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Gautam Adani and family has 70% more wealth than the AUM of India’s largest fund house.
The latest list of the Indian wealthy released by IIFL Wealth and Hurun ‘IIFL Wealth Hurun India Rich List 2022’ reveals that Gautam Adani and family has a net worth of Rs.10.94 lakh crore, which is more than the AUM of SBI Mutual Fund (Rs.6.47 lakh crore) AUM as on June 2022.
In fact, Adani has added Rs.1600 crore a day over the last one year, says the report. Mukesh Ambani with net worth of Rs.7.94 lakh crore and Cyrus Poonawala and family with Rs.2.05 lakh crore followed Adani.
According to the report, India has added 96 individuals with net worth of over Rs. 1000 crore in the last one year. The report says that the number of wealthy having over Rs.1000 crore has increased to 1103.
Surprisingly, 12 individuals have wealth of over Rs.1 lakh crore as on August 2022. In fact, India has a total of 221 billionaires in US dollar terms.
In terms of geographical spread of the wealthy, Mumbai has emerged as the top city with 283 individuals. New Delhi and Bangalore followed Mumbai with 185 and 89 wealthy respectively in the rich list. The report said that these three cities account for 50% of the India wealthy.
Another key finding of the report was that most wealthy individuals have come from industries like pharmaceutical, chemicals and petrochemicals and software and services
Interestingly, 61 individuals from financial services made it to the list with Uday Kotak being the wealthiest with net worth of Rs.1.19 lakh crore.
