The second edition of the Fortune India-Waterfield Advisors' study of India's richest — a definitive listing of the country's dollar billionaires — shows that the elite club is now equivalent to 25.39% of India's FY23 GDP of ₹273 lakh crore ($3.4 trillion). The collective wealth of India's uber rich swelled from ₹66.35 lakh crore ($832 billion) in 2022 to ₹69.30 lakh crore ($843 billion) this year, even as the club of billionaires expanded from 142 to 157. India's prosperity engine is not just running — it's roaring.
What's pertinent to note is that India's legacy business houses, the Tatas, the Bajajs, the Birlas, and the Burmans, stand tall in a listing peppered with first- and second-gen entrepreneurs. Barring the Mistry family whose wealth is largely tied in the privately held Tata Sons, the Godrej clan (₹1.57 lakh crore), the Bajaj family (₹1.42 lakh crore), Kumar Mangalam Birla (₹1.42 lakh crore) and the Burmans (₹82,352 crore) continue to rank among the 20 top richest Indians.
Soumya Rajan, founder and CEO, Waterfield Advisors, whose firm is wealth advisor to over 200 business families, believes it is not without reason. "What has been unique about family businesses in India is that a lot many have managed to prove their resilience and adapt with the times. If the early era was about professionalising the management, today, the families are ensuring that the legacy is preserved down the generations by creating the right governance structures to prevent conflicts."
| Rank | Name | Value (in Rs Crore) | Value ($bn) | Flagship Companies | Sector | Age |
| 1 | Mukesh Ambani | 819,225 | 99.70 | Reliance Industries | Diversified | 66 |
| 2 | Gautam Adani | 523,538 | 63.71 | Adani Enterprises, Adani Ports & Special Economic Zone, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, Adani Wilmar, Ambuja Cements | Diversified | 61 |
| 3 | Shapoor Mistry & Late Cyrus Mistry family | 284,712 | 34.65 | Tata Consultancy Services, Tata Motors, Titan Company, Tata Steel, Tata Sons, Sterling & Wilson Renewable Energy | Diversified | 58 |
| 4 | Cyrus Soli Poonawalla | 270,725 | 32.95 | Serum Institute of India, Poonawalla Fincorp | Pharmaceuticals | 82 |
| 5 | Radhakishan Damani | 192,535 | 23.43 | Avenue Supermarts | Diversified | 69 |
| 6 | Shiv Nadar | 189,996 | 23.12 | HCL Technologies, HCL Infosystems | IT | 78 |
| 7 | Azim Premji | 163,082 | 19.85 | Wipro | IT | 78 |
| 8 | Adi Godrej & Godrej family | 157,786 | 19.20 | Godrej Consumer Products, Godrej & Boyce Manufacturing Company, Godrej Industries, Godrej Properties, Godrej Agrovet | Diversified | 81 |
| 9 | Shekhar Bajaj, Niraj Bajaj, Rajiv Bajaj & Sanjiv Bajaj | 142,634 | 17.36 | Bajaj Finserv, Bajaj Holdings & Investment, Bajaj Auto, Bajaj Electricals, Mukand | Diversified | 74, 69, 56, 53 |
| 10 | Kumar Mangalam Birla | 142,493 | 17.34 | Grasim Industries, Hindalco Industries, Essel Mining & Industries, Aditya Birla Fashion & Retail, UltraTech Cement | Diversified | 56 |
