How the most iconic billionaires of India built their empires and achieved a unicorn status

Today, we take you on a journey of a curated list of billionaires of India who have transformed the Indian economic scenario and stamped the name of India on the global level as an emerging economy and a force to be reckoned with.

India has approximately 120+ billionaires of which the people we are going to be talking about are the ones who are regular headline-makers. Some of them started on their own with meagre resources, some inherited their legacy and some are the new-age IT wizards. Most important of all, these are the people who are gave in their bit towards India becoming a trillion-dollar economy in just 70 years of it achieving independence.

Here’s a look at the life and times of some of India’s most iconic billionaires:

DHIRUBHAI AMBANI

• Estimated Net Worth: $2.9 billion
• Business Verticals: Reliance Commercial Corporation (later RIL), Reliance Infrastructure, Reliance Capital and Reliance Power

Born to a schoolteacher in Chorvad, Gujarat, Dhirubhai initially used to work as gas station worker in Yemen, laborer, bhajia seller, spice trader and eventually a yarn trader. He set up his own cloth mill, Reliance Textile Engineers in Ahmedabad during 1966 which marketed the famous ‘Vimal’ brand.

Reliance soon became public and became India’s third-most profitable company. Under his aegis, the company also forayed successfully into sectors like telecom (Reliance Telecom), LPG gas (Reliance Gas) which built the largest petrochemical refinery in the world at Jamnagar. At the time of his death, he was the 138th-richest person globally.

It his wealth that his sons Mukesh and Anil garnered and took forward. Mukesh is now the richest Indian in the world!

MUKESH AMBANI

• Estimated Net Worth: $47.3 billion
• Business Verticals: Reliance Industries

The chairman of Reliance Industries Limited (RIL) has led RIL to make it India’s most valuable company (by market value) and in the process he is the richest man in Asia since a decade. He is also the 13th richest person in the world.

Under his tenure, the company has seen tremendous progress with the discovery of India’s largest natural gas discovery in the Krishna Godavari basin, launch of many retail store chains like Reliance Fresh, Reliance Jewels, Reliance Digital, etc.

The company has also forayed into broadband services by acquiring Infotel (soon to launch Jio Gigafiber) and a telecom revolution under Reliance Jio which made cheap 4G services accessible to every Indian at 1/3rd of the market cost.

ANIL AMBANI

• Estimated Net Worth: $2.44 billion
• Business Verticals:

The younger brother of Mukesh Ambani and the chairman of Reliance ADAG split from his elder brother by investing his stake in Reliance into Reliance Power, 44 FM Radio Stations (BigFM), a DTH business (Reliance Big TV which is now DishTV Infra) and stakes in various animation studios (Adlabs, Reliance Mediaworks) and Big Cinemas multiplexes (now sold to Carnival group) across the country.

Due to various controversies and business losses Anil has had to sell stakes in majority of his ventures, but he is still one of India’s most iconic billionaires. He is credited with launching the country’s largest and fastest subscribed IPO of Reliance Power which was sold in 60 seconds!

AZIM PREMJI

• Estimated Net Worth: $21.5 billion
• Business Verticals: Wipro

The second-richest Indian and Chairman of Wipro Industries is also dubbed as the ‘Czar of the Indian IT Industry’ for helping Wipro reach global unicorn status in just 4 decades. He initially started managing his father’s cooking oil business called Western Indian Vegetable Products that sold Sunflower Vanaspati, ‘787’ soaps, toiletries, lighting systems and hydraulic machinery.

After IBM left India, Premji was one to capture the market by helping make minicomputers with an American company called Sentinel. He has pledged half of his wealth to charity.

LAKSHMI NIWAS MITTAL

• Estimated Net Worth: $ 18.3 billion
• Business Verticals: ArcelorMittal

The third-richest Indian, started his steel conglomerate with just Rs. 5000 and loan debt to build his empire that now serves over 75 countries in the world! There was a time when he was on the verge of bankruptcy but buying Arcelor Steel turned his fortunes around and he was once the richest Asian in Europe.

HINDUJA BROTHERS AND FAMILY

• Estimated Net Worth: $ 18 billion
• Business Verticals: Hinduja Group

Founded in 1914 by Parmanand Deepchandh Hinduja, the group now headquartered in Europe is managed by four sibling brothers namely, Gopichand, Prakash, Srichand and Ashok along with their children.

The company has various subsidiaries under their aegis such as Ashok Leyland (commercial and defense automobiles), IndusInd Bank, Hinduja Bank (Switzerland) Gulf Oil, Houghton International, almansoori, Nxt Digital HITS to name a few. These are spread across industries like automotive, media, telecom, banking, ITES, oil and gas, and financial services. Srichand and Gopichand are curently the wealthiest people in Great Britain.

