Introduction:
With the world economy rising after the global recession, the world continues to be digitized. With the ever-growing population and increasing demands in business, the wealthiest business people quickly adapt and use this to their advantage. India is the 4th largest country in economy and 3rd most prominent in the group of wealthiest men. This year Richest Men all emerged from technology and business industries, moving up the rank because of the increasing investments in digital and innovative companies. Here is the list of Top 12 Richest Men in India in 2023.
List Of Top 12 Richest Men in India in 2023:
Gautam Adani:
- Name: Gautam Shantilal Adani
- Occupation: Businessman, industrialist
- Years Active: 1981–present
Born in a Gujarati Jain family, Gautam Adani is the founding father of the Adani group, a Multinational Enterprise specializing in the Top 12 Richest Men in India port development and operations in India. They own a staggering $135.8 billion fortune. The largest port of Gujurat, The Mundra port, is managed by him.
The Adani group has shown interest in various fields, including real estate, commodities, infrastructure, and transmission. They also own a coaling mine project in Australia, Abbot Point. The Adani group purchased 74% of the stakes in Mumbai International.
Mukesh Ambani:
- Name: Mukesh Dhirubhai Ambani
- Occupation: Chairman and M.D., Reliance Industries
- Years Active: 1981–present
Mukesh Ambani is the Chairman of Reliance Industries, which is interested in petrochemicals, gas, oil, telecom, and retail, and has a net worth of $91 billion. Reliance’s introduction to the 4G phone in 2016 spikes a war in telecom prices resulting Top 12 Richest Men in India in the closure of several networks. As of 2023, Jio has over 420 million subscribers and has launched the 5G network across India by December 2022.
Reliance plans to fully fledge green energy by investing $80 million in the next 10-15 years in renewable energy. As of now, Akash Ambani is the now chairman of Reliance, Isha Ambani looks over the retail, and Anant Ambani has been inducted into the new energy business.
Shiv Nadar:
- Name: Shiv Nadar
- Occupation: Founder, HCL Technologies, SSN College of Engineering and Shiv Nadar University
- Years Active: 1967–present
Born in Moolaipozhi Village, Shiv Nadar is the I.T. pioneer of India. He cofounded HCL in 1976 along with his five friends to make calculators and microprocessors. Today HCL Technologies is ranked among India’s largest software service providers.
He has a revenue of $11.8 billion. In July 2020, he stepped down and handed over the chairman position of HCL to his daughter, Top 12 Richest Men in India Roshni Nadar Malhotra. Shiv Nadar is the acting chairman of emeritus and strategic advisor. He is one of the world’s leading philanthropists and has donated $1.1 billion to Shiv Nadar Foundation. HCL technologies have employed 169,000 people across 50 countries.
Cyrus Poonawalla:
- Name: Cyrus S. Poonawalla
- Occupation: Businessman, owner of Bilthoven Biologicals, Serum Institute of India, Poonawalla Fincorp
- Years Active: 1966 – present
Cyrus S. Poonawalla’s father was a horse breeder born to a Gujarati Paris family. He founded the Serum Institute of India in 1966 and grew it into the world’s largest vaccine maker in doses, and he has a net worth of 21.6 billion. The company Top 12 Richest Men in India produces over 1.5 billion vaccines annually, including measles, flu, and polio. The Serum invested $800 million to build a new factory to produce Covid-19 vaccines under his UK-educated son Adar.
The company mass-produced the vaccine Covishield, developed by AstraZeneca and Oxford University, and has multiple Covid-19 partnerships. Cyrus S. Poonawalla has a majority stake in the listed financial service firm Poonawalla Fincorp.
Radhakishan Damani:
- Name: Radhakishan Shivkishan Damani
- Occupation: Businessman, investor
- Years Active: 1900 – present
Born into the Maheshwari Marwari family, Radhakishan Damani is India’a retail king after his supermarket chain Avenue supermart IPO in the Top 12 Richest Men in India in March 2017 and has a revenue of $17.7 billion. Veteran Mumbai investor Damani started retailing in 2002 with a single store in suburban Mumbai.
Today he is the proud owner of 294 DMart across India. He holds stakes in various companies ranging from tobacco firm VST Industries to cement producer India Cements. 156-room Radisson Blu Resort in Alibaug is a popular beachfront getaway near Mumbai and a part of his property portfolio.
Savitri Jindal:
- Name: Savitri Devi Jindal
- Occupation: Chairperson of O.P. Jindal Group
- Years Active: 1900 – present
Born in Tinsukia, Assam, Savitri Jindal cofounded the Jindal Group and has a total wealth of $17.3 billion. The Jindal group’s interest includes steel, cement, power, and infrastructure. After the death of Om Prakash Jindal in a Top 12 Richest Men in India helicopter crash, her husband and co-founder of the Jindal group, the companies were divided among his four sons, who run them independently.
Sajjan Jindal, the Mumbai-based eldest son, runs JSW Steel, whereas Naveen Jindal, the Delhi-based youngest son, manages Jindal Steel & Power.
Dilip Shanghvi:
- Name: Dilip Shanghvi
- Occupation: Founder and M.D. of Sun Pharmaceuticals
- Years Active: 1982 – present
Hailing from a Jain family settled in Kolkata, Dilip Shanghvi is the son of a pharmaceutical distributor. He began Top 12 Richest Men in India Sun Pharmaceutical Industries in 1983 to make psychiatric drugs by borrowing $200 from his father and now has a net worth of $16.2 billion.