| 11 | Dilip Shanghvi & family | 142,282 | 17.32 | Sun Pharmaceuticals Industries, Sun Pharma Advanced Research Company, Suzlon Energy | Pharmaceuticals | 67 |
| 12 | Sunil B Mittal & Mittal family | 136,387 | 16.60 | Bharti Airtel, Indus Towers | Telecom | 65 |
| 13 | Savitri Devi Jindal | 136,256 | 16.58 | JSW Steel, JSW Energy, Jindal Steel & Power, JSW Holdings, Jindal Saw | Steel | 73 |
| 14 | Uday Kotak | 96,257 | 11.71 | Kotak Mahindra Bank | BFSI | 64 |
| 15 | Madhukar Parekh & family | 93,254 | 11.35 | Pidilite Industries | Chemicals | 77 |
| 16 | Kushal Pal Singh | 91,461 | 11.13 | DLF | Realty | 91 |
| 17 | Ravi Kant Jaipuria | 83,783 | 10.20 | Varun Beverages, Devyani International | FMCG | 68 |
| 18 | Mohit Burman & Burman family | 82,352 | 10.02 | Dabur India, Religare Enterprises, Eveready Industries India, Talbros Automotive Components, Eldeco Housing & Industries | Diversified | 55 |
| 19 | M.M. Murugappan & family | 69,723 | 8.49 | Tube Investments of India, Cholamandalam Investment & Finance Company, Carborundum Universal, EID Parry (India), Parry Agro Industries | Finance | 67 |
| 20 | Hasmukh Chudgar & family | 68,491 | 8.34 | Intas Pharmaceuticals | Pharmaceuticals | 90 |
| 21 | Ashwin Suryakant Dani | 68,080 | 8.29 | Asian Paints, Sattva Holding & Trading Co | FMCG | 80 |
| 22 | Girdharilal Bawri, Banwarilal Bawri & Rajendra Agarwal | 62,813 | 7.64 | Macleods Pharmaceuticals | Pharmaceuticals | 76, 70, 64 |
| 23 | Sudhir Mehta & Samir Mehta | 62,638 | 7.62 | Torrent Pharmaceuticals, Torrent Power | Pharmaceuticals | 69, 59 |
| 24 | Benu Gopal Bangur | 54,914 | 6.68 | Shree Cement | Cement | 91 |
| 25 | Mahendra Chimanlal Choksi | 52,606 | 6.40 | Asian Paints | FMCG | 82 |
| 26 | Mangal Prabhat Lodha | 51,316 | 6.25 | Macrotech Developers | Realty | 67 |
| 27 | Murali K. Divi | 50,696 | 6.17 | Divis Laboratories | Pharmaceuticals | 72 |
| 28 | Nehal, Bhairavi, Vivek - Abhay Vakil family | 50,529 | 6.15 | Asian Paints | FMCG | 45 |
| 29 | Kuldip Singh Dhingra & Gurbachan Singh Dhingra | 48,720 | 5.93 | Berger Paints India | FMCG | 75, 73 |
| 30 | Anil Rai Gupta | 47,740 | 5.81 | Havells India | Consumer Durables | 54 |
| 31 | Rekha Rakesh Jhunjhunwala & family | 46,128 | 5.61 | Titan Company, Star Health & Allied Insurance Co, Tata Motors, Escorts Kubota, Fortis Healthcare, Metro Brands | Investing | 59 |
| 32 | Pankaj Patel | 45,797 | 5.57 | Zydus Lifesciences, Zydus Wellness | Pharmaceuticals | 70 |
| 33 | Vikram Lal | 45,032 | 5.48 | Eicher Motors | Automobile | 81 |
| 34 | Nusli Wadia | 44,847 | 5.46 | Britannia Industries, Bombay Burmah Trading Corporation, Go Airlines India, Bombay Dyeing & Manufacturing Company, National Peroxide | Diversified | 79 |
| 35 | Vijay Chauhan | 43,556 | 5.30 | Parle Biscuits | FMCG | 87 |
| 36 | Harsh Mariwala & Kishore Mariwala | 41,459 | 5.05 | Marico | FMCG | 72, 88 |
