Co-founders of Razorpay, Harshil Mathur and Shashank Kumar, at the age of 33 have been named among the youngest Indian billionaires on the Hurun Rich List 2024. The duo's&nbsp;individual net worth is estimated to be $1.03 billion, according to Y Combinator.

After noticing the bleak state of the online payments sector in India, the two friends started their journey to build Razorpay in 2014, according to Y Combinator. Founded by the two IIT Roorkee graduates, the company provides financial solutions to make digital payments for Indian businesses easy.

The company, which was previously valued at $1 billion, surged to $7.5 billion over the years.&nbsp;

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Mathur, who earlier worked with Schlumberger, writes in his LinkedIn bio: “After discovering the dismal state of online payments in India, I quit my full-time job as a Wireline Field Engineer at Schlumberger to start Razorpay along with my friend and partner in crime Shashank Kumar. I am the CEO and co-founder of Razorpay and our company’s mission is to simplify payments.”

Kumar studied Computer Science at IIT-Roorkee and is the co-founder and managing director at Razorpay.

The two met during their course at IIT Roorkee and started collaborating on various projects. The duo&nbsp;shared a love for coding and then started&nbsp;their own venture.

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"Many of the codes we wrote during our college days are still the backbone of Razorpay's operations today,” said Mathur.

Both Mathur and Kumar are based in the Indian city of&nbsp;Bengaluru, where 27 Indian billionaires reside including Wipro’s Azim Premji. The&nbsp;Indian businessman and philanthropist&nbsp;is the richest person in Bengaluru as per the Hurun Rich List 2024.

The top youngest entrepreneurs in India are Kaivalya Vohra and Aadit Palicha who are aged 21 and 22, the founders of Zepto, one of the most prominent online grocery brands in India.

Palicha’s estimated net worth is valued at $512 million, while Vohra's is valued at $429 million.

(With inputs from agencies)

Co-founders of Razorpay, Harshil Mathur and Shashank Kumar, at the age of 33 have been named among the youngest Indian billionaires on the Hurun Rich List 2024. The duo's individual net worth is estimated to be $1.

Co-founders of Razorpay, Harshil Mathur and Shashank Kumar, at the age of 33 have been named among the youngest Indian billionaires on the Hurun Rich List 2024. The duo's individual net worth is estimated to be $1.03 billion, according to Y Combinator. After noticing the bleak state of the online payments sector in India, the two friends started their journey to build Razorpay in 2014, according to Y Combinator. Founded by the two IIT Roorkee graduates, the company provides financial solutions to make digital payments for Indian businesses easy. The company, which was previously valued at $1 billion, surged to $7.5 billion over the years. Also Read | Brazil Supreme Court justice threatens to shut down X operations over legal representation dispute Mathur, who earlier worked with Schlumberger, writes in his LinkedIn bio: “After discovering the dismal state of online payments in India, I quit my full-time job as a Wireline Field Engineer at Schlumberger to start Razorpay along with my friend and partner in crime Shashank Kumar. I am the CEO and co-founder of Razorpay and our company’s mission is to simplify payments.” Kumar studied Computer Science at IIT-Roorkee and is the co-founder and managing director at Razorpay. The two met during their course at IIT Roorkee and started collaborating on various projects. The duo shared a love for coding and then started their own venture. Also Read | Berkshire Hathaway becomes first US non-tech firm to hit $1 trillion market cap "Many of the codes we wrote during our college days are still the backbone of Razorpay's operations today,” said Mathur. Both Mathur and Kumar are based in the Indian city of Bengaluru, where 27 Indian billionaires reside including Wipro’s Azim Premji. The Indian businessman and philanthropist is the richest person in Bengaluru as per the Hurun Rich List 2024. The top youngest entrepreneurs in India are Kaivalya Vohra and Aadit Palicha who are aged 21 and 22, the founders of Zepto, one of the most prominent online grocery brands in India. Palicha’s estimated net worth is valued at $512 million, while Vohra's is valued at $429 million. (With inputs from agencies)

Hurun Rich List 2024: Razorpay founders named youngest Indian billionaires

India added two billionaires every three weeks last year and now has 259 billionaires, states the 360 ONE Wealth Hurun India Rich List 2023. ,

The latest rich list, a collaboration between 360 ONE Wealth and Hurun India, notes that India’s rich are cumulatively worth Rs 108 lakh crore (approximately $1.3 trillion) — an increase of 8.5 per cent compared to last year.

"The list is a testament to the remarkable growth and dynamism of India’s economy. The cumulative wealth of our listers has surged past the combined GDP of Singapore, UAE, and Saudi Arabia," says Yatin Shah, Joint CEO, 360 ONE Wealth.

