Falguni Nayar makes first appearance on Forbes 100 richest Indians list.Vijay Shekhar Sharma drops out

Falguni Nayar, chairman of Nykaa, entered rank 44 for the first time with a net worth of $4.08 billion. However, the most notable dropout was Vijay Shekhar Sharma who was Rank 92 with a net worth of $2.35 billion in 2021.Image: Falguni Nayar – Mexy Xavier. Vijay Shekhar Sharma – Amit Verma

aThe following year, another record was set by a member of Forbes’ 100 richest people in India list. The nation’s billionaire increased his collective fortune by $25 billion, worth a cumulative total of his record $800 billion. This wealth increase comes as businesses ride the wave of post-pandemic demand recovery, ignoring the depreciation of the rupee. His Falguni Nayar, the chairman of Nykaa, has entered rank 44 for the first time with a net worth of $4.08 billion. However, the most notable dropout was Vijay Shekhar Sharma, who was Rank 92 with his $2.35 billion net worth in 2021.

India’s recovery in post-pandemic demand has pushed the economy to overtake the UK to become the fifth largest in the world.

Gautam Adani, chairman of Adani Group, doubled his net worth to $150 billion this year, making him India’s richest person in 2022. Net worth has dropped from his $92.7 billion last year to his $88 billion.

There was some shuffling in the top 10 spots on the list. Savitri Jindal and his family rose to rank 6 ($16.4 billion). Dilip Shanghvi and his family (#7, $15.5 billion), the Hinduja Brothers (#8, $15.2 billion) and the Bajaj family (#10, $14.6 billion) made it into the top 10 clubs. Uday Kotak, CEO of Kotak Mahindra Bank, was No. 8 last year, but now he is No. 12 ($14.3 billion). Also Read: 49-Year-Old Entrepreneur, 58-Year-Old Billionaire: How Falguni Nayar Succeeded With Nykaa

This year we have nine newcomers, including three from IPOs. Falguni Nayar (No. 44, $4.08 billion) is a former banker who became India’s richest woman after taking beauty and fashion retailer Nykaa public. Ethnic clothing retailer Ravi Modi (No. 50, $3.75 billion) and shoe maker Rafik Malik (No. 89, $2.22 billion) went public with her Metro-Her brands last December.

Vijay Shekhar Sharma, once a frontrunner in India’s fintech revolution, saw shares in his One97 Communications, parent company of fintech Paytm, fall amid a global technology crash.

“India’s post-pandemic recovery story is one of the opportunities created by the rebound in domestic demand amid challenges from external factors. The addition of many newcomers to the people is emblematic of the country’s entrepreneurial spirit.Also Read: Dasari Uday Kumar Reddy — Billionaire Founder Vows to 4:00 AM

Three prominent list members passed away this year. His Rakesh Jhunjhunwala, often called India’s Warren Buffett, died shortly after launching new airline Akasa Air in August, leaving his wife Rekha Jhunjhunwala (#30, $5.9 billion) on the list. . Palongi his Mistry died in his June and in September his son Silas Mistry (54) died in a car accident leaving the patriarch’s eldest son Shapur Mistry (No. 13) a commander of the construction industry. took His family’s $14.2 billion fortune.

Among the four returning to the ranks is Anand Mahindra (No. 91, $2.2 billion). His Mahindra & Mahindra made headlines by launching an electric SUV. The list of gainers outnumbered his 60, the majority whose wealth fell from a year ago.

The minimum amount required to make the list this year is $1.9 billion, which is close to last year’s $1.94 billion.

Here are the top 10 richest people in India.

1) Gautam Adani; $150 billion
2) Mukesh Ambani; $88 billion
3) Radakishan Damani: $27.6 billion
4) Cyrus Poonawalla; $21.5 billion
5) Shiv Nadar; $21.4 billion
6) Savitri Jindal. $16.4 billion
7) Dilip Shambi; $15.5 billion
8) Hinduja brothers. $15.2 billion
9) Kumar Birla; $15 billion
10) Bajaji family; $14.6 billion See full list here – www.forbes.com/india

methodology

The list was compiled using shareholding and financial information obtained from family members and individuals, stock exchanges, analysts and Indian regulators. The ranking lists family properties, including those shared between large families such as the Bajaji and Godrej families. Public wealth was calculated based on stock prices and exchange rates as of September 23. Privately held companies were evaluated based on comparable publicly traded companies. The list may also include foreign nationals who have business, residence, or other ties with the country, or citizens who do not reside in the country but have significant business or other ties with the country.Disclaimer: Reliance Industries owns Network 18, publisher of Forbes India.