In a remarkable turn, the count of billionaire promoters in India Inc’s listed firms reached a record high of 152 in 2023, marking a 21% increase from the previous year, as reported by Business Standard. The combined net worth of these promoters also experienced a significant uptick of 16%, reaching $858.3 billion, compared to $739 billion in 2022.
While Mukesh Ambani’s net worth rose by 4.7% to $112.5 billion in 2023, Gautam Adani faced a decline of 28.7%, settling at $106.63 billion. The top two richest individuals in India collectively accounted for 25.5% of the combined net worth of all billionaire promoters in 2023, down from their 34.8% share in 2022.
Shiv Nadar of HCL Tech surpassed Radhakishan Damani, becoming India’s third richest person with a net worth of $29.3 billion, showcasing a substantial 34.9% rise from 2022. Other notable entries and exits, coupled with the IPO boom, contributed to the dynamic changes observed in the billionaire promoters’ landscape.
