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Journalism of Courage
Led by Mukesh Ambani and family, India’s tally of US dollar billionaires (wealth above $1 billion, or over Rs 8,800 crore) has risen by 24 to 358 in 2025. The M3M Hurun India Rich List 2025 shows 1,687 individuals — up by 148 from last year — across 91 cities with wealth of Rs 1,000 crore or more. As many as 1,004 individuals with wealth above Rs 1,000 crore saw their fortunes rise or hold steady, including 284 new entrants, while 643 lost wealth and 139 dropped off the list.
Among billionaires, Ambani leads with a fortune of Rs 9.55 lakh crore, followed by Gautam Adani with Rs 8.14 lakh crore.
Bollywood superstar Shah Rukh Khan (59) entered the billionaire club for the first time with a fortune of Rs 12,490 crore. Chennai-born Aravind Srinivas (31), founder of Ai-focused company Perplexity, debuted with Rs 21,190 crore, making him the youngest billionaire on the list.
Roshni Nadar of the HCL Group is the youngest in the Top 10. The Bajaj family saw their wealth jump 43 per cent to Rs 2.33 lakh crore, climbing four spots to sixth place.
“The Top 10 richest hold 27 per cent of total wealth, capable of powering nation-building projects, while the base of wealth is broadening rapidly — individuals with over Rs 1,000 crore have more than doubled in five years, with representation rising to 91 cities from just 10 at inception,” M3M Hurun India said.
The combined wealth of those on the Rich List 2025 stands at Rs 167 lakh crore — nearly half of India’s GDP — with 358 dollar-billionaires, up from just 59 in 2012 and 200 five years ago. “Wealth creation is increasingly borderless, with Jayshree Ullal in Silicon Valley, industrial stalwarts in London and Dubai, and new Gulf billionaires linking global capital back to India,” the report noted.
Cities with most billionaires
Mumbai remains the billionaire capital with 451 entrants, followed by Bengaluru (116), Hyderabad (102), Chennai (94) and Pune (66), signalling the decentralisation of wealth hubs. By sector, pharmaceuticals leads with 137 listers, followed by industrial products (132), chemicals & petrochemicals (125), software & services (110), real estate (99) and a fast-emerging biotech sector — making India’s wealth engine more diverse and resilient.
A record 66 per cent (1,115 individuals) on the Hurun Rich List 2025 are self-made, up from 55 per cent five years ago. Among the 284 new entrants, 74 per cent built fortunes from scratch. The start-up boom has become the single largest engine of new wealth creation, reshaping not just fortunes but India’s economic fabric.
Anas Rahman Junaid, founder and chief researcher of Hurun India, said: “The cumulative wealth of India’s richest climbed to Rs 167 lakh crore, with 1,044 individuals gaining versus 643 losing, showing the wealth-creation engine remains strong. Optimism is reflected in the rise of first-generation founders, regional hubs beyond metros, and new-age sectors reshaping the economy.”
The entry threshold for the Top 10 billionaires has surged to Rs 1.83 lakh crore, up from Rs 1.63 lakh crore, making it tougher than ever for newcomers to break in. The average age of the richest has dropped to 69 — three years younger than last year. The list also features 97 startup founders, including 46 first-timers, and 12 founders from publicly listed startups.
