Founders of online MF distribution firms make it to the Hurun India Rich List 2021

The latest Hurun India Rich List is out. With the addition of 40 new names, the list now features 177 billionaires. Interestingly, the list features three names who are also into mutual fund distribution business.

In the Hurun India Rich List, founder of Paytm Money Vijay Shekhar Sharma is among the youngest Indian billionaires. He started one97 Communications, the parent company of Paytm, in 2000. An early entrant in the online payments space in India, Paytm soon became one of the most valued startups in the country and Sharma became the India's youngest billionaire in 2017.

Next in the list from MF distribution community are founders of Coin by Zerodha Nithin Kamath and Nikhil Kamath. Nithin is the CEO of the discount brokerage Zerodha, the company he co-founded with his brother Nikhil Kamath in 2010. A decade later, the startup is now the largest broker in the country. Post the coronavirus outbreak, the startup witnessed a steep surge in user additions, leading to a significant rise in company's revenue and valuation. Also, Nikhil Kamath is among the youngest billionaires in the country.

Mukesh Ambani of Reliance Group continues to be the wealthiest Indian with a wealth of $83 billion (Rs 6.06 lakh crore).

The list has a fair share of billionaires from every major industry. Individuals from financial services also continued to find a place in the annual report.

The list has 12 names from the financial services sector with a cumulative wealth of Rs.3.21 lakh crore. Uday Kotak continues to occupy the top spot. He is the only one from the industry who has a wealth of over Rs 1 lakh crore. The founder of Kotak Mahindra Bank ranked seventh in the overall Hurun India rich list.

The report shows that the total number rises to 209 if we include Indian origin billionaires across the world.

Indian billionaires from the financial services industry: