PTC News Desk: Savitri Jindal’s ascent in wealth during 2023 stands as an extraordinary feat, notably surpassing some of India’s most affluent figures like Mukesh Ambani and Gautam Adani. The Bloomberg Billionaires Index unveils this remarkable surge, propelling her to the position of the fifth-richest individual in India with a staggering net worth of $25.3 billion.
At 73-year-old, Savitri Jindal, recognised as India’s wealthiest woman, saw an unparalleled escalation in her fortunes, marking an astounding $9.6 billion surge in wealth over the course of the year. In comparison, Mukesh Ambani, the renowned chairman of Reliance Industries, India’s richest tycoon, experienced a more restrained increase of approximately $5 billion during the same period.
Although Ambani retains his zenith as India’s wealthiest, boasting a total fortune of $92.3 billion, Savitri Jindal’s meteoric rise has captivated considerable attention within financial circles and beyond. Her remarkable trajectory amid the economic landscape underscores a notable shift, positioning her among the elite echelons of India’s richest individuals.
In 2023, Savitri Jindal’s conglomerate, the OP Jindal Group, presided over major listed entities like JSW Steel, Jindal Steel & Power, JSW Energy, Jindal Saw, Jindal Stainless, and the investment firm JSW Holdings. A significant move came with the successful listing of JSW Infrastructure, where the OP Jindal Group holds an 83 percent stake. This listing, accomplished in October 2023, marks a milestone. Looking ahead, the Jindal family is setting sights on potentially listing JSW Cement in the forthcoming year, further solidifying their economic presence.
Trailing Savitri Jindal among the top gainers in wealth for 2023 is Shiv Nadar, the visionary behind HCL Tech. His net worth surged by an impressive $8 billion, reaching an approximate total of $32.6 billion. This remarkable growth owes much to the robust performance of HCL Tech shares, which witnessed a substantial 45 percent surge throughout the year, significantly bolstering Nadar’s financial standing.
Meanwhile, the real estate magnate KP Singh of DLF saw a substantial increase in his wealth, amassing an additional $7 billion to culminate at $15.4 billion in total wealth by year’s end. This surge was propelled by an 83 percent rally in DLF stock, riding the wave of a booming real estate market in India. Among industry stalwarts, Kumar Mangalam Birla and Shapoor Mistry also experienced notable increases in wealth, each accumulating $6.3 billion over the course of 2023. Mukesh Ambani’s wealth saw an incremental rise of $5.2 billion, while Dilip Shanghvi, the Managing Director of Sun Pharma, witnessed his net worth escalating by another $4.7 billion during the year.
Remarkably, Gautam Adani stands out as the sole prominent figure whose fortunes took a downturn in 2023. Despite a partial recovery in share prices, Adani experienced a significant decline of $35.4 billion in his wealth, concluding the year with an estimated net worth of $85.1 billion. This stark contrast amidst the wealth movements of notable individuals reflects the diverse trajectories witnessed within India’s economic landscape in 2023.
– With inputs from agencies