iNDICA NEWS BUREAU-
The CEO of Arista Networks in the US, Jayshree V. Ullal, is the richest Indian professional manager in the world. The IIFL Wealth and Hurun India released the IIFL Wealth Hurun India Rich List 2022 on September 21 in which Ullal of Arista Networks tops the list of Indian professions with a wealth of $166 billion.
Co-founder of Confluent, a streaming data technology company, Neha Narkhede, 37, [Above right] is the youngest self-made woman entrepreneur in India who also figures in India’s rich list. Narkhede of California is a technology entrepreneur, investor, speaker, and co-creator of the popular open-source messaging system Apache Kafka.
Born in London and raised in India, Ullal is one of America’s wealthiest female executives. She has essayed the role of president and CEO of Arista for over a decade, and she is credited with the company’s business and thought leadership in cloud networking. She led the company to a historic and successful IPO in June 2014 from zero to a multibillion-dollar business.
Formerly she was senior vice president at Cisco, responsible for a $10 billion business in data center, switching and services. With more than 30 years of networking experience, she is the recipient of numerous awards including E&Y’s “Entrepreneur of the Year” in 2015, Barron’s “World’s Best CEOs” in 2018 and one of Fortune’s “Top 20 Business persons” in 2019.
Jayshree holds a B.S. in Engineering (Electrical) and an M.S. degree in engineering management. She is a recipient of the SFSU and SCU Distinguished Alumni Awards in 2013 and 2016.
Narkhede is the investor or advisor to companies including Gem, Block Party, Material Security, Stytch, Abacus AI, StarTree, Xata, Yugabyte, Airplane, Common Room, and more. She has made it to the list of India’s youngest self-made woman entrepreneurs.
On her website, Narkhede says: “I worked at LinkedIn where I led the Apache Kafka team, studied Computer Science at Georgia Tech, and grew up in Pune, India.”
She led the company to a historic and successful IPO in June 2014 from zero to a multibillion-dollar business. Thomas Kurian of Oracle is in the second position and is followed by Nikesh Arora of Palo Alto Networks.
The IIFL Wealth Hurun India Rich List 2022 highlights an interesting trend – a record 735 entrepreneurs or 67% are self-made in the list, up from 659 last year, and up from 54% five years ago. Of all the new faces this year 79% are self-made.
The cumulative wealth of Indian billionaires grew to $100,000 billion: IIFL Wealth Hurun India Rich List 2022
Hurun India has reported that India has 1,103 individuals with a cumulative wealth of $10 billion. The number of billionaires has gone up by 96. This is the first time that this number has breached the 1,100 mark – an increase of 62% over the last five years. That is not the only first, this is also the first time since the launch of Hurun Lists that the cumulative wealth of IIFL Wealth Hurun India Rich Listers grew to $100,000 billion – more than the combined GDP of Singapore, UAE, and Saudi Arabia.
IIFL Wealth Hurun India Rich List 2022 added a record of 149 new faces, from 32 industries and 36 cities. 14 professional managers made it to the list. With $121 billion, California-based Thomas Kurian, 62, is the richest, who encashed his stake in Oracle. With $65 billion, Ignatius Navil Noronha, 47, of Avenue Supermarts is the richest CEO based in India.
A teenager has made a debut on the list. The youngest on the list is 19-year-old Kaivalya Vohra who founded Zepto. “The youngest rich, 10 years ago, was 37 and today, is 19, indicating the impact of the startup revolution in India,” said IIFL Wealth and Hurun India, in a statement
For the first time, 100 startup founders, with a cumulative wealth of $5060 billion and an average age of 40, feature in the IIFL Wealth Hurun India Rich List 2022.
If you are wondering about who are the top rankers, then you might well know their names. Adding $16 billion per day over the last year, and with a wealth of $10944 billion, Gautam Adani (60), overtook Mukesh Ambani (65), to secure the richest Indian title for the first time.
In 2021, Ambani was ahead of Adani’s wealth by $2000 billion, whereas in 2022, Adani is ahead of Ambani by $3000 billion. Adding $417 billion to register a cumulative wealth of $2054 billion, Cyrus Poonawalla (81) stormed into the third position in IIFL Wealth Hurun India Rich List 2022.
Pharma tycoon Dilip Shanghvi (66) and banking magnate Uday Kotak (63), of Kotak Mahindra Bank, reentered the top 10 of the IIFL rich list. They replaced Jay Chaudhary (63) and Kumar Mangalam Birla (55).
The other highlights of the IIFL Wealth Hurun India Rich List 2022 are – there are 12 individuals worth $1000 billion or more, down from 13 in last year’s IIFL Wealth Hurun India Rich List; 221 dollar billionaires, down 16 as compared to last year.
With 126 entrepreneurs, the pharmaceutical sector contributed the most individuals to IIFL Wealth Hurun India Rich List 2022 followed by chemicals and petrochemicals (102) and software and services (84). 24 saw wealth double in the list, led by 5 from textiles followed by 4 from industrial products.
Prannoy Roy and his wife Radhika Roy of NDTV entered the list (681 rank) with a combined wealth of $20 billion after Adani enterprises acquired a stake and announced an open offer for the company.
Alakh Pandey, popularly known as ‘physics wallah’ and his co-founder Prateek Boob debuted in the list and both are ranked at 399th position with a wealth of $40 billion on the back of their startup-Physics Wallah, turning unicorn. In this year’s list, 602 increased their wealth, of which 149 are new faces.
Hurun India and IIFL Wealth today released the IIFL Wealth Hurun India Rich List 2022. This list refers to individuals residing or born and bred in India. This is the 11th annual ranking of the richest individuals in India. Wealth calculations are a snapshot as of 30th August 2022.
Commenting on the launch, Yatin Shah, Co-Founder & Joint CEO, IIFL Wealth, said, “IIFL Wealth Hurun India Rich List 2022is a comprehensive overview of a plethora of factors that have significantly contributed to the rising wealth of India and we are proud to associate with the same Despite the slump in economy owing to geo-political challenges, volatility in global financial markets, and, sharp spike in oil prices, India has successfully made an impression on the world’s economy/wealth map.”
Pharmaceuticals, chemical & petrochemicals, IT, and financial services amongst others are some of the key sectors substantially contributing to wealth creation. “It is exhilarating to see the entrepreneurial ecosystem of India contribute a significant amount to this list with the rising number of women entrepreneurs and, uptick in self-made entrepreneurs. There are 65 founders of 37 unicorns along with 14 professional managers who have emerged as the cornerstone of wealth creation this time in the list,” Shah added.
Anirudha Taparia, Joint CEO, IIFL Wealth, said, “It is encouraging to note that the IIFL Wealth Hurun India Rich List 2022 has only grown, mirroring the improved and optimistic sentiments of emerging entrepreneurs, and industry leaders. Gurugram debuted in the top 10 cities producing most number of entrants and we have a record addition of 149 new faces to the list from 32 industries and 36 cities. This is a reflection of the scope of growth among emerging sectors as well as beyond-metro cities.”