| 37 | Dilip Surana & Anand Surana | 41,143 | 5.01 | Micro Labs | Pharmaceuticals | 57, 52 |
| 38 | Ramesh Juneja & Rajeev Juneja | 40,121 | 4.88 | Mankind Pharma | Pharmaceuticals | 68, 58 |
| 39 | Rahul Bhatia | 38,784 | 4.72 | Interglobe Aviation | Aviation | 67 |
| 40 | Inder T. Jaisinghani | 38,707 | 4.71 | Polycab India | Consumer Durables | 70 |
| 41 | George Jacob Muthoot & family | 38,497 | 4.69 | Muthoot Finance | BFSI | 70, 72, 67 |
| 42 | Vivek Chaand Sehgal | 37,452 | 4.56 | Samvardhana Motherson International, Motherson Sumi Wiring | Auto Ancillaries | 66 |
| 43 | Manoj Menda & Raj Menda | 36,992 | 4.50 | RMZ Corp Holdings | Realty | 55, 61 |
| 44 | Acharya Balkrishna | 34,376 | 4.18 | Patanjali Foods, Patanjali Ayurved | FMCG | 50 |
| 45 | Sanjiv Goenka | 33,188 | 4.04 | CESC, Firstsource Solutions, Saregama India, PCBL, Spencers Retail | Diversified | 62 |
| 46 | Leena Tewari | 32,464 | 3.95 | USV | Pharmaceuticals | 66 |
| 47 | Nithin Kamath & Nikhil Kamath | 31,360 | 3.82 | Zerodha Broking | New Age Tech | 43, 36 |
| 48 | P.P. Reddy, P.V. Krishna Reddy | 31,131 | 3.79 | Megha Engineering & Infrastructures | Construction | 65, 54 |
| 49 | Murlidhar Gyan Chandani & family | 29,978 | 3.65 | RSPL | FMCG | 76 |
| 50 | Pawan Munjal | 28,008 | 3.41 | Hero MotoCorp, Hero Fincorp, Munjal Kiriu Industries, Munjal Auto Industries, Munjal Showa | Automobile | 68 |
| 51 | Yusuf Hamied & family | 27,979 | 3.41 | Cipla | Pharmaceuticals | 87 |
| 52 | Sandeep P. Engineer | 27,757 | 3.38 | Astral | Consumer goods | 62 |
| 53 | Arvind Poddar | 27,397 | 3.33 | Balkrishna Industries | Auto Ancillaries | 65 |
| 54 | Vivek Jain | 26,408 | 3.21 | Gujarat Fluorochemicals, Inox Wind, Inox Wind Energy | Chemicals, Energy | 67 |
| 55 | Vikas Oberoi | 26,093 | 3.18 | Oberoi Realty | Realty | 53 |
| 56 | Arun Bharat Ram | 26,000 | 3.16 | SRF | Chemicals | 82 |
| 56 | S. Kris Gopalakrishnan | 26,000 | 3.16 | Infosys, Pratithi Investment Trust | IT | 68 |
| 58 | Karsanbhai Patel | 25,764 | 3.14 | Nirma, Nuvoco Vistas Corporation | FMCG | 79 |
| 59 | Ravi Modi | 25,363 | 3.09 | Vedant Fashions | Apparels & Textiles | 46 |
| 60 | Salil Singhal | 25,353 | 3.09 | P I Industries | Chemicals (Agro) | 77 |
| 61 | Lachhman Das Mittal | 25,123 | 3.06 | International Tractors | Automobile | 92 |
| 62 | Rajan Raheja | 24,688 | 3.00 | Exide Industries, Prism Johnson, Supreme Petrochem, Sonata Software, Asianet Satellite Communication | Diversified | 69 |
| 63 | Chandru Raheja | 24,560 | 2.99 | Mindspace Business Parks, Shoppers Stop, Chalet Hotels | Realty | 82 |
| 64 | N. R. Narayana Murthy | 24,549 | 2.99 | Infosys | IT | 76 |
| 65 | Satyanarayan Nuwal | 24,375 | 2.97 | Solar Industries India | Chemicals | 71 |
| 66 | Basudeo Narain Singh & family | 24,054 | 2.93 | Alkem Laboratories | Pharmaceuticals | 82 |
| 67 | Venu Srinivasan | 23,988 | 2.92 | TVS Motor Company | Automobile | 70 |
