BYJU's founder one of the richest young Indians, Gautam Adani moves up two spots

The Covid19 pandemic seems to have accelerated the wealth accretion of ITenabled startup founders including Byju Raveendrans firm Think amp Learn which runs the BYJUs ClassesBesides Raveendran another tech entrepreneur Shashvat Nakrani of BharatPe saw a healthy augmentation of his wealthAccording to the IIFL Wealth Hurun India Rich List 2021 the studyfromhome trend which has been promoted on the back of the pandemic led Raveendran and Familys fortune to grow 19 per cent yearonyear to Rs 24300 croreThe fast pace of wealth accretion of the online classes startup founder has placed him above investment guru Rakesh Jhunjhunwala and family whose wealth interesting grew by 52 per cent to Rs 22300 croreFurthermore Raveendran and family is now the 67th wealthiest in the country even more than VC Burman and Nandan Nilekani amp FamilyMeanwhile Nakrani 23 is the youngest to feature in the list His wealth grew to Rs 1700 crore after his startup BharatPe became a unicornNakrani cofounded BharatPe at the age of 19 when he was a thirdyear student in IIT Delhi Notably Nakrani is one of the 13 individuals in the list who were born in the 1990sInterestingly the 2021 list features some 46 founders of 26 mostly unicornsRankingwise the list pointed out that Reliance Industries Chairman and Managing Director Mukesh Ambani continued to be the richest man in India for the 10th consecutive year with a wealth of Rs 718000 croreWith INR 505900 crore Gautam Adani amp family moved up two places to the second spot in the IIFL Wealth Hurun India Rich List 2021The Adani group has a combined market capitalisation of Rs 9 lakh crore and except Adani Power all listed companies are valued at more than a lakh croreGautam Adani is the only Indian to build not one but five Rs 1 lakh crore companies said Anas Rahman Junaid MD and Chief Researcher Hurun IndiaShiv Nadar of HCL retained the third rank as HCLs limited exposure to Covidaffected segments such as travel retail and hospitality resulted in a 67 per cent increase in his wealth to Rs 236600 croreFor the 12 months that ended in December 2020 HCL became only the third Indian IT company to break through the 10 billion revenue markMoreover India achieved the milestone of having over 1000 individuals with net worth of Rs 1000 croreThe 2021 list revealed that 1007 individuals across 119 cities have a net worth of Rs 1000 croreIt cited that cumulative wealth was up 51 per cent while average wealth increased by 25 per centThe report showed that 894 individuals saw their wealth increase or stay the same of which 229 are new faces while 113 saw their wealth drop and there were 51 dropoutsCurrently India has 237 billionaires up 58 compared to last yearWhile chemicals and software sectors added the greatest number of new entrants to the list pharma is still at number one and has contributed 130 entrants to the list The youngest in the list is aged 23 three years younger than the youngest last yearThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever