Mumbai, Aug 29 (PTI) Recouping the damage inflicted by the Hindenburg Research study, Gautam Adani's net worth increased by 95 percent to Rs 11.6 lakh crore last year, allowing him to displace Mukesh Ambani as India's richest person, according to a research released on Thursday.

According to the 2024 Hurun India Rich List, Ambani, Chairman and Managing Director of Reliance Industries, raised his entire net worth by 25% to Rs 10.14 lakh billion. According to the 2023 report, Adani's wealth has decreased by 57% to Rs 4.74 lakh crore, while Ambani's fortune has increased significantly to Rs 8.08 lakh crore.

It should be mentioned that Adani's net worth plummeted following multiple charges made by US-based short seller Hindenburg Research. The company has refuted all charges.

In the 2014 edition, Hurun estimated Adani's fortunes to be Rs 44,000 crore, making him the tenth richest Indian at the time.

Shiv Nadar and his family of HCL rose one rank to become the third richest in 2024, with a net worth of Rs 3.14 lakh crore, while Cyrus Poonawalla of Serum Institute of India fell one spot to fourth, with a net worth of Rs 2.89 lakh crore.

Radha Vembu of Zoho was the wealthiest among self-made women, with a fortune of Rs 47,500 crore, while Zepto co-founders Kaivalya Vohra and Aadit Palicha, both in their early twenties, were the youngest on the list, with net worths of Rs 3,600 crore and Rs 4,300 crore.

The list, which includes Indians with a net worth of more than Rs 1,000 crore, increased by 220 persons to 1,539 in 2024. The cumulative wealth has increased by 46 percent this year.

Actor Shah Rukh Khan debuted on the list with a wealth estimated at Rs 7,300 crore, well above his business partner Juhi Chawla's net worth of Rs 4,600 crore, who finished second among the entertainers.

Interestingly, 16 professionals made the list, with Arista Networks CEO Jayshree Ullal being the wealthiest at Rs 32,100 crore, followed by D-Mart CEO Ignatius Navil Noronha at Rs 6,900 crore, according to the magazine.

Gera Developments' Kumar Pritamdas According to the ranking, Gera's fortune increased the fastest, by 566 percent, in 2024, while Ambani and Adani had the most quantum rise.