| 68 | Nirmal K. Minda | 23,518 | 2.86 | UNO Minda (formerly Minda Industries) | Auto Ancillaries | 65 |
| 69 | A. Krishnamoorthy | 22,659 | 2.76 | Simpson & Company, Amalgamations Valeo Clutch, United Nilgiri Tea Estates Company, IP Rings, Bimetal Bearings | Diversified | 85 |
| 70 | G.V. Prasad & Satish Reddy families | 22,626 | 2.75 | Dr Reddys Laboratories | Pharmaceuticals | 62, 56 |
| 71 | Yadu Hari Dalmia | 22,624 | 2.75 | Dalmia Bharat, Dalmia Bharat Sugar & Industries | Cement | 76 |
| 72 | Bhavish Aggarwal | 22,315 | 2.72 | ANI Technologies, ola cabs, Ola Electric Mobility | New Age Tech | 37 |
| 73 | Rafique A. Malik | 21,718 | 2.64 | Metro Brands | Retail | 72 |
| 74 | Falguni Nayar & family | 21,695 | 2.64 | FSN E-Commerce Ventures (Nykaa) | New Age Tech | 60 |
| 75 | Abhay Firodia | 21,289 | 2.59 | Force Motors, Bajaj Finserv, Bajaj Auto, Bajaj Holdings & Investment | Automobile | 78 |
| 76 | S. Viji | 21,203 | 2.58 | Brakes India, Sundaram Finance | Diversified | 77 |
| 77 | Bajranglal Taparia | 20,878 | 2.54 | Supreme Industries, Supreme Petrochem | Chemicals | 89 |
| 78 | Baba Kalyani | 20,162 | 2.45 | Bharat Forge, Hikal, Automotive Axles, BF Utilities, Kalyani Steels | Auto Ancillaries | 74 |
| 79 | Manju Deshbandhu Gupta family | 19,949 | 2.43 | Lupin | Pharmaceuticals | 79 |
| 80 | Joy Alukkas | 19,914 | 2.42 | Joyalukkas India | Gems & Jewellery | 66 |
| 81 | Kiran Mazumdar-Shaw | 19,575 | 2.38 | Biocon | Pharmaceuticals | 70 |
| 82 | Sanjeev Bikhchandani | 19,512 | 2.37 | Info Edge (India) | New Age Tech | 60 |
| 83 | Shyam Bhartia & Hari Bhartia | 18,859 | 2.30 | Jubilant Foodworks, Jubilant Ingrevia, Jubilant Pharmova, Jubilant Chemsys, Jubilant Industries | Diversified | 70, 66 |
| 84 | Sunder Genomal | 18,858 | 2.30 | Page Industries | Retail | 69 |
| 85 | P.V. Ramprasad Reddy | 18,802 | 2.29 | Aurobindo Pharma | Pharmaceuticals | 65 |
| 86 | Bhadresh K. Shah | 18,555 | 2.26 | AIA Engineering | Capital Goods | 71 |
| 87 | Prathap Reddy | 18,228 | 2.22 | Apollo Hospitals Enterprise, Apollo Health & Lifestyle | Pharma & Healthcare | 90 |
| 88 | Anurang Jain | 18,086 | 2.20 | Endurance Technologies | Auto Ancillaries | 61 |
| 89 | Harsh Goenka | 18,013 | 2.19 | K E C International, Zensar Technologies, CEAT, RPG Life Sciences, Raychem-RPG | Diversified | 65 |
| 90 | Satish Mehta & Sunil Mehta | 17,303 | 2.11 | Emcure Pharmaceuticals | Pharmaceuticals | 72, 60 |
| 91 | Anu Aga & family | 17,236 | 2.10 | Thermax | Capital Goods | 80 |
| 92 | Samir Jain & Vineet Jain | 17,169 | 2.09 | Bennett, Coleman & Company, Times Internet | Media & Entertainment | 69, 58 |
| 93 | Kalanithi Maran | 16,721 | 2.03 | Sun TV Network, Sun Direct TV, Kal Airways, Kal Publications | Media & Entertainment | 58 |
| 94 | Ajay Piramal | 16,589 | 2.02 | Piramal Enterprises, Shriram City Union Finance | Diversified | 67 |
| 95 | K. P. Ramasamy | 16,532 | 2.01 | K P R Mill | Textiles | 74 |
