Speaking at the launch of the IIFL Wealth Hurun India Rich List 2020, Anas Rahman Junaid, MD and Chief Researcher, Hurun India said, "Assuming that for every one Hurun rich lister we have found, we have probably missed two, it is likely that India today has 2,000 individuals with Rs 1,000 crore."
The list was topped by Mukesh Ambani, chairman of Reliance Industries, who topped it for the ninth consecutive year with a total wealth of Rs 6.58 lakh crore.
The cumulative wealth of IIFL Wealth Hurun India Rich Listers has increased by 20 percent compared to that of last year, of which 28 percent upswing has been bestowed by Ambani, whose wealth rose by 73 percent.
84 individuals of the individuals from last year's list have migrated out of India and 19 saw their wealth double year-on-year.
The IIFL Wealth Hurun India Rich List 2020 has been researched and compiled by the Hurun Research Institute, using a cut-off of 31 August 2020 when the rate of exchange to the US dollar was Rs 73.67. The list relates to Indians only, defined as born or brought up in India.
Top 5 on the list are Mukesh Ambani (Rs 6,58,400 crore), London-based Hinduja brothers (Rs 1,43,700 crore), HCL's Shiv Nadar (Rs 1,41,700 crore), Gautam Adani and family and Azim Premji.
Radhakishan Damani, the founder of Avenue Supermarts, debuted in the top 10 wealthiest individuals ranking.
The richest woman in the list is Smita V Crishna, of Godrej with Rs 32,400 crore, followed by Kiran Mazumdar-Shaw, of Biocon with a wealth of Rs 31,600 crore.
With a wealth of Rs 4,500 crore, Ritesh Agarwal (26) of Oyo Rooms is the youngest person on the list and with a wealth of Rs 5,400 Crore, Dharam Pal Gulati (96) of MDH is the oldest on the list.
Being home to 217 individuals that comprise 26 percent of the list, Mumbai is the residential capital of India's wealthy, followed by New Delhi and Bengaluru.