For hundreds and thousands across 2020 may have been a nightmare, but for some business biggies it has turned out to be nothing short of a dream run.
We are talking of our very own Indian billionaires who marched ahead and managed to add about USD 64 billion to their wealth kitty. As on December 11, the amalgamated wealth of these select club of billionaires was close to the $200 billion mark as per industry estimates.
Let us meet 5 biggest wealth creators from India face to face:
Adani Group Chairman Gautam Adani saw the maximum wealth addition among all the richest Indians in 2020. He even dislodged Asia’s richest man and Reliance Industries Chairman Mukesh Ambani in wealth addition.
As per Bloomberg Billionaire Index, Adani’s wealth surged by $19.1 billion this year, bigger than $16.4 billion added by Mukesh Ambani in 2020 till end November. Adani reportedly added Rs 1.41 lakh crore to his wealth in the first 10-and-half months of 2020 alone which nearly translates to about Rs 449 crore per day.
Experts say the rise in the share prices of Adani Green, Adani Enterprises, Adani Gas and Adani Transmission has translated to the surge in Adani’s wealth this year.
Adani is the world’s ninth-biggest wealth creator, ahead of Steve Ballmer, Larry Page and Bill Gates.
Still the richest man in Asia, Reliance Industries Chairman Mukesh Ambani however is no longer among the 10 richest people in the world following the correction of shares of his company over the last few months. Ambani has now dropped down to eleventh position in the Bloomberg Billionaires Index, from the fourth position which he attained earlier this year.
The Bloomberg list pegs Ambani’s wealth at $76.5 billion (over Rs 5.63 lakh crore), down from $90 billion (around Rs 6.62 crore) earlier this year.
A look back in time will show how Indian IT pioneer Shiv Nadar cofounded HCL in a garage in 1976 to make calculators and microprocessors.
Today, he chairs HCL Technologies, a $9.9 billion (revenue) company, which incidentally is India’s third-largest software services provider by market cap. As per estimates, his fortunes stood at $22 billion, up $6.29 billion year-to-date.
Despite his net worth dropping since last year due to a dip in HCL Technologies share prices, he is among world’s richest people in technology. A leading philanthropist, Nadar donated $662 million to his Shiv Nadar Foundation, which supports education-related causes.
With a wealth of Rs 1,43,700 crore, Hinduja brothers continued to figure prominently in the list of prominent wealth creators in India.
This despite a 23 per cent drop in their valuation during this year which can possibly be attributed to lackluster performance of their flagship companies – IndusInd Bank, Gulf Oil and GOCL Corporation Ltd.
Chairman of Pune-based Serum Institute of India, the world’s biggest vaccine manufacturer, Cyrus Poonawalla is often referred to as the vaccine king of India.
Serum Institute’s revenue stood at 59 billion rupees ($840 million) in the year ended March 31, 2020. Poonawalla on his part has seen his fortunes soar by $6.91 billion to $15.6 billion.
Serum Institute is manufacturing COVID-19 vaccine in India in conjunction with AstraZeneca and Oxford University.
Having given up his studies in Stanford in 1966 to look after his family’s cooking oil business, tech magnate Azim Premji’s wealth is now estimated to be around $8.3 billion (revenue). He expanded his family business to software after his father’s death.
The company he founded – Wipro – is India’s fourth-largest outsourcer by market cap. In July 2019, Premji’s son Rishad, succeeded his father as Wipro’s executive chairman.
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