Niraj Bajaj and his family topped the list with a net worth of Rs 127,000 crore, an increase of 7% in a year.
The auto and auto parts industry has added 16 new entrants to the Hurun India Rich List 2023. The industry’s total wealth has increased by 24% in the past year, driven by strong exports and a recovery in domestic demand.
The Niraj Bajaj and Bajaj Auto family has assets of Rs 1,27,000 crore, which has increased by 7% in a year. Vikram Lal and the Eicher Motors family retained the second position with a wealth of Rs 54,500 crore, while Anand Mahindra and the Mahindra & Mahindra family secured the third position with a wealth of Rs 45,000 crore.
Vivek Chaand Sehgal of Samvardhana Motherson International and his family are in fourth place with assets of Rs 37,000 crore, while Arvindkumar Poddar and his family, who owns Balkrishna Industries, are in fifth place with assets of Rs 27,500 crore. ing.
Hurun India and 360 ONE Wealth have announced the 360 ONE Wealth Hurun India Rich List 2023. This is his 12th annual ranking of India’s richest individuals. Asset calculations are a snapshot as of August 30, 2023. Cumulative assets increased by 8.5%, while average assets decreased by 9.3%.
Yatin Shah, co-founder and co-CEO, said, “Currently, 1,319 people hold more than Rs 1 billion, witnessing an incredible surge of 76% in the last five years. .The cumulative assets of our listers have surged to Rs 109 crore,” he said. This is more than the GDP of Singapore, UAE and Saudi Arabia combined.
Referring to startups in general and the funding winter, Shah said that the funding winter is over. “The funding winter has ended with companies having break-even issues with cash flow. There is plenty of investor interest for reasonable valuations,” Shah said.
Commenting on manufacturing, Anirudh Taparia, co-founder and co-CEO of 360 ONE Wealth, said, “A lot of money has been flowing to the manufacturing side for the past 10 years. “Looking at the situation, tough negotiations with China are continuing.” One. ”
“India has never experienced a phase like this, where $1 trillion goes through a generational change.More and more family businesses are professionalizing.The old trend of going into a family business is no longer the only option. Not,” Anas Rahman said. Dr. Junaid, Principal Investigator. Hurun of India.
According to the report, 344 people on the list are second-generation, led by 66-year-old Mukesh Ambani. Sixty-four billionaires are third generation, and 15 on the list are fourth generation. The 12 entrepreneurs belong to his fifth generation of the family and head the family business.
