100 start-up founders make it to IIFL Wealth Hurun India Rich List 2022

BL Bengaluru Bureau | | Updated on: Sep 21, 2022
Daring to go against the tide hyejin kang

Daring to go against the tide hyejin kang | Photo Credit: hyejin kang

‘Start-up wealth creation will continue, although with new rules in the game’

For the first time in 11 years, 100 start-up founders were featured in IIFL Wealth Hurun India Rich List 2022, with a cumulative wealth of ₹5,06,000 crore and average age of 40. 

Of these 100 start-up founders, five made it to the Top 100 of the 2022 list, including Byju Raveendran and family (Byju’s), Falguni Nayar and family (Nykaa), Radha Vembu (Zoho), Nithin Kamath and family (Zerodha) and Vembu Sekar (Zoho).

The youngest richest person on the list was also a start-up founder, Kaivalya Vohra, the 19-year-old co-founder of quick grocery delivery app, Zepto. Co-founders of newly minted unicorn, PhysicsWallah, Alakh Pandey, and Prateek Maheshwari, also debuted in the list this year. They were both are ranked at 399th position with a wealth of ₹4,000 crore.

The cumulative wealth contributed by the Indian Unicorn and Gazelle listers to the rich list increased by 35 per cent to ₹3,14,000 crore this year. Wealth calculations are a snapshot as of August 30, and only includes individuals residing or born and bred in India.

Commenting on the launch, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said: “India’s bench strength or the pipeline of entrepreneurs can be understood best from the start-up ecosystem, which is the third largest in the world with more than 80,000 start-ups. It has the third-highest number of Unicorns and Gazelles in the world. IIFL Wealth Hurun India Rich List 2022 has 100 entrants from 59 start-ups and going forward, the share of start-ups is likely to increase manifold,” 

He added that the IPOs of some of the high-profile startups realigned the valuation spread between institutional and retail investors. Having said that, Hurun India believes the start-up wealth creation will continue, although with “new rules in the game”.

Published on September 21, 2022
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