On December 18 2024, Hurun India in partnership with IDFC First Bank Limited released the 2nd edition of ‘India’s Top 200 Self-made Entrepreneurs of the Millenia 2024’. As per the report, Radhakishan Shivkishan Damani, the founder of Avenue Supermarts Limited (DMart) has topped the list for 2nd consecutive year, with a valuation of Rs 3.4 lakh crore, witnessing a growth of 44%.
- While, Deepinder Goyal, Chief Executive Officer (CEO) of Zomato Media Private Limited is ranked at 2nd position (up from 3rd spot in 2023) and his net worth has significantly increased by 190%, to over Rs 2.5 lakh crore.
- He is followed by Sriharsha Majety and Nandan Reddy, founders of Swiggy Private Limited (India’s leading food delivery company) secured the 3rd spot on the list with net worth of Rs 1.01 lakh crore.
About India’s Top 200 Self-Made Entrepreneurs for 2024:
i.It compiled the list of 200 most valuable companies in India established after year 2000. The rankings are based on the market capitalization for listed companies and valuations for non-listed companies.
- The cut-off date for the list was 25th September, 2024.
ii.The total entrepreneurs featured on the list are from 46 cities across the country, with Bengaluru (Karnataka) leading the list with 98 entrepreneurs, followed by New Delhi (Delhi) and Mumbai (Maharashtra) with 73 and 51 entrepreneurs, respectively.
iii.As per the report, Bengaluru (with 66 companies)has emerged as the most prominent location for these self-entrepreneurs, followed by Mumbai and Gurugram(Haryana) with 36 and 31 companies, respectively.
iv.The combined valuation of companies on the list is Rs 36 lakh crores (USD 431 billion), marking a increase of 20% compared to 2023.
v.The threshold entry for a company to be featured on the list, has increased by 13% to Rs 3,400 crore.
Top 10 Self-Made Entrepreneurs of the Millennia 2024:
| Rank | Name of the Founders | Company Name | Headquarters | Valuation in Indian Rupee(INR) Crores |
|---|---|---|---|---|
| 1 | Radhakishan Damani | Avenue Supermarts | Mumbai, Maharashtra | 3,42,600 |
| 2 | Deepinder Goyal | Zomato Media Private Limited | Gurugram, Haryana | 2,51,900 |
| 3 | Sriharsha Majety, Nandan Reddy | Swiggy Private Limited | Bengaluru, Karnataka | 1,01,300 |
| 4 | Deep Kalra, Rajesh Magow | MakeMytrip Limited | Gurugram, Haryana | 99,300 |
| 5 | Abhay Soi | Max Healthcare Institute Limited | New Delhi, Delhi | 96,100 |
| 6 | Yashish Dahiya, Alok Bansal | Policy Bazaar | Gurugram, Haryana | 78,600 |
| 7 | Bhavit Sheth, Harsh Jain | Dream 11 Fantasy Private Limited | Mumbai, Maharashtra | 66,500 |
| 8 | Nithin Kamath, Nikhil Kamath | Zerodha Broking Limited | Bengaluru, Karnataka | 64,800 |
| 9 | Harshil Mathur, Shashank Kumar | Razorpay Software Private Limited | Bengaluru, Karnataka | 62,400 |
| 10 | Falguni Nayar | Nykaa | Mumbai, Maharashtra | 56,600 |
Key Highlights:
i.According to the report, 56 new founders and 32 companies have been added to India’s Top 200 Self-Made Entrepreneurs of the Millennium 2024 list.The number of billion-dollar companies founded by self-made entrepreneurs has risen by 15 per cent, with a total of 121 such companies now featured on the list.
- The combined value of all companies on this list totals Rs 36 lakh crore (US$431 billion), showing a significant 20% increase compared to last year.
ii.The list is dominated by the financial services sector, with 50 companies. While, Healthcare and Retail has 25 companies each.
iii.The report showed that total business value of these enterpreneurs is USD 431 billion (equivalent 25% of the value of India’s 200 Most Value Family Businesses), despite being founded within 24 years compared to latter’s 69-year average age.
- The combined valuation of 4 companies founded after 2020, valued at Rs 69,400 crores.
iv.As per the report, Kaivalya Vohra (22 year-old), co-founder of Zepto, has been again named as India’s youngest self-made entrepreneur.
Women on the List:
i.This year ranking includes 19 women entrepreneurs on the list, down from 20 in 2023. Among the total number of co-founders on the list, 4.9% are women.
ii.Falguni Nayar (ranked at 10th spot), the founder and CEO of Nykaa, has topped among all the Indian women entrepreneurs featured on the list, with total valuation of Rs 56,600 crore (30% increase compared to last year).
- She is followed by Neha Bansal, co-founder of Lenskart (with valuation of Rs 41,800 crore) and Kavitha Subramanian (with valuation of Rs 41,600 crore), co-founder of trading platform of Upstox.
iii.Some of the other prominent women entrepreneurs featured on the list are: Ghazal Alagh, founder of Mamaearth; Ruchi Deepak, co-founder of Bengaluru (Karnataka)-based Acko Insurance company; Srividhya Srinivasan, founder of Amagi Media Labs, among others.
About Hurun Report Inc. (Hurun Report):
It is a leading research, luxury publishing and events group established in 1998 in London, the United Kingdom (UK). Hurun India was launched in 2012.
Chief Executive Officer (CEO) – Rupert Hoogewerf
Managing Director (MD) and Chief Researcher (Hurun India)- Anas Rahman Junaid
Headquarters (Hurun India)- Mumbai, Maharashtra
About IDFC First Bank Limited:
Managing Director (MD) and Chief Executive Officer (CEO)- V. Vaidyanathan
Headquarters- Mumbai, Maharashtra
Established- 2018
Tagline- Always You First
