Hurun Report India and IIFL Wealth unveiled the 2021 edition of ‘IIFL Wealth Hurun India Rich List 2021’ – a compilation of the richest individuals in India having a wealth of INR 1,000 Cr or more. Hurun Report India and IIFL Wealth today launched a further analysis of the richest from West Bengal in the IIFL Wealth Hurun India Rich List 2021.Wealth calculations are a snapshot of 15thSeptember 2021.
The cumulative wealth of individuals in the West Bengal list registered a 57% increase compared to last year.
“Our country has emerged significantly stronger from the much critical pandemic situation. While the challenges were aplenty, the optimism of a fast recovery, has taken our indices to new highs in recent times. It is in these optimistic times, that we, at IIFL Wealth are proud to associate with Hurun India Rich List 2021. Being a wealth manager of choice, this report is not merely a compendium of wealthy business owners and professionals – but a reflection of how and where wealth creators are expanding their wealth. ” saysAnirudhaTaparia, Joint CEO of IIFL Wealth, which manages an AUM of US$ 38 billion.
Commenting on the launch, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said,
“21 times in 10 years. The number of entrants in IIFL Wealth HurunWest Bengal Rich List has grown from just under 3 ten years ago to37 today.At this rate, in 5 years, I expect the list to grow to 100 individuals.The evolution of the IIFL HurunWest Bengal Rich List is a reflection of the entrepreneurial spirit of the Telugu community.”
“The Hurun’s 10th year anniversary logo is inspired by the Sanskrit word “Veerya”, meaning energy. Much of India’s economic success is driven by the energy and resilience of entrepreneurs, who stood the test of time. Be it getting the better of the Global Financial Crisis, Demonetisation or the various waves of Covid-19, Indian entrepreneurs will be the major catalyst in India’s growth story towards achieving the US$5tn GDP target.”
“At a national level, with wealth creation transforming from a test match to a lightning 20-20, India is witnessing the fastest wealth creation pace in its history. IIFL Wealth Hurun India Rich Listers added INR 2,020 Cr each day for the past 10 years. At this rate, I expect India to add another 250 billionaires over the next five years and rival the USA in terms of number of billionaires within ten years.”
Top 5 Individuals
Table 1: The Top 5 from West Bengal inIIFL Wealth HurunIndia Rich List 2021
|Rank||Name||Wealth INR Cr||Change %||Company||City of Residence|
|1||Benu Gopal Bangur& family||73,100||48%||Shree Cement||Kolkata|
|2||Sanjiv Goenka& family||24,800||42%||CESC||Kolkata|
|3||Sunil Kumar Patwari, Sanjib Kumar Patwari, Sanjay Kumar Patwari& family||17,400||76%||Rashmi Cements||Kolkata
|4||Radhe ShyamGoenka& family||9,900||46%||Emami||Kolkata|
|4||Radhe Shyam Agarwal & family||9,900||46%||Emami||Kolkata|
Source: Hurun Research Institute; IIFL Wealth Hurun India Rich List 2021
In terms of number of individuals in the list, Metals & Mining sector accounts for 16% of the richest in West Bengal, followed by Textiles, Apparels & Accessories andIndustrial Products with 13% each.
Table 2: Top 5 Contributing Industries
|Rank||Industry||Number of Individuals||Richest Individual||Wealth (INR Cr)|
|1||Metals & Mining||6||Sanjay Kumar Patwari, Sanjib Kumar Patwari, Sunil Kumar Patwari& family||17,400|
|2||Textiles, Apparels & Accessories||5||Pradip Kumar Todi, Ashok Kumar Todi& family||7,000|
|2||Industrial Products||5||Gaurav Swarup, Vikram Swarup& family||5,200|
|4||Construction Materials||3||Sanjay Agarwal||3,200|
|4||Food & Beverages||3||Dipankar Chatterjee||4,500|
Radhe Shyam Agarwal
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 2,020 CR PER DAY– THE FASTEST WEALTH CREATION IN INDIAN HISTORY!
WITH INR 7,18,000 CR, MUKESH AMBANI,64, RETAINS RICHEST INDIAN TITLE FOR 10TH 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.
13INDIVIDUALS 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 5TH 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 ISRICHEST CEO BASED IN INDIA
DROP OUTS 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
229NEW 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 8.5MILLION 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.
Top 10: IIFL Wealth HurunWest Bengal Rich List 2021. For the full list, referwww.hurunindia.net
|1||Benu Gopal Bangur& family||73,100||Shree Cement||Cement & Cement Products|
|2||Sanjiv Goenka& family||24,800||CESC||Services|
|3||Sanjay Kumar Patwari, Sanjib Kumar Patwari, Sunil Kumar Patwari& family||17,400||Rashmi Cements||Metals & Mining|
|4||Radhe ShyamGoenka& family||9,900||Emami||FMCG|
|4||Radhe Shyam Agarwal & family||9,900||Emami||FMCG|
|6||Pradip Kumar Todi, Ashok Kumar Todi& family||7,000||Lux Industries||Textiles, Apparels & Accessories|
|7||Mahabir Prasad Agarwal||6,900||ShyamMetalics& Energy||Metals & Mining|
|8||Ravi Modi||6,800||Vedant Fashions||Textiles, Apparels & Accessories|
|9||Gaurav Swarup, Vikram Swarup& family||5,200||Paharpur Cooling Towers||Industrial Products|
|10||Bajrang Lal Kheruka& family||4,600||Borosil||Consumer Durables|
Source: Hurun Research Institute; IIFL Wealth Hurun India Rich List 2021.
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.