| 96 | Pavan Jain & Siddharth Jain | 16,428 | 2.00 | Inox Air Products, Inox India, GFL, Inox Leisure | Chemicals, Entertainment | 72, 44 |
| 97 | Nandan Nilekani | 16,327 | 1.99 | Infosys | IT | 68 |
| 98 | Ramesh Kumar Dua & Mukand Lal Dua | 15,901 | 1.94 | Relaxo Footwears | Retail | 69, 74 |
| 99 | Manohar Lal & Madhusudan Lal | 15,752 | 1.92 | Haldiram Snacks | FMCG | 68, 65 |
| 100 | R.G. Chandramogan | 15,668 | 1.91 | Hatsun Agro Product | FMCG | 74 |
| 101 | Prem Kumar Arora | 15,610 | 1.90 | Mankind Pharma | Pharmaceuticals | 84 |
| 102 | Savji Dholakia & family | 15,307 | 1.86 | Hari Krishna Exports | Gems & Jewellery | 61 |
| 103 | Rajendran Govindarajulu & family | 15,160 | 1.84 | GRT Jewellers | Gems & Jewellery | 80 |
| 104 | Deepak Chimanlal Mehta & Sailesh Chimanlal Mehta | 15,050 | 1.83 | Deepak Nitrite, Deepak Fertilizers & Petrochemicals Corp | Chemicals | 66, 62 |
| 105 | M. Satyanarayana Reddy | 15,026 | 1.83 | MSN Laboratories | Pharmaceuticals | 66 |
| 106 | Irfan Razack | 14,814 | 1.80 | Prestige Estates Projects | Realty | 69 |
| 107 | Noel Naval Tata | 14,528 | 1.77 | Tata Consultancy Services, Tata Motors, Titan Company, Tata Steel, Tata Sons | Diversified | 66 |
| 108 | Atul Ruia | 14,414 | 1.75 | Phoenix Mills | Realty | 52 |
| 109 | Late Sudha-Keshub Mahindra family | 14,234 | 1.73 | Mahindra & Mahindra, Tech Mahindra, Swaraj Engines | Diversified | - |
| 110 | Vinod Saraf | 14,100 | 1.72 | Vinati Organics | Chemicals | 73 |
| 111 | Rajnikant Devidas Shroff | 14,093 | 1.72 | UPL, Uniphos Enterprises | Chemicals (Agro) | 89 |
| 112 | K. Dinesh | 14,020 | 1.71 | Infosys | IT | 69 |
| 113 | Abhay Soi | 13,869 | 1.69 | Max Healthcare Institute | Pharma & Healthcare | 49 |
| 114 | Devi Prasad Shetty | 13,580 | 1.65 | Narayana Hrudayalaya | Pharma & Healthcare | 70 |
| 115 | Anand Mahindra | 13,471 | 1.64 | Mahindra & Mahindra, Tech Mahindra, Swaraj Engines | Diversified | 68 |
| 116 | Sanjay Agarwal | 13,311 | 1.62 | AU Small Finance Bank | BFSI | 52 |
| 117 | Balkrishan Gopiram Goenka | 12,974 | 1.58 | Welspun India, Welspun Corp, Welspun Enterprises, Welspun Specialty Solutions, Welspun Investments & Commercials | Diversified | 56 |
| 118 | Balasubramanian Prabhakaran | 12,869 | 1.57 | Thriveni Earthmovers | Capital Goods-Non Electrical Equipment | 50 |
| 119 | Ratan Tata | 12,664 | 1.54 | Tata Consultancy Services, Tata Motors, Titan Company, Tata Steel, Tata Sons | Diversified | 85 |
| 120 | Suresh Krishna | 12,648 | 1.54 | Sundram Fasteners | Auto Ancillaries | 86 |
| 121 | Rajinder Gupta | 12,249 | 1.49 | Trident | Textiles | 64 |
| 122 | K.M. Mammen | 12,053 | 1.47 | MRF | Auto Ancillaries | 74 |
| 123 | Rajesh Sharma | 11,990 | 1.46 | Capri Global Capital | BFSI | 53 |
| 124 | Surendra Kumar Arya | 11,908 | 1.45 | JBM Auto, Jay Bharat Maruti | Auto Ancillaries | 65 |
| 125 | Jimmy Naval Tata | 11,768 | 1.43 | Tata Consultancy Services, Tata Motors, Titan Company, Tata Steel, Tata Sons | Diversified | 82 |