PALLONJI MISTRY AND FAMILY

• Estimated Net Worth: $ 16.2 billion
• Business Verticals: Shapoorji Pallonji Group

Founded nearly 153 years ago (1865) by Pallonji Mistry, the group is now managed by Shapoorji Pallonji Mistry his grandson who has an 18.3% stake in Tata Sons making him the largest individual shareholder of the Tata Group.

The Group in itself is an engineering and construction conglomerate with interests in Power, Electrical Appliances, Textiles, Security Systems and Real Estate. Most of the bank buildings in the Mumbai region have been built by this group.

They have also built the Brabourne Stadium, Mumbai Central Railway Station, Girgaum Chowpatty in Mumbai and Barakhamba Metro Station and JLN Statdium in New Delhi.

They also co-produced the magnum opus 1960 Bollywood film Mughal-e-Azam.

SHIV NADAR

• Estimated Net Worth: $ 14.6 billion
• Business Verticals: HCL and SSN College of Engineering

The founder Chairman of HCL Technologies (est. 1976) transformed the company that initially made calculators and microprocessors to an IT enterprise that now also supplies ITES services globally.

Incidentally, HCL was established in a garage with a shoestring budget of just 1,87,000 rupees. Nadar has committed $1 billion of his money to philanthropy.

ADI GODREJ AND FAMILY

• Estimated Net Worth: $14 billion
• Business Verticals: Godrej Group

Founded in 1897 by Ardeshir Godrej, this 121-year-old consumer-goods giant works in areas like locking mechanisms, real estate, furniture, industrial automotive, agricultural and consumer products which are managed by Godrej Industries Ltd, Godrej Infotech Ltd, Godrej Agrovet, GCPL, Godrej Properties, and Godrej & Boyce.

The company manufactures locks, safes, indigenous typewriters (closed in 2011), forklift trucks, vegetable oil, soaps, tea, Hershey’s chocolate syrup, etc. The company recently entered the IT industry with a non-web based mobile browser called FreeG in 2014. The Group has pledged 25% of its wealth to philanthropy by investing in trusts like WWF, Teach for India, Smile Train, etc.

KUMAR MANGALAM BIRLA

• Estimated Net Worth: $12.5 billion
• Business Verticals: Aditya Birla Group, Vodafone Idea Limited

The fourth-generation member of the Birla family, is an MBA and CA. At the age of 28, after becoming chairperson of the Aditya Birla Group, he helped the company spearhead its turnover from $3.3 billion to $48.3 billion in just 24 years. His success is owed to his acumen for forming strategic partnerships and takeovers like UltraTech Cement, Hindalco Industries, Pantaloons Fashion & Retail, Aditya Birla Capital, Grasim Industries and the recently completed consortium of Vodafone Idea which is the largest telecom company in the world by share capital.

GAUTAM ADANI

• Estimated Net Worth: $ 11.9 billion
• Business Verticals: Adani Group

A college dropout, Adani as a teenager initially was a diamond sorter earning mere 100 rupees per day before launching his own diamond brokerage firm in Mumbai’s famous Zaveri Bazaar in 1978. He was never interested in running his father’s textile business and later his interest came in polyvinyl chloride (PVC) imports that imported polymers from around the world.

This unit soon became Adani Exports Limited and soon forayed into agricultural and power commodities under the name of Adani Enterprises Limited. Later, he diversified into developing the Mundra Port in Gujarat (largest private port in India) under Adani Ports & SEZ Limited. Now, Adani Power Limited also operates the largest private thermal power unit of the country as well.

KIRAN MAZUMDAR-SHAW

• Estimated Net Worth: $ 2.65 billion
• Business Verticals: Biocon

Mazumdar-Shaw, the founder of Biocon is India's richest self-made woman. The company founded in 1978 with just 10,000 rupees is India's largest biopharmaceutical firm which was also the first Indian company to gain USFDA approval for two different biosimilars that aim to cure cancer.

Her philanthropic initiatives include the launch of a R&D-based biotech analysis wing and the Mazumdar Shaw Medical Centre at Bangalore in collaboration with the Narayana Health Group which aims to make cancer care highly affordable in India.

ANAND MAHINDRA

• Estimated Net Worth: $1.81 billion
• Business Verticals: Mahindra Group

The Chariman of the Mahindra Group was initially an employee at Mahindra Ugine Steel Company Ltd (MUSCO) before becoming the President of the company. In very short time, he became the head honcho of the Mahindra Group which is currently valued at $19 Billion under his leadership.

He has donated $10 million to charity and is also the founder of the Nanhi Kali project which supports the education of over 1,30,000 underprivileged Indian girls.

RADHAKISHAN DAMANI

• Estimated Net Worth: $11.2 billion
• Business Verticals: DMart Supermarket Chain

Initially a stockbroker, Damani ventured into the retail industry with his savings in 2002. The first DMart Store opened in Mumbai and became really popular locally. His supreme success is owed to the IPO he launched in the name of Avenue Supermarts with which his single store soon became a retail chain. His net worth has also increased with his holdings in VST Industries and India Cements.

