In a year that witnessed global economic recalibrations and political tremors, Indian billionaires have only risen in prominence. According to the Hurun Rich List 2025, Reliance Industries Chairman Mukesh Ambani has retained his position as India’s wealthiest individual, boasting a staggering net worth of ₹8.6 lakh crore – a testament to Reliance’s continued dominance across telecom, retail, and energy sectors.
Hot on his heels is Gautam Adani, Chairman of the Adani Group, who not only holds second place in India but also becomes the nation’s largest wealth increaser of the year. His wealth grew by ₹1 lakh crore, a 13% increase from last year, primarily because of a post-regulatory bounce back in core infrastructure and energy businesses.
Hurun Rich List 2025: It’s Not Just a Two-Man Show
For the first time, HCL Technologies’ Chairperson Roshni Nadar Malhotra has entered the top 10 richest Indians, becoming the only woman to do so this year. Following the transfer of a 47% stake in HCL by her father and company founder Shiv Nadar, Roshni’s financial clout has translated into a historic entry on the male-dominated leaderboard.
India’s Billionaire Boom
India is now the third-largest nation in the world, with 284 billionaires, up from 271 the year before. Their combined wealth is an incredible ₹98 lakh crore. The increase is a result of India’s burgeoning consumer market, thriving startup ecosystem, and strong traditional sector results.
Billionaire Capitals: A Shift Eastward
With 129 billionaires, New York is the world’s capital of billionaires, but Asia is subtly changing the landscape. With 92 billionaires compared to Mumbai’s 90, Shanghai has now surpassed Mumbai. This minor change reflects a larger realignment of global capital concentration, which is moving from established Western centers to developing Asian cities.
Spotlight on Hurun
Founded in 1999 by British accountant Rupert Hoogewerf — known as “Hu Run” in Chinese circles- the Hurun Report has evolved into a global authority on wealth tracking. With its headquarters in Shanghai and a key research base in Mumbai, the organisation now tracks billionaires across 20+ countries, providing valuable insight into entrepreneurship and economic trends.
The 2025 edition of the Global Rich List continues to be one of the most referenced benchmarks for private wealth, venture activity, and intergenerational asset transfers — all of which are increasingly shaping global geopolitics and economic policy.
The Gender Gap Narrows – Slightly
Roshni Nadar’s ascent is not just symbolic. It represents a gradual but important change in India’s billionaire class, which has traditionally excluded women. Her move into the top 10 could encourage more boardrooms to re-examine succession planning and ownership structures, especially in family businesses.
Still, her presence remains an exception in an otherwise male-dominated list, underscoring the long road ahead for gender parity in wealth.
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