With a total net worth of over Rs 8.08 lakh crore, Reliance Industries Chairman Mukesh Ambani has overtaken Adani Group founder Gautam Adani to secure the richest Indian title, says the report. Notably, Adani's fortune, which now stands at 4.74 lakh crore, has fallen 57 percent in a year, following the Hindenburg report.

Cyrus Poonawala, who owns the vaccine-maker Serum Institute of India, is third on the list, while HCL's Shiv Nadar and UK-based Indian billionaire Gopichand Hinduja are fourth and fifth in the rich list, respectively.

The report finds that 1,319 individuals have a net worth of over 1,000 crore ($120 million), which is an increase of 76 per cent over the last five years. Moreover, the rich list has 278 new faces, who cumulatively won wealth worth Rs 7,28,200 crore ($88 billion).

Calling India a “shining moon” in an uncertain global economy, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, adds, "India has welcomed so many fresh faces even in what's termed a 'challenging year'. This surge in billionaires&nbsp;is the second most prolific since the list's inception in 2012."

Radha Vembu of Zoho has overtaken Nykaa's Falguni Nayar to become the richest self-made woman in the latest list. It is worth noting that Nykaa's shares have been underperforming, compared to its peers in the consumer tech sector.

Bengaluru-based Kaivalya Vohra, 20, who founded the grocery delivery start-up Zepto, is the youngest self-made rich individual. Thirty-eight-year-old Neha Narkhede,&nbsp;founder of Confluent, a streaming data technology company, is the youngest self-made woman entrepreneur.

But at 94, Mahendra Ratilal Mehta, founder of Precision Wires India, has proven that age is just a number, debuting in the 2023 rich list.

A record 871 entrepreneurs or 66 per cent of them are self-made or, in other words, first-generation wealth creators. This figure stood at just 367 five years ago. In addition, 186 of the 278 new faces this year are self-made.

India 's Tier-X cities — popularly called as 'metros' — continue to be a hub for the wealthy. With 328 individuals, Mumbai tops the rich list followed by New Delhi (199) and Bengaluru (100).

In a clear sign of India's diversifying economy, 21 new cities have made their debut in this year's list. Telangana's Ranga Reddy, Chhattisgarh's Rajnandgaon, and Uttar Pradesh's Ghaziabad have contributed more than one entrepreneur to this year's list.

India added two billionaires every three weeks last year and now has 259 billionaires, states the 360 ONE Wealth Hurun India Rich List 2023. , The latest rich list, a collaboration between 360 ONE Wealth and Hurun India, notes that India’s rich are cumulatively worth Rs 108 lakh crore (approximately $1.

India added two billionaires every three weeks last year and now has 259 billionaires, states the 360 ONE Wealth Hurun India Rich List 2023. , The latest rich list, a collaboration between 360 ONE Wealth and Hurun India, notes that India’s rich are cumulatively worth Rs 108 lakh crore (approximately $1.3 trillion) — an increase of 8.5 per cent compared to last year. "The list is a testament to the remarkable growth and dynamism of India’s economy. The cumulative wealth of our listers has surged past the combined GDP of Singapore, UAE, and Saudi Arabia," says Yatin Shah, Joint CEO, 360 ONE Wealth. With a total net worth of over Rs 8.08 lakh crore, Reliance Industries Chairman Mukesh Ambani has overtaken Adani Group founder Gautam Adani to secure the richest Indian title, says the report. Notably, Adani's fortune, which now stands at 4.74 lakh crore, has fallen 57 percent in a year, following the Hindenburg report. Cyrus Poonawala, who owns the vaccine-maker Serum Institute of India, is third on the list, while HCL's Shiv Nadar and UK-based Indian billionaire Gopichand Hinduja are fourth and fifth in the rich list, respectively. The report finds that 1,319 individuals have a net worth of over 1,000 crore ($120 million), which is an increase of 76 per cent over the last five years. Moreover, the rich list has 278 new faces, who cumulatively won wealth worth Rs 7,28,200 crore ($88 billion). Calling India a “shining moon” in an uncertain global economy, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, adds, "India has welcomed so many fresh faces even in what's termed a 'challenging year'. This surge in billionaires is the second most prolific since the list's inception in 2012." Radha Vembu of Zoho has overtaken Nykaa's Falguni Nayar to become the richest self-made woman in the latest list. It is worth noting that Nykaa's shares have been underperforming, compared to its peers in the consumer tech sector. Bengaluru-based Kaivalya Vohra, 20, who founded the grocery delivery start-up Zepto, is the youngest self-made rich individual. Thirty-eight-year-old Neha Narkhede, founder of Confluent, a streaming data technology company, is the youngest self-made woman entrepreneur. But at 94, Mahendra Ratilal Mehta, founder of Precision Wires India, has proven that age is just a number, debuting in the 2023 rich list. A record 871 entrepreneurs or 66 per cent of them are self-made or, in other words, first-generation wealth creators. This figure stood at just 367 five years ago. In addition, 186 of the 278 new faces this year are self-made. India 's Tier-X cities — popularly called as 'metros' — continue to be a hub for the wealthy. With 328 individuals, Mumbai tops the rich list followed by New Delhi (199) and Bengaluru (100). In a clear sign of India's diversifying economy, 21 new cities have made their debut in this year's list. Telangana's Ranga Reddy, Chhattisgarh's Rajnandgaon, and Uttar Pradesh's Ghaziabad have contributed more than one entrepreneur to this year's list.

