Business & Investment

The wealthiest people in India under the age of 40 see a whopping 286% increase in wealth

The wealth of India’s wealthiest self-employed entrepreneurs under the age of 40 has nearly quadrupled over the past year.

Cumulatively, they added 1.65 rupees to their wealth, according to IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2021. This is an increase of 286% compared to last year. There were 31 new entrants on the list, 30 of whom were startup founders.

Currently, there are 45 Indian entrepreneurs on our extensive list of homebrews under the age of 40. As of September 15, 2021, all had assets in excess of Rs 1,000.

Anas Rahman Junaid, Founder and Managing Director of Hurun India, said: “This list is expected to quadruple to 200 applicants over the next five years.”

At the top of the list was Dubai-based investor Divyank Turakhia, who had a wealth of Rs 12,500. This was followed by the co-founders of Browserstack Nakul Aggarwal and Litesh Arora. Both were new entrants with a wealth of Rs 12,400 each.

The founders of EaseMyTrip, Rikant Pitti, Nishit Pitti, and Prashant Pitti, have made their debut on an extensive list against the backdrop of their strong initial public offering. Meanwhile, Eki Energy founder Manish Kumar Dabkara was the only non-tech debut on the list. His company also made a strong initial public offering on the BSESME platform.

The average age of wealthy homebrew entrepreneurs on the list was 34, and Bharat Pe’s Shashvat Nakrani was the youngest at 23.

The Software and Services sector is a major wealth contributor to the wealthy self-made people under the age of 40 in India. Twelve of the 40 people on the list belonged to this sector.

Transportation and logistics, retail, entertainment, and financial services were the next best, with five each.

Bangalore was the most preferred city for business headquarters for these young wealth creators, the report said. The technical capital of the country housed 15 such individuals, followed by New Delhi (8) and Mumbai (5).

The three individuals from the list were outside India.

The wealthiest people in India under the age of 40 see a whopping 286% increase in wealth

https://www.bloombergquint.com/business/indias-richest-under-40-years-of-age-see-286-increase-in-wealth The wealthiest people in India under the age of 40 see a whopping 286% increase in wealth

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