Winning Bizness Desk
Mumbai.India’s billionaire count has jumped significantly in the latest Forbes World’s Billionaires list for 2026, reflecting strong gains in equity markets and business valuations. According to the global wealth tracker, India added 24 new billionaires over the past year, taking the total number from 205 in 2025 to 229 this year. The list also marks the debut of Physics Wallah founder Alakh Pandey and his co-founder Prateek Boob, whose edtech venture recently entered the public market.
Rise in India’s billionaire club this year
The expansion of the billionaire club highlights the continuing rise of Indian wealth creators across sectors including steel, banking, technology and education. Forbes notes that the new additions largely emerged due to stock market gains and successful public listings.
Key developments from the list include:
- India adds 24 new billionaires in one year
- Total billionaire count rises from 205 to 229
- New entrants include Physics Wallah founders
- The list features 20 Indian women billionaires
The Forbes rankings are based on shareholding patterns, financial disclosures, stock exchange filings, and estimates gathered from analysts and market data.
Lakshmi Mittal records biggest wealth surge
Steel tycoon Lakshmi Mittal, chairman of ArcelorMittal, witnessed the most dramatic increase in wealth among Indian billionaires this year. The sharp rally in ArcelorMittal’s shares, which climbed more than 80 percent over the past year, significantly boosted his fortune.
Mittal’s total net worth has now reached about 31 billion dollars, or nearly 2.87 lakh crore rupees. Over the last 12 months alone, his wealth jumped by 20 billion dollars, equivalent to about 1.85 lakh crore rupees.
This translates into an extraordinary average earning of around 274 crore rupees per day over the year, making him one of the fastest wealth creators in the country during the period.
Uday Kotak enters top ten richest Indians
Another notable development in the rankings is the entry of Kotak Mahindra Bank founder Uday Kotak into the list of India’s ten richest individuals. Kotak, who was recently awarded the Padma Bhushan, moved into the top ten as his financial services empire expanded.
With Kotak’s rise, DLF property developer Kushal Pal Singh slipped down the rankings to the 12th position. Meanwhile, Savitri Jindal, chairperson of the OP Jindal Group, retained her place as India’s richest woman and stood at number three overall among Indian billionaires.
The 2026 list continues to underline the growing presence of women among the ultra-rich, with a total of 20 Indian women billionaires featuring in the rankings.
Paytm founder returns after three-year gap
The latest Forbes list also marks the return of Paytm founder Vijay Shekhar Sharma to the billionaire club after a gap of three years. His re-entry comes after a strong rally in Paytm’s share price during the past year.
Important points linked to Sharma’s comeback include:
- Paytm shares rise nearly 60 percent last year
- tock still trades below its IPO price level
- Founder returns to global billionaire list after three years
Despite the recovery, the company’s stock continues to trade at roughly half the value of its original public offering price, reflecting lingering investor caution.
How Forbes compiles its rich list
Forbes India first introduced its rich list in 2009, creating an annual snapshot of the country’s wealthiest individuals. The ranking is prepared using a detailed analysis of ownership stakes, market capitalisation and available financial disclosures.
The methodology relies on multiple sources of data, including stock exchange filings, information provided by families and individuals, analyst reports and broader market intelligence.
Net worth for the rankings is calculated in US dollars, based primarily on publicly available assets and shareholdings at prevailing market prices.
