Today Hurun Report released the Hurun Global Rich List India, a list of the richest people in India featuring in the Hurun Global rich list with a cut-off of US$1bn. This is the 6th year of the list, which has become a benchmark for the private sector.
Key highlights
- Mukesh Ambani, 59 (Global Rank: 28): With a fortune of INR 175,400CR (US$26bn), oil and telecom mogul and the chairman of Reliance, Mukesh Ambani, topped the list of 132 individuals.
- The top performing sector is pharmaceutical with 21 billionaires out of 132 billionaires from the list followed by Manufacturing and TMT. Other industries that had a good year include Consumer Products, Automobile and Real estate.
- New entrants to the list include Patanjali’s Acharya Balakrishnan and Paytm’s VSS.
- Since Demonetization, India lost 11 Billionaires.
- Flipkart’s Bansals are out (VSS is in!)
- Avg age is 64; 123 men and 9 women.
- 64% are first generational entrepreneurs.
Table 2: Geographical spread of Indian Billionaires in Hurun Global Rich List 2017
| Rank | Global Rank | City of Residence | No of billionaires | Total wealth (INR CR) |
| 1 | 8 | Mumbai | 42 | 10,76,375 |
| 2 | 21 | New Delhi | 21 | 358,338 |
| 3 | 44 | Ahmedabad | 9 | 97,419 |
| 3 | 24 | Dubai | 9 | 118,119 |
| 4 | 48 | Bangalore | 8 | 188,706 |
Source: Hurun Global Rich list; Hurun India Rich list
Table 3: Industry wise Billionaire segregation of Indian Billionaires
| Indian Rank | Global Rank | Industry | No of Billionaire | Total networth INR CR |
| 1 | 9 | Pharmaceuticals | 21 | 449,686 (US$66bn) |
| 2 | 2 | Manufacturing | 13 | 252,016 (US$37bn) |
| 2 | 1 | TMT | 13 | 347,907 (US$51bn) |
| 4 | 14 | Consumer Products | 10 | 176,510 (US$26bn) |
| 5 | 3 | Real Estate | 9 | 164,282 (US$24bn) |
| 5 | 12 | Automobile | 9 | 131,981 (US$19bn) |
| 7 | 5 | Retail | 7 | 122,152 (US$18bn) |
| 7 | 18 | Consumer Electronics | 7 | 100,144 (US$15bn) |
Methodology
This is what Hurun has to say about the methodology followed.
Our team of researchers has – for the sixth year running – traveled the length and breadth of the country cross-checking information with entrepreneurs, industry experts, journalists, bankers, and regulators, as well as previous years’ databases. For non-listed companies our valuation was based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to Sales, EV to EBITDA and also other methodologies including Discounted Cash Flow, Tobin’s Q and so on. In certain cases of early stage companies, we have used First Chicago Method for valuation.
