For the first time, 100 founders from 59 start-ups featured in the IIFL Wealth Hurun India Rich List. Their cumulative wealth stood at Rs 5.06 lakh crore. 65 of these founders belong to 37 unicorns.
The founders’ average age was 40. “This has resulted in more young entrepreneurs entering the IIFL Wealth Hurun India Rich List. For instance, the youngest ten years ago was 37, last year was 23, and this year is 19,” Hurun India revealed.
Besides Falguni Nayar of Nykaa, other prominent founders who featured in the list this year include BYJU’S Founder Byju Raveendran (Rs 30,600 crore), Zerodha’s Nithin Kamath (Rs 24,200 crore) and Nikhil Kamath (Rs 17,500 crore), InfoEdge’s Sanjeev Bikhchandani (Rs 19,600 crore), CRED’s Kunal Shah (Rs 15,000 crore), upGrad’s Ronnie Screwvala (12,800 crore) Ola’s Bhavish Aggarwal (Rs 11,700 crore), Eruditus Education’s Ashwin Damera (Rs 11,200 crore), Zeta’s Divyank Turakhia (Rs 11,200 crore) and Bhavin Turakhia (Rs 10,800 crore).
Rahman Junaid shared, “The IPOs of some of the high-profile start-ups realigned the valuation spread between institutional and retail investors. We believe the start-up wealth creation will continue, although with ‘new rules in the game’.”
Alakh Pandey of Physics Wallah debuted on the list with a wealth of Rs 4,000 crore on the back of their edtech start-up turning unicorn.
Interestingly, startup posterboys and Flipkart founders Sachin Bansal and Binny Bansal dropped out of the top 200. Their respective fortunes stood at Rs 8,400 crore and Rs 8,100 crore.
Fintech, meanwhile, was a widely represented sector on the list, with 16 unicorns and 17 entrants in the IIFL Wealth Hurun India Rich List 2022. Of this, CRED, Upstox and OneCard were among the entrants this year.
“UPI is a phenomenal success. India has the highest fintech adoption rate and the fastest-growing fintech market in the world. Good regulation and a huge market — 80 million Indians made their first digital transaction after 2020 and 190 million are still unbanked — makes it the breeding ground for new wealth creation,” Hurun India added.
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