Latest news with #HurunIndiaRichList
India.com
17 hours ago
- Entertainment
- India.com
This family once sold fruits on streets, now worth Rs 10000 crore, richer than Bachchans, Khans, Kapoors, Chopras, their name is...
This family once sold fruits on streets, now worth Rs 10000 crore, richer than Bachchans, Khans, Kapoors, Chopras, their name is... Bollywood has been a home to wealthy dynasties, with Bachchan, Chopras, Kapoors, Johars and Khans considered among the richest families. However, a recent study has revealed that one family that surpasses all of them with a staggering net worth is the Kumar clan, led by Bhushan Kumar, owner of T-Series, India's largest production companies and music labels. According to the Hurun India Rich List, Bhushan Kumar alone holds 80% of the family's Rs 10000 crore net worth and the remaining of the wealth is attributed to Bhushan's uncle, Krishan Kumar, who co-owns T-Series. Whereas Bhushan's sisters, Tulsi and Khushali Kumar, who are also part of the T-Series legacy, are valued at Rs 250 crore and Rs 100 crore respectively. It all started when Gulshan Kumar, father of Bhushan, Tulsi, and Khushali, worked as a fruit vendor in Delhi. His destiny changed when he and his father started the business of music cassettes, which eventually led to the establishment of Super Cassettes industries, and it later became T-Series, a synonymous name with Indian music and film production. Following Gulshan Kumar's death in 1997, his son, Bhushan Kumar took over the legacy. Under his leadership, T-Series evolved into a multimedia empire. Today, the company, beyond music is extended into film production, distribution and other multiple subsidiaries. After Bhushan Kumar's staggering wealth, Aditya Chopra's family, thanks to Yash Raj Films, comes on the list, which is worth Rs 8,000 crore. Shah Rukh Khan too made his debut on the list with an estimated wealth of Rs 7,300 crore, largely driven by his personal fortune. Meanwhile, megastar Amitabh Bachchan and his family is valued at Rs 1600 crore as per ETimes, positioning lower on the list as compared to other leading Bollywood families.
India.com
5 days ago
- Business
- India.com
Meet Richest Man In Ludhiana: Dropped Out At 14, Worked For Rs 30 A Day, Now Has Net Worth Of Rs 11,666 Crore, His Business…
photoDetails english Updated:Jun 04, 2025, 01:12 PM IST Billionaire Built From Scratch 1 / 8 The most inspiring success stories come from those who start with nothing. Rajinder Gupta, the founder of Trident Group, once worked as a labourer earning Rs 30 a day. Struggles in Early Life 2 / 8 Born into a family of cotton traders in Punjab, Gupta had a difficult start. Due to financial hardship, he had to drop out after Class 9. With no formal education or resources, he began working various small jobs — including making candles and cement pipes for Rs 30/day — to support his family. The Turning Point 3 / 8 In 1985, Gupta took a huge risk. Despite his limited background, he invested Rs 6.5 crore into a fertiliser business called Abhishek Industries. This was the beginning of his entrepreneurial journey, laying the foundation for what would later become Trident Group. Expansion Into Textiles and More 4 / 8 By 1991, Gupta had launched Katai Mill as a joint venture — a move that proved profitable. Over the years, his business diversified into textiles, paper, and chemicals, expanding operations across Punjab and Madhya Pradesh. Trident became a symbol of industrial success in North India. Trident Group's Global Presence 5 / 8 Today, Trident is a global player in home textiles and paper manufacturing. Its clients include international retail giants like Walmart, JCPenney, and Luxury and Linen. Trident's towels and bedsheets are among its top-selling products. Ludhiana's Richest Man – Hurun List 2024 6 / 8 As per the Hurun India Rich List 2024, Rajinder Gupta is the richest man in Ludhiana. Notably, he is also one of only two billionaires from the city, highlighting the scale of his impact on Ludhiana's industrial landscape. Recognition & Leadership Role 7 / 8 In 2007, Gupta was honoured with the Padma Shri by the Government of India for his contribution to trade and industry. Though he stepped down from Trident's Board in 2022 due to personal reasons, he continues to serve as Chairman of Trident Limited. Net Worth Journey 8 / 8 According to Forbes, Rajinder Gupta's net worth in 2024 stands at USD 1.6 billion (Rs 11,666 crore), up from USD 1.4 billion in 2023. However, it was even higher in 2022 — USD 2.6 billion. His journey from earning Rs 30/day to building a billion-dollar empire is a rare story of grit, vision, and relentless effort.
India.com
18-05-2025
- Business
- India.com
Meet Madhya Pradesh's richest person, his name is..., business and net worth are...
