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Richest New Age Tech Entrepreneurs Of India
The Harun Report has launched its 6th edition of the Hurun India Rich List for 2017 with 302 new faces. While Mukesh Ambani’s wealth shot up by a staggering 58%, this year, the tech entrepreneurs were not left behind. With a cut off at Rs. 1,000 crores, the 2017 list saw a record total of 136 billionaires. All the rich listers under the age of 40, according to the report, made their wealth from new technology business.
Media.net founder Divyank Turakhia of Directi Group tops the list of the richest new technology entrepreneurs. He bootstrapped the adtech company, Media.net, which was later acquired by Chinese tech conglomerate Miteno Communication Technology for $900 million. With a net worth of Rs. 11,000 crores ($1,76 billion,) Divyank Turakhia is the 70th richest Indian.
Founder of One97 Communications and India’s biggest digital wallet Paytm, Vijay Sekhar Sharma’s wealth rose over 23% this year. His net worth increased to Rs. 9,000 crores as the result of an increase in the valuation of his digital payments venture, making him the second richest tech entrepreneur. The massive increase in his revenue also made him a new entrant on the list of India’s richest 100 individuals.
Flipkart founders Binny Bansal and Sachin Bansal take up the third and fourth positions respectively. Flipkart’s valuation remained the same as last year, while the founder’s shares decreased to 6.6% from 7.9%. SoftBank’s investment at a higher valuation helped the founders regain some lost ground.
Kunal Bahl, the co founder of Snapdeal and co founders of Ola, Ankit Bhati and Bhavish Aggarwal, however, were not featured on the list this year. Homegrown cab aggregator, Ola, saw a steep decline in its valuation from $ 6 billion last year to around $ 2.5 billion this year. Meanwhile, Snapdeal’s co founder Kunal Bahl’s net worth also reduced as Snapdeal’s valuation fell to a sixth of its peak valuation of $ 6.5 billion.
Apart from the technology based entrepreneurs, this year’s rich list also saw an increase in women entrepreneurs. The total number of women on the list increased by 300% from 15 to 53 this year, out of which 8.6% are self made millionaires. Savitri Jindal, of OP Jindal Group, is the richest women in India with a net worth of Rs. 46,500 crores. She is followed by Smitha V Crishna, Director of Godrej and Indu Jain, Chairperson of the Time Group. Patanjali Ayurved’s primary stakeholder Acharya Balkrishna also made it to the list of the 10 richest Indians with a total wealth of Rs. 70,000 crore ($10.7 billion.) Lakshmi Mittal, Shiv Nadar, Azim Premji, Cyrus Poonawala, Gautam Adani, Uday Kotak and Sunil Mittal are the others in the top 10 along with India’s richest person, Mukesh Ambani.
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