Self-made, and under 40: Zerodha’s Kamaths top Hurun list of richest young Indians
With a wealth of ₹24,000 crore, Zerodha’s co-founders Nithin and Nikhil Kamath have topped the list of self-made richest Indians under 40, followed by Media.net founder Divyank Turakhia with about ₹14,000 crore.
Vu Technologies founder Devita Saraf is the only women in the list, with a wealth of ₹1,200 crore, while Oravel Stays Chief Executive Officer and Founder Ritesh Agarwal (26) is the youngest in the list. Agarwal has wealth of about ₹4,500 crore.
The brothers – Nithin (40 years old) and Nikhil (34) – co-founded online trading platform Zerodha and made nurtured it to India’s largest stockbroker by the number of clients. Divyank Turakhia (38) became a billionaire in 2016, after Media.net, a company that he founded in 2010, was sold for $1 billion, according to the ‘IIFL Wealth Hurun India 40 & Under Self-Made Rich List 2020’.
Udaan.com co-founders Amod Malviya (39), Sujeet Kumar (40) and Vaibhav Gupta (40) came third in the list that was compiled by IIFL Wealth and Hurun India. Their wealth increased by 274 per cent on the back of strong investor interest in the B2B commerce firm, Udaan.
“The IIFL Wealth Hurun India 40 and Under Self-Made Rich List represents the hottest rising stars in business from India, and all of them have achieved the remarkable milestone of entering the IIFL Wealth Hurun India Rich List before the age of 40,” Anas Rahman Junaid, Managing Director and Chief Researcher at Hurun India said.
“Some of them have fully or partly exited their core businesses and are setting up investment funds and backing other young entrepreneurs. This will have a compounding effect on the growth of disruptive entrepreneurship in India,” he added.
The self-made entrepreneurs cumulatively added a wealth of ₹44,900 crore, registering an increase of 59 per cent compared to last year. With nine of the richest from Bengaluru, the city is the most preferred as business headquarters for these young wealth creators, followed by Gurugram and New Delhi, with two each.
With a wealth of ₹7,800 crore, Riju Ravindran (39) of online education platform Byju’s secured the 6th spot. This comes on the back of Byju’s achieving a valuation of $10 billion in August 2020. His wealth rose 117 per cent from last year.
With a wealth of ₹7,500 crore each, Binny Bansal (37) and Sachin Bansal (39), co-founders of e-commerce platform Flipkart, shares the seventh position in the list. Since their exit from Flipkart, Binny Bansal has been investing in several start-ups as an angel investor, and Sachin Bansal has co-founded and is the CEO of Navi, a neo-bank start-up headquartered in Bengaluru.