According to the Hurun Rich List 2023, India remains the third-largest billionaire-producing nation in the world, with Byju Raveendran retaining his position on the list
Despite the mass layoffs and reported losses by the edtech unicorn, founder, Byju Raveendran becomes the second richest entrepreneur from the education sector in the world with a wealth of $3.3 billion. Raveendran and his family have climbed 1,005 ranks over the last three years, ranking 994th on the M3M Hurun Global Rich List 2023.
There are currently 3,112 billionaires in the world, which is a decrease of 8 per cent or 269 from last year’s count of 3,381. However, this is still higher than the number of billionaires in the pre-Covid year of 2020 and more than double the number of billionaires ten years ago, which was 1,453.
Shiv Nadar, the founder of HCL Technologies, SSN College of Engineering and Shiv Nadar University has improved their ranking by 52 over the past five years with HCL. With a wealth of $26 billion, the family is currently the third-richest software and services billionaire in the world.
In terms of geographical distribution, Asia has more billionaires than North America and Europe. Although Asia accounts for 57 per cent of the world’s population, it has 59 per cent of new billionaires, 49 per cent of billionaires overall, and 39 per cent of the world’s wealth. In contrast, North America and Europe, which together have 15 per cent of the world’s population, account for 37 per cent of new billionaires, 46 per cent of billionaires overall, and 57 per cent of the world’s wealth.
Other finding show, China leads the Hurun global rich list in 2023 followed by the USA. Between them, China and USA have 53 per cent of billionaires in the world. India is in the third spot with 187.
The healthcare sector minted the most number of Indian dollar billionaires, followed by consumer goods and chemicals on the other hand financial services, healthcare and the retail sector minted more global billionaires.
For the third year in a row, the billionaire has maintained the title of wealthiest Asian. The RIL CEO honoured 20 years at the helm of Reliance, during which time the conglomerate’s revenues increased 17-fold and profit increased 20-fold.