India’s economy has been on a strong upward trajectory, creating substantial wealth and delivering double-digit returns for many of the country’s leading business magnates. While some did face setbacks, the majority capitalized on the market’s positive trend, according to a report by ET Now.
Key Wealth Builders in 2024
According to the report, Sunil Mittal, Chairman of Bharti Enterprises, saw his fortune rise to new heights in 2024, with his net worth reaching $26 billion (Rs 2.14 lakh crore). This figure represents a remarkable increase of $10.3 billion (Rs 84,975 crore) in a single year. The impressive rise in Mittal’s wealth is largely due to the ongoing expansion of Bharti Airtel, one of India’s largest telecommunications companies. With the nation’s digital transformation underway, Bharti Airtel has managed to secure a significant portion of the market.
Investments in 5G technology, strategic partnerships, and acquisitions have all played a part in Bharti Airtel’s rapid growth, resulting in substantial returns for its shareholders. Mittal’s success not only showcases the increasing demand for digital connectivity in India but also highlights the adaptability of the market, showing how new and existing players can find opportunities to thrive.
Another leading figure, Dilip Shanghvi, founder of Sun Pharma, saw his wealth rise significantly due to his company’s robust market performance. The report highlights that Shanghvi’s net worth climbed to $31 billion (Rs 2.55 lakh crore), reflecting a gain of $9.7 billion (Rs 80,025 crore) this year. Sun Pharma, as one of India’s largest pharmaceutical companies, has continued to thrive amid rising healthcare demands, benefiting from both domestic and international growth.
Similarly, industrialist Gautam Adani experienced a strong recovery in 2024 after facing several financial challenges the previous year. In 2024, Adani managed to add $8.7 billion (Rs 71,775 crore) to his net worth. This recovery signifies Adani’s resilience and ability to navigate through economic hardships while staying focused on the long-term growth of the Adani Group, which has diversified interests across sectors like infrastructure, energy, and ports.
Shiv Nadar, the founder of HCL Technologies, also saw considerable growth. His fortune rose by $8 billion, equivalent to Rs 66,000 crore. As one of India’s leading tech companies, HCL Technologies has benefited from the surge in demand for IT services and digital transformation solutions worldwide, contributing to Nadar’s wealth increase.
Meanwhile, Mukesh Ambani, Chairman of Reliance Industries, achieved the milestone of a $100 billion net worth, estimated at approximately Rs 8.25 lakh crore. Ambani added $5 billion (about Rs 41,250 crore) to his wealth this year, continuing his steady ascent among India’s wealthiest. His wealth surge reflects Reliance’s significant investments in digital and retail segments, areas that have been central to the company’s strategy in recent years.
India’s economic growth is creating an environment where business leaders are reaping substantial returns, spurred by developments across sectors like digital infrastructure, healthcare, and technology. The success of these entrepreneurs not only exemplifies the country’s economic momentum but also underscores the transformative potential of strategic innovation and market adaptation.
