 828 Indians and around 162 new people on the list.
Hurun India, Anas Rahman Junaid (MD and Chief Researcher) said: “28 per cent of the upswing in wealth on the list has been bestowed by Mukesh Ambani, bespeaking Ambani’s meteoric success post diversifying from oil to telecom and retail. A further 21 per cent of the additional wealth has been generated by pharma, mainly on the back of the rise in healthcare spends and a realigned priority towards personal healthcare stimulated by the Covid-19.”
He also added, “With rising new wealth creators such as innovative startups, family businesses with strong professional management, investors who believe in the India story, and a demographic advantage that is inferior to none, India’s wealth creation story is still yet to reach the half-way mark.”
Also, nearly 5% of the people on the list are women and ten women out of them are self-made.