Sun Pharmaceutical is one of India’s most valuable listed pharma outfits. The company gets two-thirds of its $4.5 billion yearly revenue from oversea markets. The company has faced many acquisitions throughout its growth, the biggest of which was the 2014 purchase scandal.
Lakshmi Mittal:
- Name: Lakshmi Niwas Mittal
- Occupation: Chairman of ArcelorMittal & Aperam, Owner of Karrick Limited, Co-owner of Queens Park Rangers F.C.
- Years Active: 1976 – present
Born into a Hindu Marwadi family, Lakshmi Mittal is the chair of ArcelorMittal, has a revenue of $76.6 billion, and is the world’s most extensive mining and steel company by output. Mittal’s father owned Nippon Denro Ispat, a steel company. He Top 12 Richest Men in India, separated from his siblings and began his own steel company, Mittal Steel, and then later merged with France’s Arcelor in 2006.
Due to the increasing steel prices, Arcelor Mittal reported a net income of $9.3 billion in 2022, 38% lower than $15 billion in 2021. In 2021, Mittal stepped down as CEO to Executive manager, giving his son Aditya Mittal the CEO position.
Sunil Mittal:
- Name: Sunil Bharti Mittal
- Occupation: Founder & chairman Bharti Enterprises
- Years Active: 1976 – present
Born into an intercaste Agarwal-Khatri family, Sunil Mittal is a telecom tycoon. Airtel is one of the largest mobile networks in India, Top 12 Richest Men in India, having over 474 million subscribers. Airtel partnered with SingTel and competed with Mukesh Ambani’s Reliance Jio and Kumar Birla’s Vodafone Idea.
They also own Airtel payment banks, a joint venture with Kotak Mahindra bank partnered with fellow billionaire Uday Kotak. In January 2022, Google invested $1 billion in Bharti Airtel, of which $700 million was for a minority stake.
Kumar Birla:
- Name: Kumar Mangalam Birla
- Occupation: Chairman of the Aditya Birla Group
- Years Active: 1995 – present
Kumar Birla is the fourth generation member of the Birla Family and is the commodities king. The Aditya Birla group has a revenue of $60 billion; more than half of it is generated from overseas, with its presence in 36 counties. The group has the Top 12 Richest Men in India shown interest in cement, aluminum, telecom, and financial services. With his father’s death, Aditya Birla, Kumar Birla inherited the company at 28 in 1995.
In 2021 he stepped down as chairman of Vodafone Idea due to being debt-strapped in 2018 by the merger between Top 12 Richest Men in India Idea Cellular and Vodafone India. As of 2023, his daughter Ananya and son Aryaman joined the boards of Grasim and Aditya Birla Fashion and Retail.
Uday Kotak:
- Name: Uday Suresh Kotak
- Occupation: Founder, MD & CEO of Kotak Mahindra Bank
- Years Active: 1985 – present
Raised in an upper-middle-class Gujarati joint family, Uday Kotak’s family was into trading. He started a finance firm in 1985, and later Top 12 Richest Men in India converted it into a bank known as Kotak Mahindra Bank in 2003. Boosted by its acquisition of ING bank’s Indian operation in 2014, Kotak Mahindra bank is now listed in India’s top four banks in the private sector.
The company derived the Kotak 811 app from 8 November 2016, when the government canceled 86% of all rupees in circulation. Top 12 Richest Men in India Per the Reserve Bank of India, the company sold some of its shares in June 2020 to reduce its stakes. Jay Kotak, his son, a Harvard Business School grad, has been a part of the bank since 2017.
Kushal Pal Singh
- Owner: Kushal Pal Singh
- Occupation: Chairman and CEO, DLF Limited
- Years Active: 1961 – present
Kushal Pal Singh is an Indian real estate developer. He left an army posting to work along with his father-in-law in DL. Singh later built his showpiece township in Gurgaon, on the outskirts of Delhi, by purchasing land from farmers.
He sold a one-third stake in DLF’s rental arm to GIC, Singapore’s sovereign wealth fund, for $1.9 billion in 2017 and later launched a Top 12 Richest Men in India luxury residential project in Delhi with them. In June 2022, he stepped down as the chairman after over five decades.
Top 12 Richest Men in India With their Websites:
| S. No | Name | Website |
| 1 | Gautam Shantilal Adani | https://www.adani.com/ |
| 2 | Mukesh Dhirubhai Ambani | https://www.ril.com/ |
| 3 | Shiv Nadar | https://www.hcltech.com/ |
| 4 | Cyrus S. Poonawalla | https://www.cyruspoonawallagroup.com/ |
| 5 | Radhakishan Shivkishan Damani | https://www.dmart.in/ |
| 6 | Savitri Devi Jindal | https://www.jindalgroup.com/ |
| 7 | Dilip Shanghvi | https://sunpharma.com/ |
| 8 | Lakshmi Niwas Mittal | https://corporate.arcelormittal.com/ |
| 9 | Sunil Bharti Mittal | https://www.bharti.com/ |
| 10 | Kumar Mangalam Birla | https://www.adityabirla.com/ |
| 11 | Uday Suresh Kotak | https://www.kotak.com/ |
| 12 | Kushal Pal Singh | https://www.dlf.in/ |
Conclusion:
At the end of 2022, many statistics and data were collected, and Forbes released a list of the Top 12 Richest Men in India in 2023. Due to the pandemic, the net worth of India’s wealthiest people kept changing. India is home to some of the most affluent families in the world.
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