For as long as we can remember, Hinduja Brothers – who are settled in London – have sat on the peak of the list of Richest Indian NRIs. And, with 2020, the story hasn’t changed much. According to the IIFL Wealth Hurun India Rich List 2020, they have an impressive wealth of Rs 1,43,700 to their name. Interestingly, the list had a record 161 new additions from last year’s, while most are young, self-made and homebred, only one – Mukesh Jagtiani – is part of this list. Operating from Dubai, and more commonly known as Micky Jagtiani, a boom in his retail business has warranted this climb. On the overall list, Jagtiani is on the 50th spot, while Hinduja brothers are on the 2nd. Let’s take a look at the top riches non-residing Indians.
These are top 10 richest Indian NRIs of 2020
1. Hinduja Brothers
Wealth: Rs 1,43,700 crore
Company: Hinduja
Residence: London, Geneva, Mumbai
The dispute among the eldest brother Srichan and three younger brothers, as per a U.K. court filing, still looms large on their collective growth. However, their fortunes continued to climb as they registered a combined net worth of $12.8 billion.
2. Shapoor Pallonji Mistry
Wealth: Rs 76,000 crore
Company: Shapoorji Pallonji
Residence: Monaco
Exercising control at the Mumbai-headquartered engineering and construction giant, Shapoorji Pallonji Mistry is now the second richest Indian NRI. The Irish-born Indian, who also holds an Irish citizenship, now resides in Monaco handling operations remotely. This has been made easy by his son Cyrus Pallonji Mistry taking control of the proceedings at the Mumbai office.
3. Jay Chaudhry
Wealth: Rs 65,800 crore
Company: Zscaler
Residence: San Jose
One of the few self-made billionaires on this list, Jay Chaudhry also holds the 85th rank on the richest people in America Forbes list. Chaudhry started the super successful journey in 1996: He and his wife assembled their savings and made the long trip to The States. After launching SecureIT and Zscaler (in 2008), Chaudhry extended his grip on the cybersecurity industry. As the company went public in 2018, it resulted in massive gains for Chaudhry and subsequently the 3rd spot on the list of Richest Indian NRIs.
4. Laxmi Mittal
Wealth: Rs 60,700 crore
Company: ArcelorMittal
Residence: London
The big game player, Laxmi Mittal has been part of lists about Richest Indians for almost two decades now. The Indian steel magnate is one of the few self-made billionaires in this list. Now, a permanent US citizen, Mittal resides in London. ArcelorMittal – his steel company – was victim to the Covid-19 pandemic and witnessed a 43 per cent loss in the past year. The main reason why Mittal has slipped to the 4th position on this list.
5. Yussuff Ali MA
Wealth: Rs 42,700 crore
Company: Lulu
Residence: Abu Dhabi
The biggest move for LuLu Group International, Yussuff Ali MA’s LuLu Hypermarket chain worldwide and LuLu International Shopping Mall, was an investment from Abu Dhabi’s royal family, offering them 20% stake. In his most recent philanthropic act, Yussuff Ali also built and donated a treatment center in Kerala with 1,400 beds, along with his Rs 50 crore donation.
Others on the Richest Indian NRIs of 2020 list
6. Vinod Shantilal Adani
Wealth: Rs 42,200 crore
Company: Adani
Residence: Dubai
7. Anil Agarwal and family
Wealth: Rs 32,500
Company: Vedanta Resources
Residence: London
8. Sri Prakash Lohia
Wealth: Rs 28,000 crore
Company: Indorama
Residence: London
9. Sunny Varkey
Wealth: Rs 22,400 crore
Company: Gems Education
Residence: Dubai
10. Mukesh Jagtiani
Wealth: Rs 21,200
Company: Landmark
Residence: Dubai
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GQ India