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Technology-media-telecom, manufacturing, and real estate have been top-performing sectors in South India and have produced a majority of the billionaires, says Hurun Report 2014.
Hurun Report is a research house and publishing group based in Shanghai. It concurrently publishes a Hurun China Rich List, Hurun India Rich List and a Hurun Global Rich List.
16% rise in wealth
On an average, wealth of South Indian billionaires moved up by 16 per cent compared to the national average of seven, according to rich list for the South made available to Business Line .
Bangalore is the billionaire capital of South India, says Anas Rahman Junaid, Publisher-At-Large, Hurun Report India. It is followed by Chennai and Hyderabad.
As much as 67 per cent of South Indian billionaires source their wealth primarily from their listed companies. This is comparable with that of the national average.
The richest is Azim Premji, 70, of Wipro with an estimated networth of ₹83,875 crore. Shiv Nadar’s HCL Technologies registered a gain of 118 per cent in stock markets, making him the highest gainer in the list.
The top three individuals in the South Indian billionaires’ list witnessed a huge gain in their net-worth.
Huge gains Azim Premji moved up by 77 ranks; Shiv Nadar by 105; and Dubai-based Micky Jagtiani by 290. Biggest loser is Kalanithi Maran, whose Sun Network’s stocks registered a decline.
Cumulative growth Mukesh Ambani of Reliance Industries continues to be the richest Indian with a net worth of ₹1.12 lakh crore ($18 billion), the Hurun India Rich List says.
Sixty per cent of India’s billionaires are self-made. It is as high as 83 per cent for South India.
“A renewed culture of home-grown entrepreneurship supported by a corruption-free government should create billionaires here at a pace comparable to that of China,” said Junaid.
India is ranked fifth on the Global Rich List with 89 billionaires, of which 70 currently reside in India and the rest have migrated to other countries.
Preferred sectors are manufacturing, pharma and technology-media-telecom. Of these, pharma rewarded investors most by raising their wealth by an average 25 per cent.
The average age of the India’s billionaires is 65; this is one year more than that of the average global billionaire.
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