India has solidified its position as a powerhouse in the global billionaire landscape, securing the third spot worldwide for the highest number of billionaires with 284 individuals listed in the latest Hurun Global Rich List 2025. This year, the country saw the addition of 13 new billionaires, bringing the collective wealth of Indian billionaires to an astonishing ₹98 trillion, nearly one-third of the nation’s GDP and surpassing the entire GDP of Saudi Arabia.
Despite a significant decline in his fortune, Mukesh Ambani, chairman of Reliance Industries, remains the richest person in Asia with a net worth of ₹8.6 trillion, although this marks a drop of ₹1 trillion from last year. This decline is attributed largely to rising debt levels. Meanwhile, Gautam Adani, the head of Adani Group, has witnessed a 13% increase in his wealth, bringing his net worth to ₹8.4 trillion, thereby closing the gap between the two tycoons.
According to the Hurun report released on March 27, 2025, Ambani's significant fortune drop has resulted in his exit from the top 10 wealthiest individuals globally. This is a notable shift as he has long been a staple in that elite group. The report also highlights that while many Indian billionaires experienced wealth fluctuations, 175 individuals saw an increase in their fortunes, while 109 faced stagnation or declines.
Mumbai continues to be the hub for billionaires in India, hosting 90 of the 284 billionaires. However, the city has lost its title as Asia’s billionaire capital to Shanghai, which now boasts 92 billionaires, followed closely by Beijing with 91. Despite this, Mumbai added 11 new billionaires this year, outperforming global cities like London and Beijing, which saw 7 and 8 new entrants respectively.
Among the notable figures in the billionaire rankings is Roshni Nadar, chairperson of HCL Technologies, who has made history by becoming the fifth richest woman in the world. Her net worth stands at ₹3.5 trillion after inheriting a 47% stake in HCL from her father, Shiv Nadar. This achievement marks her as the first Indian woman to break into the global top 10 wealthiest women, showcasing a significant milestone for women in business.
Globally, the wealth rankings are led by Elon Musk, the CEO of Tesla and SpaceX, whose fortune has surged by an impressive 82% to $420 billion, largely driven by the rising stock value of Tesla. Musk's wealth continues to set the benchmark for billionaires worldwide, illustrating the volatile nature of wealth in the tech industry.
The Hurun Global Rich List 2025 underscores the resilience of Indian billionaires, who collectively saw a 10% increase in their wealth this year, outperforming their Chinese counterparts, who experienced a 9% rise, but trailing behind the United States, where billionaires saw a staggering 27% increase in wealth. The average net worth of an Indian billionaire is now ₹34,514 crore, surpassing that of Chinese billionaires, who average ₹29,027 crore.
In terms of sector representation, healthcare leads the pack with 53 billionaires, followed by consumer goods with 35, and industrial products with 32. This diversity in wealth sources illustrates the broad spectrum of industries contributing to the billionaire class in India.
Interestingly, the youngest billionaires in India are Shashank Kumar and Harshil Mathur, both co-founders of Razorpay, who have made headlines at the age of just 34. Their rise to billionaire status reflects the growing trend of young entrepreneurs making significant impacts in the tech sector.
As India continues to navigate economic challenges, the billionaire landscape remains a testament to the country's potential for wealth creation and innovation. With the addition of new billionaires and the resilience shown by existing ones, India is poised to maintain its status as a significant player in the global economy.
The Hurun report serves as a vivid snapshot of wealth distribution in India and across the globe, highlighting the dynamic nature of wealth among the richest individuals. As new entrants emerge and existing billionaires adapt to changing economic conditions, the future of wealth in India remains an intriguing narrative to follow.
