6. Shiv Nadar
As the chairman of HCL Technologies, Navar is a tech entrepreneur with a net worth of $14.6 billion, presiding over a company that makes $7.5 billion in revenue and is also India’s fourth-largest software services provider. Founding HCL from his garage in 1976, with a focus on microprocessors, Nadar is self-made all the way.
As the chairman of HCL Technologies, Navar is a tech entrepreneur with a net worth of $14.6 billion, presiding over a company that makes $7.5 billion in revenue and is also India’s fourth-largest software services provider. Founding HCL from his garage in 1976, with a focus on microprocessors, Nadar is self-made all the way.
He’s also an example of an astute businessman who knows when it’s time to diversify his assets. HCL invested some $780 million into a partnership with IBM over intellectual property. Nadar, like Premji appears to be a pretty decent guy and recognized as a leading philanthropist in India, setting up the Shiv Nadar Foundationdedicated to education.
The only thing that Nadar and plenty of India’s other self-made iT millionaires have been accused of is crony capitalism on more than one occasion. Silicon Valley investors would have no idea what that looks like.7. The Godrej Family
Another family to make the richest people in India list is the Godrej family with a combined net worth of $14 billion. They run the family business the Godrej Group, a century-old consumer goods giant that racks up $4.6 billion in revenue.
The mega-rich family also owns a vast parcel of land in suburban Mumbai, which is thought to be their biggest asset. When it comes to corruption or scandal, this family’s managed to keep its noses clean.
They were also part of the group writing the open letter to the Indian government raising their concern over corruption. But, they’ve also been accused of crony capitalism and keeping the wealth in the same tight circles.
8. Dilip Shanghvi
With an estimated net worth of $12.6 billion, Dilip Shanghvi is one of the richest people in India. Coming from humble beginnings, Shanghvi borrowed $200 from his father, a pharma distributor, to set up Sun Pharmaceutical Industries in 1983 with a focus on psychiatric drugs.
With an estimated net worth of $12.6 billion, Dilip Shanghvi is one of the richest people in India. Coming from humble beginnings, Shanghvi borrowed $200 from his father, a pharma distributor, to set up Sun Pharmaceutical Industries in 1983 with a focus on psychiatric drugs.
Today, Shanghvi’s company is the world’s fourth largest producer of specialty generics. It’s also India’s most valuable pharma operation with revenues this year surpassing $3.5 billion. This astute billionaire grew his empire through a series of acquisitions including rival Ranbaxy Laboratories for $4 billion in 2014.
While he’s still India’s 8th richest, not so long ago he held the top spot, losing $14 billion in just two years after shares in Sun Pharma plummeted by more than 50%. On a personal level, Shanghvi seems a pretty decent guy, often called humble by the Indian press. He also invests in renewable energy and, presumably to hedge his bets, oil, and gas as well.
9. Kumar Birla
With a net worth of $12.5 billion, Birla is a is the true king of commodities and is the fourth generation to run the Aditya Birla Group, with eyewatering revenues of $44.3 billion. Aditya Birla Group’s interests are far-reaching and cover commodities like aluminum and cement, as well as telecom and financial services.
With a net worth of $12.5 billion, Birla is a is the true king of commodities and is the fourth generation to run the Aditya Birla Group, with eyewatering revenues of $44.3 billion. Aditya Birla Group’s interests are far-reaching and cover commodities like aluminum and cement, as well as telecom and financial services.
Inheriting the family empire at the tender age of 28, Birla has been used to owning wealth. He’s also had plenty of years running a business hands-on, acquiring US aluminum producer Aleris this July for $2.6 billion and merging his Idea Cellular with Vodafone India to become Vodafone Idea, in August, now India’s largest telecom firm.
This Indian business tycoon has been implicated in his fair share of scandals and corruption charges. The latest of which involved an alleged payment to Indian Prime Minister Modi in 2016. He unsurprisingly claimed to be unaware of this.
10. Gautam Adani
Currently coming in 10th in the richest people in India list is Gautam Adani with a net worth of $11.9 billion. Adani isn’t into technology or pharma. Instead, he controls the Mundra Port, which is India’s largest in his home state Gujarat.
Currently coming in 10th in the richest people in India list is Gautam Adani with a net worth of $11.9 billion. Adani isn’t into technology or pharma. Instead, he controls the Mundra Port, which is India’s largest in his home state Gujarat.
Besides having dominion over the ports, the Adani Group’s interests stretch to real estate, commodities, and power generation. Some of this billionaire’s most notable assets include Australia’s Abbott Point port and the Carmichael coal mine, the biggest in the world.
A little digging into the operations of the Adani group and you’ll find corruption charges abound, as well as plenty of accusations of paying off government officials, including Indian Prime Minister Modi. He’s also been accused of using tax havens to shelter his money and the Carmichael acquisition was shrouded in controversy.
The Richest People in India
So, there you have it, the top 10 of the richest people in India. From buying up politicians to payrolling key decisionmakers, it’s pretty clear that getting other people in your pocket is helpful when growing an empire.
That said, the findings are not all bad, with plenty of India’s richest people also giving back to the community. And as for crony capitalism? Well, the gentleman’s club is a pretty global phenomenon. It would be disappointing if India wasn’t a paid-up member as well.
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