Decoding the 360 ONE Wealth Hurun India Rich List 2023 

A ranking of the most generous individuals in India has revealed that India's top donor Shiv Nadar and family have donated more than Rs.3cr ($363K) every day, and their annual donation amounts to 1,161cr for the year 2022. Shiv Nadar is an Indian billionaire industrialist and philanthropist; he is the Founder and Chairman Emeritus of HCL technologies.&nbsp;

According to the 'EdelGive Hurun India Philanthropy List 2022' released on Thursday, the donations of India's top wealthy individuals (who donated over Rs.5cr) was measured by the value of their cash or cash equivalents from 1 April 2021 to 31 March 2022.&nbsp;

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Commenting on the launch, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, “EdelGive Hurun India Philanthropy List aims at chronicling the Indian philanthropy landscape and so far, the transformation is encouraging. For instance, over the last 5 years, number of donors who have given more than Rs.100 crore have grown from 2 to 15, and over Rs.50 crore have grown from 5 to 20. Considering wealth creation potential of India and assuming that the billionaires keep up with philanthropy, I expect these numbers to at least double over the next 5 years.”

<div class="ui-state-default" contenteditable="false">
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<blockquote class="twitter-tweet">
India’s top <a href="https://twitter.com/hashtag/Philanthropist?src=hash&amp;ref_src=twsrc%5Etfw">#Philanthropist</a> #2022 is from <a href="https://twitter.com/hashtag/TamilNadu?src=hash&amp;ref_src=twsrc%5Etfw">#TamilNadu</a> 
 
List: 
 
Shiva Nadar&amp; family donated Rs1161cr <a href="https://twitter.com/hcltech?ref_src=twsrc%5Etfw">@hcltech</a> 
 
Azim Premji&amp; family donated Rs484cr<a href="https://twitter.com/Wipro?ref_src=twsrc%5Etfw">@Wipro</a> 
 
Mukesh <a href="https://twitter.com/hashtag/ambani?src=hash&amp;ref_src=twsrc%5Etfw">#ambani</a> &amp; family donated Rs411cr <a href="https://twitter.com/hashtag/RelianceIndustries?src=hash&amp;ref_src=twsrc%5Etfw">#RelianceIndustries</a> 
 
Data as per <a href="https://twitter.com/HurunReportInd?ref_src=twsrc%5Etfw">@HurunReportInd</a> <a href="https://twitter.com/hashtag/india?src=hash&amp;ref_src=twsrc%5Etfw">#india</a> <a href="https://twitter.com/hashtag/donor?src=hash&amp;ref_src=twsrc%5Etfw">#donor</a> <a href="https://twitter.com/hashtag/indian?src=hash&amp;ref_src=twsrc%5Etfw">#indian</a> <a href="https://twitter.com/hashtag/rich?src=hash&amp;ref_src=twsrc%5Etfw">#rich</a> <a href="https://t.co/MrdPmdrvuh">pic.twitter.com/MrdPmdrvuh</a>
— Sidharth.M.P (@sdhrthmp) <a href="https://twitter.com/sdhrthmp/status/1583039808741740545?ref_src=twsrc%5Etfw">October 20, 2022</a></blockquote>
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The report also points out, Contributions towards philanthropy have fallen in FY22 basically due to the huge base effect of pandemic spending and an exceptional contribution of Rs.7,807 crore last year by Azim Premji to his two philanthropic trusts. The individuals featuring the Top 10 of the Philanthropy list in 2022 cumulatively donated Rs.3,378cr in FY22, as against a combined donation of Rs.12,785 crore in 2021.&nbsp;

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Shiv Nadar and family who topped the list and contributed majorly towards Education, Arts and&nbsp;Culture are followed by Azim Premji and family who donated Rs.484cr. According to the report, The Azim Premji Foundation India Private Limited is perhaps one of the largest endowments in the world valued at US$21bn. The primary goal of the Foundation is to contribute to a society that is “a just, equitable, humane and sustainable society” as envisaged in the Constitution of India.

