Latest News | Divyank Turakhia of Media.Net Wealthiest Indian Under 40: Report

Mumbai, Oct 13 (PTI) Divyank Turakhia of Media.Net has topped a list of the most-wealthy Indians under-40 years with a networth of Rs 12,500 crore.

Most of the 45 entrants in the 'IIFL Wealth-Hurun India 40 and Under Self-Made Rich List 2021' are start-up entrepreneurs and each has a networth of over Rs 1,000 crore.

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Browserstack co-founders Nakul Aggarwal (38) and Ritesh Arora (37) with wealth of Rs 12,400 crore each are second on the list, which has 31 new entrants this year.

With a networth of Rs 12,200 crore, Palo Alto-based Neha Narkhede and family of Confluent comes fourth in the list and is a new entrant.

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Ola's Bhavish Aggarwal saw his wealth more than double to Rs 7,500 crore in the year to September 15, and was placed ninth on the list which interestingly features Flipkart co-founders Sachin Bansal and Binny Bansal as well ranked above Aggarwal.

Bengaluru, widely recognised as India's Silicon Valley, is home to 42 of the 45 entrants on the list, it said.

From a sectoral perspective, software and services has the highest contribution, followed by transport and logistics, retail, entertainment and financial services.

"Number of ynder 40 self-made entrepreneurs in the rich list rose whopping nine times in five years. I expect this list to quadruple to 200 entrants in the next five years," Anas Rahman Junaid, founder and managing director of Hurun India, said.

IIFL Wealth's co-founder and Joint Chief Executive Officer Yatin Shah said, "The current economic landscape coupled with the power of technology and digital solutions has created an enabling environment for emerging entrepreneurs."

Shah added that while many young entrepreneurs are on their way to becoming unicorns, it is encouraging to see so many others who made successful exits and are now setting up investment funds to support innovative ideas and invest in other emerging entrepreneurs. HRS hrs

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