India’s billionaire club has grown to 308 individuals, placing the country third globally after the US and China, according to the latest Hurun Global Rich List 2026.
The report highlights steady wealth creation in India, with billionaire fortunes rising even as new entrepreneurs emerge from sectors such as healthcare, consumer goods and manufacturing.
India added 57 new billionaires during the year — the highest number outside the two largest economies — though 27 individuals dropped off the list.
The combined wealth of Indian billionaires rose 10 percent year-on-year to ₹112.6 trillion.
--199 billionaires saw their wealth increase
--109 experienced either a decline or no change in fortunes
--About 7 percent of Indian billionaires are women
The report said India’s billionaire class is expanding beyond traditional industries, reflecting broader economic growth and increasing entrepreneurial activity.
Mukesh Ambani, chairman of Reliance Industries, remained both India’s and Asia’s richest person with a net worth of ₹9.8 lakh-crore, up 9 percent over the past year.
Gautam Adani retained the second position despite a 14 percent fall in wealth, with his fortune estimated at ₹7.5 trillion.
Roshni Nadar Malhotra, chairperson of HCL Technologies, ranked third with a net worth of ₹3.2 trillion. She remains the only woman among India’s 10 richest individuals.
The healthcare sector produced the highest number of new billionaires in India.
Sector-wise additions included:
Healthcare: 53 new billionaires
Industrial products: 36
Consumer goods: 31
Despite fewer individuals, the energy sector accounted for the largest wealth concentration. Just eight energy-sector billionaires together hold ₹18.3 trillion, or about 16 percent of India’s total billionaire wealth.
Cyrus S Poonawalla, founder of the Serum Institute of India, emerged as the biggest wealth gainer in absolute terms, adding nearly one lakh-crore rupees to his fortune during the year.
Mumbai continued to dominate India’s billionaire landscape with 95 billionaires.
However, the city lost its position as Asia’s billionaire capital to Shenzhen, which now hosts 133 billionaires.
Mumbai also saw 15 new billionaire entrants — more than New York (14) and London (nine).
Globally, the cities with the most billionaires are:
New York – 146
Shanghai – 120
Beijing – 107
London – 102
India’s billionaires remain relatively older, with an average age of 67 compared with the global average of 65.
The youngest Indian billionaire is Ritesh Agarwal, founder of Oyo, aged 32, with a net worth of about ₹14,440 crore.
The report also noted that 23 Indian women billionaires together hold wealth worth ₹9.8 trillion, reflecting the gradual rise of women entrepreneurs in the country’s wealth landscape.