At 21, Zepto co-founder youngest on 2024 Hurun India Richlist
The latest edition of the Hurun India Richlist is now official. Kaivalya Vohra, 21, co-founder of Zepto, has been named the youngest person on the list. With a net worth of ₹3,600 crore, this marks his third consecutive year on the list, maintaining his position as the youngest among India's wealthiest. Vohra, born in Bengaluru on March 15, 2003, first made it to the list in 2022 at age 19.
A look at Zepto and Vohra's journey
A Stanford University dropout, Vohra left computer science program at 18 to co-found Zepto with Aadit Palicha. Palicha, who is 22, is the second youngest on the list with ₹4,300 crore net worth. The duo initially launched Zepto as Kiranakart—online grocery delivery service promising deliveries within 45 minutes. Vohra and Palicha later evolved Kiranakart into Zepto. Originally serving only Mumbai, Zepto now operates in Lucknow, Bengaluru, Chennai, and Delhi. Zepto reached unicorn status in August 2023 with $1.4 billion valuation.
India's billionaire count surges 29% in 2024
According to the Hurun India Richlist 2024, the country has witnessed a significant increase in its billionaire count. The number of billionaires has surged 29% this year, reaching a total of 334. The report also identified 1,539 individuals with wealth exceeding ₹1,000 crore, marking an addition of 272 names to the list. This rise indicates a new billionaire was created every five days last year.
Gautam Adani tops with ₹11.6 lakh crore wealth
Gautam Adani (62) topped the list, with a fortune of ₹11.6 lakh crore. His wealth has soared by 95%, making him the top contender in this prestigious ranking. Meanwhile, Bollywood superstar Shah Rukh Khan (58) has also made his debut on the list, with an estimated wealth of ₹7,300 crore, primarily derived from stakes in IPL team Kolkata Knight Riders, and film production company Red Chillies Entertainment.
Hyderabad surpasses Bengaluru in billionaire count
In a first, Hyderabad has outpaced Bengaluru in the number of new entrants to the Hurun list. With 17 new additions, it now ranks third on the rich list. Mumbai and New Delhi continue to hold their positions as the top two cities with the highest number of new additions. This shift indicates a changing landscape in India's wealth distribution across major cities.
India is Asia's new wealth creation engine: Hurun
Anas Rahman Junaid, the founder and chief researcher at Hurun India, has described the country as Asia's new engine for wealth creation. He highlighted that while China experienced a 25% decline in number of billionaires, India saw a 29% increase. Junaid stated that "the composition of the list offers a glimpse of the future trajectory of the Indian economy," underscoring its significance beyond mere wealth accumulation statistics.
