Hyderabad houses seven out of 137 Indian billionaires: Global Rich List 2020

Hyderabad: Hyderabad is home to seven billionaires out of the 137 billionaires from India. Hurun Global Rich List 2020, which listed 2,816 billionaires from across the globe stated this in their recent report.

Murali Divi, the founder of Divi laboratories based in Hyderabad was ranked at the 589th position, with a net worth of 4.3 Billion US dollars. The company was started 29 years ago.

Telangana’s construction giant P Pitchi Reddy is at 1,530 th position with a net worth of 1.9 billion US dollars. He founded Megha Engineering enterprises in 1989. The company is currently working on Telangana’s largest lift irrigation project. Managing Director of Megha constructions P.V Krishna Reddy also made to the list with net worth of 1.8 Billion US dollars and is in the 1067th position.

He shares his position with P V Ramprasad Reddy, the co-founder of Aurobindo Pharma. According to the report estimates, his net worth is US 1.8 Billion USD.

Jupally Rameshwar Rao, the founder of My Home Group and chairman of TV9 news channel is at 2000th position with net worth of 1.5 billion US dollars.

Owner of Reddy laboratories K Satish Reddy from Hyderabad held 2,276 position and is a new addition to the list this year. His net worth is estimated to 1 billion US dollars.

GV Prasad & G Anuradha of Doctor Reddy’s laboratory is also a new addition to the list. They are founders of Dr. Reddy’s Laboratories with net worth of 1 billion US dollars and are in the 2,642 position.

India produced 33 new billionaires in 2019

India produced 33 new billionaires in just one year to emerge as the third largest economy with a total of 137 billionaires, the report stated.

India is behind China and USA, which have 799 and 626 billionaires, together making up for half of the world’s exclusive club.

Incidentally, apart from the 137 billionaires based in India, there are 32 NRIs who are part of the Global Rich list.

Mukesh Ambani, chairman and Managing Director of Reliance Industries Limited, stayed as the richest in Asia with a net worth of 67 billion US dollars. He is the ninth richest man in the world. The report states that Ambani’s wealth mainly increased because of “a good performance in the telecom sector.”

There was a notable increase in the wealth of some Indians. Gautam Adani rose to 17 billion US dollars net worth while Uday Kotak’s Kotak Mahindra Bank zoomed into top 100 list for the first time this year.

Apart from these, Sunny Mittal, chairman of Bharati Airtel Limited saw his net worth rise from one billion. This could have been due to speculations of Indian telecom market becoming a duopoly led by Reliance Jio and Bharathi Airtel.

Founder of grocery retail chain Avenue markets, more popularly known as D-Mart, Radhakishan Damani’s wealth increased 80 percent.

Mumbai is India’s billionaire capital, OYO founder youngest billionaire

Mumbai remained India’s billionaire capital with 50 in the league staying in the city.

Ritesh Agarwal, owner of OYO hotel chains, become India’s youngest billionaire at 24 years with net worth of 1.1 billion US dollars.

Global Scenario

Jeff Bezos, founder of Amazon retained the number one position with a net worth of 140 billion US dollars. Bernard Arnault, Chairman of Fashion brand Louis Vuitton, held the second position with 107 billion US dollars while Bill Gates of Microsoft with net worth of 106 US Billion dollars in third place.

It is to be noted that Jeff Bezos ex-wife MacKenzie Bezos rose to 22nd position after their divorce.

Kylie Jenner, 22, became the world’s youngest billionaire.

Aiswarya Sriram

Aiswarya Sriram is a budding multimedia journalist and is currently working for NewsMeter. A graduate from Indian Institute of Journalism and New Media (IIJNM) Bangalore, Aiswarya has earlier worked with The Logical Indian and has interned with Republic TV. Aiswarya, a Tamilian who was born and brought up in Mumbai, loves to do rural reporting. She has visited Byadgi Taluk of Karnataka, to write about the issues faced by chilli factory workers there, earlier in 2019. A craft enthusiast, Aiswarya also does quilling, painting and glass work. On her off-days, she loves to read crime-thrillers and watch anime. She primarily reports on civic issues, GHMC, human-interesting features, and fact-checking video stories.

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