| 126 | Ashwin Desai | 11,654 | 1.42 | Aether Industries | Chemicals | 71 |
| 127 | S. D. Shibulal | 11,653 | 1.42 | Infosys | IT | 68 |
| 128 | Sushila Devi Singhania | 11,647 | 1.42 | J K Cements | Cement | 87 |
| 129 | Piloo-Minocher Tata & family | 11,622 | 1.41 | Tata Consultancy Services, Tata Motors, Titan Company, Tata Steel, Tata Sons | Diversified | - |
| 130 | T.S. Kalyanaraman | 11,541 | 1.40 | Kalyan Jewellers | Gems & Jewellery | 76 |
| 131 | Anand Deshpande | 11,510 | 1.40 | Persistent Systems | IT | 61 |
| 132 | Sanjay Gupta & family | 11,500 | 1.40 | Apl Apollo Tubes | Metal Tube | 52 |
| 133 | Umesh Sharma | 11,070 | 1.35 | Aristo Pharmaceuticals | Pharmaceuticals | 70 |
| 134 | Byju Raveendran | 10,980 | 1.34 | Think & Learn (Byju's) | New Age Tech | 45 |
| 135 | Ashok Ramnarayan Boob | 10,922 | 1.33 | Clean Science & Technology | Chemicals | 71 |
| 136 | Arvind Lal | 10,812 | 1.32 | Dr Lal Pathlabs | Pharma & Healthcare | 73 |
| 137 | Rajesh Mehra & family | 10,780 | 1.31 | Jaquar & Company | Consumer Goods | 64 |
| 138 | Raghu Kumar & Ravi Kumar | 10,643 | 1.30 | Upstox | New Age Tech | 41, 37 |
| 139 | Sunil Vachani | 10,590 | 1.29 | Dixon Technologies | Consumer Durables (B2B) | 54 |
| 140 | Sunjay Kapur | 10,581 | 1.29 | Sona BLW Precision Forgings | Auto Ancillaries | 51 |
| 141 | Anil Kumar Singh & family | 10,430 | 1.27 | Apco Infratech | Construction | 57 |
| 142 | Prakash M. Sanghvi & family | 10,300 | 1.25 | Ratnamani Metals & Tubes | Metal Tube | 67 |
| 143 | Vinod Kumar Agarwal & family | 10,223 | 1.24 | G R Infraprojects | Construction | 63 |
| 144 | Ashok Kajaria | 9,986 | 1.22 | Kajaria Ceramics | Consumer Goods | 75 |
| 145 | Prakash Chauhan | 9,873 | 1.20 | Parle Agro | FMCG | 76 |
| 146 | Mannalal B Agrawal | 9,805 | 1.19 | Ajanta Pharma | Pharmaceuticals | 76 |
| 147 | Onkar Kanwar | 9,760 | 1.19 | Apollo Tyres | Auto Ancillaries | 81 |
| 148 | G.M. Rao | 9,489 | 1.15 | GMR Infrastructure, GMR Kamalanga Energy, GMR Energy, Delhi Duty Free Services | Infrastructure | 73 |
| 149 | Ajay S. Shriram | 9,307 | 1.13 | DCM Shriram | Diversified | 69 |
| 150 | Glenn Saldanha & family | 9,238 | 1.12 | Glenmark Pharma | Pharmaceuticals | 53 |
| 151 | Yogesh M. Kothari | 9,039 | 1.10 | Alkyl Amines Chemicals | Chemicals | 74 |
| 152 | T.T. Jagannathan | 8,942 | 1.09 | TTK Prestige, TTK Healthcare, Vidal Health Insurance TPA | Consumer Durables | 75 |
| 153 | Ashok Patni | 8,843 | 1.08 | Wonder Cement | Cement | 69 |
| 154 | Jayen Ramesh Shah, Mukesh Maganlal Shah | 8,608 | 1.05 | Fine Organic Industries | Chemicals | 59, 67 |
| 155 | Dinesh Chandra Agarwal & Brijesh Kumar Agrawal | 8,586 | 1.04 | Indiamart Intermesh Ltd | New Age Tech | 54, 46 |
| 156 | Rajesh Mehta | 8,374 | 1.02 | Rajesh Exports | Consumer goods | 59 |
| 157 | Anil Gupta | 8,240 | 1.00 | KEI Industries | Consumer Durables | 64 |
