India / Who are India's richest entrepreneurs according to Hurun's 2020 rich list?

Business Insider : Sep 29, 2020, 07:19 PM
New Delhi: India is the third-largest startup ecosystem in the world and is also home to some of the most valuable startups in the world. So naturally, this also meant that the young Indian startup founders have seen their wealth rise over the years and have found their place amidst India’s richest.

According to the IIFL Wealth Hurun India Rich List 2020, here are the billionaire entrepreneurs of India

Paytm founder Vijay Shekhar Sharma’s wealth has grown massively over the last five years, rising from 171st rank in 2016 to the 44th rank this year. In the last one year, his net wealth has grown by ₹2,600 crore.

A big gainer has been Byju Raveendran, co-founder, and CEO of BYJU’S – the world’s most valued edtech startup. Byju and his family saw their wealth grow by 115% – from ₹7,700 crore last year to ₹20,400 crore in this year’s list. This wealth increase comes at a time when BYJU’s doubled its revenue in FY20 to ₹2800 crore and has been growing massively with the shift to online learning.

Meanwhile, Nikhil Kamath and family have also seen a 156% increase in their wealth. “With a wealth of ₹16,900 crore, Nithin Kamath, 40, stormed into Top 100 in IIFL Wealth Hurun India Rich List 2020 and Nikhil Kamath, 34, registered a wealth of ₹7,100 crore,” said the report. Their stockbroking platform accounts for 15% of the retail trade in the country, and Zerodha also recently turned into a unicorn, according to their own estimates. It is worthy to note that Zerodha hasn’t raised any external funding to date.

The surprise entrants in the list are Udaan co-founders Amod, Sujeet, and Vaibhav. Udaan has seen its business grow through the lockdown and is one of the most valued Indian startups with a valuation of $7.5 billion.