Vinod Agarwal Richest man of Madhya Pradesh: You must have heard the stories around who is the richest person of India but have you have ever though about who holds the status of richest person of your state. In our special series of wealthy individuals, we are covering today- the richest man of Madhya Pradesh and also the other top individuals who own the highest wealth in the state. Here are all the details you need to know. Vinod Agarwal: The richest man of Madhya Pradesh According to Hurun India Rich List, Vinod Agarwal is the richest person in Madhya Pradesh. Currently the owner of Agarwal Coal Company, Vinod is a resident of Indore and has a total wealth of about Rs 7,100 crore, as per a report carried by Zee News. Vinod Agarwal and the success of Agarwal Coal Talking on the professional front, Vinod Agarwal has over 40 years of business experience and his story is truly inspirational. Vinod is a merit holder who started working at the mere age of fifteen. Vinod Agarwal established Agarwal Coal in 1974, from where the company evolved to the largest coal importer in India, operating across 20 ports and serving over 1,500 clients, including major corporations like the Aditya Birla Group and Tata Group. Top wealthy people of Madhya Pradesh Dilip Suryavanshi, founder, chairman and MD of Dilip Buildcon Limited comes second in the Huron list. Dilip lives in Bhopal and has assets worth about Rs 3,800 crore. The third person on the list is Shyamsunder Mundhra, the owner of Ujas Energy Company. Mundhra's assets are estimated to be around Rs 3,500 crore.
Time of India
23-04-2025
- Business
- Time of India
Catch the nouveau riche! Income tax dept casts a new dragnet
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India is spawning a new rich class, especially in its small towns, which splurges on personal luxury goods with abandon but often escapes the income tax net. But not anymore. The July 2024 Budget had proposed to bring the expenses made on luxury goods by the rich under the ambit of TCS (Tax collected at source) if cost of luxury goods is more than Rs 10 lakh. This tax is now taking effect from April 22, 2025. From wrist watches to art pieces to yachts to handbags, purses and shoes to golf kits, a number of luxury goods will now attract with this new TCS, the government is not intending to bulk up its direct tax revenues. Once the TCS is collected from the buyer, it is the seller's duty to deposit the same against the buyer's PAN. Once the tax is deposited against the buyer's PAN, the buyer can use it to claim a tax credit and pay a lower tax in the ITR filing. The idea is to throw a light on luxury goods purchases so the rich can't escape the tax net or underpay their income government's move comes amid a rising number of the rich in India, especially in small towns, who splurge on luxury goods but might be under-reporting their luxury items over 10 lakh rupees are purchased in cash, it results in loss of tax revenue to the government as cash transactions go untraced. "The TCS will help the government in bringing under purview such individuals who report lower income in their tax returns and buy luxury items, questioning the credibility of income reported by such individuals. It aims to curb unaccounted cash transactions, improve transparency and tax compliance," Nainit Digesh Savla, owner of CA firm ND Savla and Associates, has told India's economy expands, disposable incomes rise and the size of the affluent population grows, consumers are increasingly gravitating toward premium products and luxury brands. This trend, which accelerated during the pandemic, shows no signs of slowing down. From luxury cars to high-end beauty products, India's affluent class is willing to spend on premium items that offer quality and exclusivity. This trend is also catching up in small towns where people are getting richer and are more willing to splurge on minted a new billionaire every five days in the last one year and took the total count of US dollar billionaires to cross the triple-century mark for the first time, as per the 2024 Hurun India Rich List which showed that India now has 334 billionaires by adding 75 compared to the last India report found a total of 1,539 individuals in India with a wealth of at least Rs 1,000 crore. If Rs 5,000 crore is taken as the threshold, the rich list has 534 HNIs. "Assuming that for every one Hurun rich lister we have found, we have probably missed two, India today likely has 5,000 individuals worth Rs 1,000 crore," Anas Rahman Junaid, Founder and Chief Researcher, Hurun India, said. The cumulative wealth of India's richest rose 46%, while average wealth has increased by 25%.Back in 2015, a CII-IMRB study had said that Growth in the country's luxury market would be driven by those living in tier 2 and 3 cities, as the aspirational class in non-metros acquires higher spending capacity,The study was based on responses from high net worth individuals (HNIs) in non-metropolitan cities, men and women in the age group of 20-55 years, with an annual household income of over Rs 1 crore about luxury product categories owned by them and how they accessed and engaged with luxury products/brands in a decade later, India's small-town rich are indeed driving luxury goods sales. Since they are a rising class, many of them can under-report their income and escape the tax scrutiny by buying luxury goods with cash which is still the king in non-metro locations.A recent report by Tata Cliq Luxury has revealed that smaller Indian cities are driving significant growth in luxury shopping, thanks to the increased access provided by online platforms. Towns like Botad in Gujarat and Asansol in West Bengal are seeing a surge in purchases of high-end footwear, watches, clothing, and fresh twist to India's wealth story, people in small towns are increasingly signing up for wealth management services such as portfolio management (PMS), alternative investment funds (AIFs), and wealth advisory, ET has reported recently. Startups offering these services say around 30% of their new users now come from beyond the top 18 state capitals. Founders of new-age wealth-tech startups Dezerv, Centricity and Ionic Wealth, among others, have told ET that multiple factors – including technological capabilities that have reduced the cost of servicing a single client, overall financial growth of the country, and improved access to information – are driving wealth advisory into smaller income-tax department is all set to catch this rising number of nouveau riche in its dragnet with the TCS on purchase of luxury goods.
