This person’s net worth jumped most in 2023. And it’s not Adani or Ambani

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Savitri Jindal with Abhyuday Jindal and Tim Cook (Photo: X/ @@abhyudayjindal)


In 2023, it was not Mukesh Ambani, Gautam Adani or Kumar Birla who added the most to their net worth. According to the Bloomberg Billionaires Index, it was Savitri Jindal who saw her net worth zoom the highest at $9.5 billion. As of December 19, Savitri is the richest woman in India with a net worth of $25.3 billion.


Savitri controls the OP Jindal Group, a $23 billion conglomerate set up by her late husband, Om Prakash Jindal. The New Delhi-based group has stakes in JSW Steel, JSW Steel & Power, JSW Energy, Jindal Saw and Jindal Stainless, among others.


Most of these companies have witnessed a bull run in 2023 on the Indian stock markets, contributing to Savitri’s gain in net worth. Her stake in JSW Steel currently stands at $7.20 billion, followed by $4.72 in Jindal Steel & Power.

The group also owns an 83 per cent stake in JSW Infrastructure, which went public in October this year. Since the listing, the company’s shares have zoomed over 44 per cent on the Indian bourses. According to Bloomberg, Savitri’s stake in JSW Infrastructure currently stands at $4.95 billion.


In terms of wealth gain, 73-year-old Savitri is followed by KP Singh, chairman and chief executive officer of real estate developer DLF Ltd. Singh’s net worth jumped from $7.15 billion to $15.4 billion in 2023. It was majorly due to the rally in realty stocks on the Indian stock exchanges.


DLF’s share price has jumped around 84 per cent in 2023 from Rs 380.25 on January 2 to Rs 699.65 apiece on December 19.


Singh was followed by Kumar Birla, chairman of the Aditya Birla Group. The conglomerate also owns a one-third stake in India’s biggest cement maker Grasim Industries. He also owns a 14 per cent stake in Aditya Birla Capital and 10 per cent in Vodafone Idea.


Mukesh Ambani of Reliance Group ranked 13 in the world, is the richest Indian, with a net worth of $92.3 billion. His net worth rose $5.16 billion in 2023. In net worth, he is followed by Gautam Adani, who has a net worth of $85.1 billion.


Adani’s wealth saw an erosion of a whopping $35.4 billion, mainly led by the sell-off following a report by USA-based short-seller Hindenburg Research.


Ambani and Adani were followed by Shapoor Mistry, son of Pallonji Mistry, who had a net worth of $34.1 billion. Mistry’s net worth zoomed by $6.26 billion in 2023. 

First Published: Dec 19 2023 | 1:46 PM IST