Today we are taking a look at the top 10 youngest billionaires in India, their net worth, their age, their source of wealth, and more. Let’s start with the youngest billionaire of the country;
1. Nikhil Kamath
Net worth: $1.1B
Age: 37
In 2010, Nikhil Kamath co-founded Zerodha, a Bangalore-based discount brokerage, alongside his brother Nithin Kamath. Zerodha quickly disrupted the Indian brokerage market. They also run Rainmatter, a venture capital fund promoting fintech and financial inclusion, and True Beacon, an investment management firm catering to ultra-high net worth investors with a zero-fee model.
Check out the new billionaires in the Hurun Rich List 2024.
Nikhil Kamath achieved billionaire status in 2021 when Zerodha’s valuation exceeded $1 billion, making him one of India’s youngest self-made billionaires. His success is attributed to Zerodha’s growth.
2. Binny Bansal
Net worth: $1.4 B
Age: 40
Binny Bansal is an Indian entrepreneur and co-founder of Flipkart, one of India’s largest e-commerce companies. He and his friend Sachin Bansal (no relation) co-founded Flipkart in 2007.
The company started as an online bookstore and quickly expanded its offerings to become a comprehensive e-commerce platform.
Binny Bansal achieved billionaire status in 2015 when Flipkart’s valuation surpassed $10 billion. In 2018, Walmart acquired a significant 77% stake in Flipkart for a massive $16 billion, marking one of the largest deals in the history of internet firms at that time.
In July 2023, Binny Bansal sold his remaining 1.8% stake in Flipkart to Walmart in a deal that reportedly valued Flipkart at $35 billion. Binny Bansal is involved as an anchor investor in the venture firm 021 Capital, which focuses on investments in biotechnology, agritech, and internet-related startups.
His journey as a billionaire entrepreneur has made him a prominent figure in the Indian business landscape.
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3. Sachin Bansal
Net worth: $1.3 B
Age: 42
Sachin Bansal is the other partner of the e-commerce Flipakart. They embarked on this entrepreneurial journey with a modest initial investment of $6,000, which they sourced from their combined savings.
Flipkart quickly expanded its offerings to become a comprehensive online marketplace. After Wal-Mart bought a 77% stake in Flipkart for $16 billion, Bansal cashed out, selling his minority stake for $1 billion.
His privately held Navi Technologies which offers a range of financial products to middle-class customers has filed a draft red herring prospectus ahead of a proposed IPO.
4. Nithin Kamath
Net worth: $2.7 B
Age: 44
In 2010, Nithin Kamath co-founded Zerodha, a Bangalore-based discount brokerage, alongside his brother Nikhil Kamath (1st on the list). Zerodha currently has 10 million clients, making it one of the largest brokerage firms in the country.
5. Vijay Shekhar Sharma
Net worth: $1.00 B
Age: 45
Vijay Shekhar Sharma is an Indian entrepreneur and the founder of Paytm, one of India’s leading digital payment and financial services platforms.
Born on July 8, 1978, in Aligarh, Uttar Pradesh, India, Vijay Shekhar Sharma is renowned for his contributions to the Indian fintech industry through Paytm. In August 2018 by getting Warren Buffett’s Berkshire Hathaway to invest $300 million in Paytm.
6. Shamsheer Vayalil
Net worth: $3.6 B
Age: 46
Shamsheer Vayalil is a prominent Indian entrepreneur and the founder and chairman of Burjeel Holdings, a healthcare network comprising hospitals, clinics, and pharmacies located in the Middle East.
Born into a business-oriented family in the state of Kerala, India, Shamsheer Vayalil pursued his medical studies. After completing his education, he migrated to the Middle East to further his career.
Under Vayalil’s leadership, Burjeel Holdings has grown to include 16 hospitals and 24 medical centers, establishing itself as a prominent healthcare provider in the Middle East.
In October 2022, Burjeel Holdings went public, and this listing significantly boosted Shamsheer Vayalil’s net worth. The company strategically used Bollywood superstar Shah Rukh Khan as its brand ambassador to enhance its visibility and reputation.
7. Ravi Modi
Net worth: $3.3 B
Age: 46
Ravi Modi is an Indian entrepreneur and the founder of Manyavar, a well-known ethnic wear brand in India. He founded Manyavar in 1999 . He has established a vast retail network with 662 stores across 248 cities in India. Additionally, it operates 16 international stores, catering to the global Indian diaspora.
He sold 10% of his stake in May 2023. This move aimed to increase the company’s public holding to 25%, in line with the regulations set by the stock market regulator.
8. Karthik Sarma
Karthik Sarma | Hedge Fund Manager
Net worth: $2.9 B
Age: 48
Karthik Sarma is an Indian immigrant and accomplished hedge fund manager. He founded SRS Investment Management in 2006 after gaining experience at Tiger Global.
The fund manages around $10 billion in assets and owns 43% of Avis Budget Group. Karthik has served on Avis’s board since May 2020, and the stock’s surge in 2021, driven by plans to add electric vehicles to its fleet, contributed to the fund’s 35% return.
Karthik’s journey from a student at Princeton to a successful hedge fund manager showcases his financial acumen and strategic prowess.
9. Ranjan Pai
Net worth: $2.8 B
Age: 50
Ranjan Pai is the chairman of the Manipal Group, an conglomerate in education and healthcare. The group comprises 7 universities and 29 hospitals, and its roots trace back to 1953 when his grandfather, T.M.A Pai, established India’s first privately-owned medical school in Manipal, Karnataka.
Under Ranjan Pai’s leadership, the group has seen significant developments, including Temasek’s acquisition of a 59% stake in Manipal Hospitals in 2023, valuing the chain at $4.6 billion, while Pai retains a 30% stake.
Pai’s Manipal Global Education Services has expanded internationally, with campuses in Malaysia, Antigua, Dubai, and Nepal. His portfolio also includes Manipal Cigna Health Insurance.
Notably, Ranjan Pai has allocated $300 million for startup investments through Claypond Capital, his family office, reflecting his commitment to supporting entrepreneurship and innovation. His achievements and contributions in the fields of education, healthcare, and investments have solidified his status as a significant figure in India’s business landscape.
10. Radha Vembu
Net worth: $2.1 B
Age: 50
The only woman on the list, Radha Vembu is a billionaire entrepreneur and businesswoman known for her role in co-founding Zoho Corporation, a multinational technology company specializing in cloud-based software.
Radha Vembu was born and raised in a family with a strong academic background in Chennai, India. She pursued her education in engineering and holds a bachelor’s degree in Electrical and Electronics Engineering from the PSG College of Technology in Coimbatore.
Radha Vembu, along with her brothers Sridhar Vembu and Kumar Vembu, co-founded Zoho Corporation (formerly known as AdventNet Inc.) in 1996. The company was established with the vision of providing cloud-based software solutions to businesses of all sizes.
Under Radha Vembu’s leadership, Zoho Corporation has developed a wide range of cloud-based software products and applications, including customer relationship management (CRM) software, office suite software, and other business productivity tools. Zoho’s software products are used by businesses worldwide.
The data presented above is updated according to Forbes real time billionaire List as of November 2023.
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