India Inc billionaire promoter club: Count swells to record 152 in 2023

Mukesh Ambani back at the top ahead of Gautam Adani

The ranks of billionaire promoters of India’s listed companies swelled in 2023 to a record high of 152, with their combined net worth reaching an unprecedented $858.3 billion by the end of the year. This represents a 21 per cent increase in the number of billionaire promoters from 2022 (126) and a 16 per cent jump in their combined net worth from the previous year (around $739 billion).

The net worth of these billionaire promoters, as represented by the market value of their family’s stake in their companies, rose by 16.2 per cent in 2023. This outpaced the 15.5 per cent