8 Malayalis among Forbes list of wealthiest billionaires; LuLu Yusuff Ali tops with $5.4 billion

21-year-old Kaivalya Vohra and 22-year-old Aadit Palicha of quick-commerce startup Zepto with net worth of Rs 3,600 crore and Rs 4,300 crore respectively have topped the 2024 Hurun India Rich List showcasing the youngest entrepreneurs in the country. 

The list, released on Thursday, had SG Finserve’s Rohan Gupta & Family, 25, on the third spot with a wealth of Rs 1,300 crore followed by 26-year-old Shasvat Nakrani of BharatPe (Rs 1,300 crore). 

OYO’s Ritesh Agarwal, 30, with a net worth of Rs 1,900 core; Alakh Pandey, 32, of Physics Wallah with Rs 4,500 crore in wealth were also on the list. Razorpay’s Harshil Mathur and Shashank Kumar, both 33, were the richest in the ‘Hurun India Rich List – Youngest’ with each having a net worth of Rs 8,700 crore. 

“These individuals are driving change across various industries, reflecting the growing impact of India’s youth in business,” the report said. 

52 entrepreneurs on this year’s list were founders of 29 unicorns and two founders of gazelles, defined as most likely to ‘go unicorn’ within two years. Moreover, the cumulative wealth of Indian unicorn and gazelle listers on the rich list increased by 5 per cent to Rs 2.85 lakh crore. 

Meanwhile, this year’s list reported India’s billionaire count hitting 334, topped by Gautam Adani and family with 95 per cent growth in wealth to Rs 11.6 lakh crore followed by Rs 10.14 lakh crore net worth of Mukesh Ambani and family, Rs 3.14 lakh crore of Shiv Nadar and family, Rs 2.89 lakh crore of Cyrus S Poonawalla and family, and Rs 2.49 lakh crore of Sun Pharmaceutical Industries’ Dilip Sanghvi. 

“India is emerging as Asia’s wealth creation engine! While China saw a 25% decline in its number of billionaires, India experienced a 29% increase, reaching a record 334 billionaires,” said Anas Rahman Junaid, Founder and Chief Researcher, Hurun India. 

The list found 1,539 individuals across 134 cities with a net worth of Rs 1,000 crore. The cumulative wealth of individuals, according to the list, jumped by 46 per cent. Moreover, 1,334 individuals saw their wealth increase or stay the same, of which 272 are new entrants, while 205 recorded a drop in their wealth. 

The report said India minted a new billionaire every five days last year.

Sector-wise, industrial products had 142 individuals from the list while pharmaceuticals had 136 individuals. Chemicals, software, and real estate were other top sectors with 127, 105, and 91 rich individuals from this year’s list. 

“The pivot in the Indian economy from a services-led to a manufacturing-led model is reflected in the 2024 Hurun India Rich List. Industrial products sector entrepreneurs on the list have seen a remarkable 47% CAGR in their cumulative wealth over the past five years—the highest among all sectors,” said Junaid. 

This shift, he said, is fueled by several key factors, including the central government’s significant increase in capital expenditure on infrastructure development, which has risen to $133.3 billion for FY2024-25, marking an 11.1 per cent jump from the previous year.  

“Additionally, India attracted substantial foreign direct investment (FDI), with total inflows reaching US$17.96 billion in FY2023-24.” 

Mumbai with 386 individuals followed by New Delhi with 217 individuals were home to rich listers this year. Bengaluru (100), Chennai (82), Kolkata (69) were other top cities.

Mangaluru, Sep 3: In a tragic incident, a 31-year-old man lost his life after suffering a fatal cardiac arrest while playing cricket at Mooduperara Kayarane, located on the outskirts of Mangaluru.

Pradeep Poojary, a resident of Mooduperara Kayarane and the son of the late Ananda Poojary, experienced severe chest pain during a game on Sunday evening. 

He was immediately rushed to a private hospital in Kaikamba, then to a primary health care center in Bajpe, where he received initial treatment. Despite efforts to save him, Pradeep succumbed to the cardiac arrest on the way to a private hospital in Mangaluru.

Pradeep was an active community member, working as an employee of the Paduperara gram panchayat since 2012. He was the president of the Mangaluru taluk committee of the State Gram Panchayat Employees’ Welfare Association and served as the secretary of Kayarane Navaranga Friends. He was also known for his involvement with Bajrang Dal and Javaner Perar.

Pradeep leaves behind his mother, brother, and sister. His untimely death has sent shockwaves through the community, where he was known for his dedication and service.

Kasaragod: Mohammed Ziyad, a 24-year-old Quran teacher from Kasaragod, Kerala, will be the first owner of Skoda's upcoming SUV, set to launch in 2025. The reason? He named the vehicle "Kylaq." Skoda India revealed the winning name and its creator in an Instagram post, congratulating Ziyad and announcing that he would receive the first model of the sub-four-metre car.

"Congratulations to Mr. Mohammed Ziyad from Kerala for winning the all-new #SkodaKylaq. He will be the first owner when it is launched next year," Skoda India wrote. The contest saw participation from around 200,000 people, all vying for the chance to name the new SUV. In another post, the company explained that "Kylaq" is derived from Sanskrit, meaning "crystal," and is inspired by the word "peak."

Ziyad, who holds an English degree from the University of Calicut, has been teaching at the Najath Quran Academy in Kasaragod for over two years. Despite his modest background, Ziyad’s dream of owning a car seemed out of reach—until this opportunity arose. "I don’t have a passion for cars, but I’ve always wanted to own one. However, my family’s financial situation didn’t allow it," Ziyad shared.

When he encountered Skoda's contest to name their next SUV in February, Ziyad decided to give it a try. The only requirement was that the name should start with a "K" and end with a "Q."

"I spent several days thinking it over, jotting down potential names, and eventually settled on 'Kylaq,'" Ziyad explained. His journey in education also includes a seven-year Islamic studies program at al Marjan Institute for Hafazath al Quran in Malappuram district and a one-year Islamic degree at Jamia Yamaniyya Arabic College in Kozhikode.