DILIP SHANGHVI

• Estimated Net Worth: $ 12.6 billion
• Business Verticals: Sun Pharmaceuticals

Starting with a shoestring budget of just Rs. 10,000, he initially was a medicine distributor before the launch of Sun Pharma, his brainchild. There was a time when he was the richest Indian when he briefly passed Mukesh Ambani in net worth.

KARSANBHAI PATEL

• Estimated Net Worth: $3.35 billion
• Business Verticals: Nirma Industries

The scion of the Nirma Group initially used to make washing detergent at home and used to sell it on the sidelines of his government job in Ahmedabad. He finally marketed Nirma in 1969 at lower than market rates and its quality and low price was an instant hit!

ANIL AGARWAL

• Estimated Net Worth: $ 3.73 billion
• Business Verticals: Vedanta Resources (Sterlite Industries)

Initially a scrap metal dealer, Anil had left home at the tender age of 19 to make it big in life. His first acquisition Shamsher Sterling Corporation soon became Sterlite Industries and acquired Madras Aluminium as well.

To access international markets, the company was rebranded as Vedanta Resources Plc. Under his philanthropic ventures, Anil has pledged 75% of his personal wealth to charity.

SAVITRI JINDAL AND FAMILY

• Estimated Net Worth: $ 5.8 billion
• Business Verticals: Jindal Group

Wife of late founder of Jindal Steel and Power Limited (JSPL) OP Jindal and Chairperson of the Jindal Group, Savitri a legislator, is India’s richest woman by company value. Under her leadership the collective group commands a whopping $18 billion annual revenue.

The Jindal Group was divested into their four sons after the death of their father. The companies they control are Jindal Power & Steel, JSW Steel, Jindal Power Ltd, Jindal Petroleum Ltd., Jindal Cement Ltd., Jindal Stainless Limited (JSL), Jindal Intellicom and Jindal Steel (Bolivia), to name a few.

RAKESH JHUNJHUNWALA

• Estimated Net Worth: $2.6 billion
• Business Verticals: Aptech, Hungama Digital Media

Dubbed as the ‘Warren Buffett of India’, Rakesh owns an asset management firm called Rare Enterprises. He chairs the boards of Aptech and Hungama Digital Media and is a director in various companies like Prime Focus, Provogue, Concord Biotech, Mid-Day, Viceroy Hotels, etc.

He is also an ace investor whose investments in A2Z Maintenance bumped his valuation to a billionaire. He has pledged 25% of his wealth to charity.

NARAYANA MURTHY

• Estimated Net Worth: $2.4 billion
• Business Verticals: Infosys

An IIT Kanpur alumnus, Murthy initially worked in Paris. Later, he co-founded Infosys with Rs. 10,000 borrowed from his wife and the spouses of his six software engineer partners. Within the next two decades Infosys was one of the leading global software and IT services firms in the world and it was also the first-ever Indian company listed on the American stock exchange.

DIV TURAKHIA

• Estimated Net Worth: $ 1.55 billion
• Business Verticals: Media.net, Directi Groip

He started coding at the age of 8 and was the Youngest Billionaire from India in 2016, 2017 and 2018. He initially took a loan of $500 from his father to open Directi in 1988 which was a web-hosting business he and his brother opened within their parent’s house.

His company Media.net was sold to a Chinese consortium for approx. $900 million which makes it the third-largest ad-tech deal ever!

VIJAY SHEKHAR SHARMA

• Estimated Net Worth: $ 2.15 billion
• Business Verticals: Paytm (one97 Communications)

A software engineer by profession, he sold his first website indiasite.net for a whopping $1 Million in 1997 while in college. After this, he launched One97 which offers online recharges, online ordering, exam updates and news via different verticals. He was India’s youngest billionaire in the end of year 2017.

BYJU RAVEENDRAN

• Estimated Net Worth: $ 1.1 billion
• Business Verticals: Byju’s

Say hello to India’s newest billionaire! A former class teacher whose venture Think & Learn Pvt. Ltd. (which powers the online learning app Byju’s) recently hit a valuation of $5.7 billion with investments from big names like Tencent Holdings and Sequoia Capital. The company is soon going to partner with Walt Disney Co. to take the app to American shores.

Most of these Indian entrepreneurs are not even 50-year olds. They started with very humble beginnings way before India’s startup boom exploded. With chess-like precision, money-making skills and swift entrepreneurial acumen, these talented people have shown the world what Indians can do.

We hope this post inspires you all to inculcate in yourselves a right mix of perseverance, business leadership, ambition, investment skills and the importance of putting in bounties of labor and hard work to achieve your benchmarks.

Jai Hind!