Mukesh Ambani and family of Reliance industries were third on the list, with a contribution of Rs.411cr. the report says that, he channelizes charitable activities through Reliance foundation with focus on education and healthcare. It adds, Reliance produced 1,000 tonnes of oxygen every day during the second wave of COVID and provided it free for over 1 lakh patients. Besides, it set up 2,000 beds hospital for COVID care. Over 8.5 crore free meals were distributed to frontline workers and vulnerable communities.

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A ranking of the most generous individuals in India has revealed that India's top donor Shiv Nadar and family have donated more than Rs.3cr ($363K) every day, and their annual donation amounts to 1,161cr for the year 2022.

A ranking of the most generous individuals in India has revealed that India's top donor Shiv Nadar and family have donated more than Rs.3cr ($363K) every day, and their annual donation amounts to 1,161cr for the year 2022. Shiv Nadar is an Indian billionaire industrialist and philanthropist; he is the Founder and Chairman Emeritus of HCL technologies. According to the 'EdelGive Hurun India Philanthropy List 2022' released on Thursday, the donations of India's top wealthy individuals (who donated over Rs.5cr) was measured by the value of their cash or cash equivalents from 1 April 2021 to 31 March 2022. ALSO READ: India, United States natural partners in space exploration, says US official Commenting on the launch, Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, “EdelGive Hurun India Philanthropy List aims at chronicling the Indian philanthropy landscape and so far, the transformation is encouraging. For instance, over the last 5 years, number of donors who have given more than Rs.100 crore have grown from 2 to 15, and over Rs.50 crore have grown from 5 to 20. Considering wealth creation potential of India and assuming that the billionaires keep up with philanthropy, I expect these numbers to at least double over the next 5 years.” India’s top #Philanthropist #2022 is from #TamilNadu List: Shiva Nadar& family donated Rs1161cr @hcltech Azim Premji& family donated Rs484cr@Wipro Mukesh #ambani & family donated Rs411cr #RelianceIndustries Data as per @HurunReportInd #india #donor #indian #rich pic.twitter.com/MrdPmdrvuh — Sidharth.M.P (@sdhrthmp) October 20, 2022 × The report also points out, Contributions towards philanthropy have fallen in FY22 basically due to the huge base effect of pandemic spending and an exceptional contribution of Rs.7,807 crore last year by Azim Premji to his two philanthropic trusts. The individuals featuring the Top 10 of the Philanthropy list in 2022 cumulatively donated Rs.3,378cr in FY22, as against a combined donation of Rs.12,785 crore in 2021. ALSO READ: Viral Video: Monkey shows up at funeral of 'human companion', seen nudging him Shiv Nadar and family who topped the list and contributed majorly towards Education, Arts and Culture are followed by Azim Premji and family who donated Rs.484cr. According to the report, The Azim Premji Foundation India Private Limited is perhaps one of the largest endowments in the world valued at US$21bn. The primary goal of the Foundation is to contribute to a society that is “a just, equitable, humane and sustainable society” as envisaged in the Constitution of India. Mukesh Ambani and family of Reliance industries were third on the list, with a contribution of Rs.411cr. the report says that, he channelizes charitable activities through Reliance foundation with focus on education and healthcare. It adds, Reliance produced 1,000 tonnes of oxygen every day during the second wave of COVID and provided it free for over 1 lakh patients. Besides, it set up 2,000 beds hospital for COVID care. Over 8.5 crore free meals were distributed to frontline workers and vulnerable communities. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

India's top Philanthropist of 2022 donated $363K per day; Hurun India List released

India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, a report said on Thursday.

Even as, cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list.

&nbsp;It can be noted that over the last few years, dedicated efforts have been undertaken to hone the startups ecosystem by the government through flagship initiatives like 'Startup India'.

Hurun said the number of gazelles, which are valued over $500 million can turn unicorn in two years, was pegged at 32, while there are 54 cheetahs commanding a tag of over $200 million, who can achieve the coveted status in four years, as per the Hurun India Future Unicorn list.

The future unicorns are valued at $36 billion, it said, adding that the leap to being a unicorn can also happen swiftly, as seen in five 'cheetahs' which directly jumped into the unicorn club during the last eight months.

Anas Rahman Junaid, managing director and chief researcher at Hurun India, said preparing the list of such companies which get private placements was a difficult task and added that inputs have been taken from venture capital funds.

"India is home to more than 600 million internet users and is expected to have 900 million users by 2025. The adoption of the internet in rural areas will further compliment the rise of technology start-ups. Fintech companies operating in mobile payments, insurance, blockchain, stock trading and digital lending will grow further to capitalize the internet penetration," he said.

At present, India is the third in the list of countries having the most unicorns, trailing the US (396) and China (277), but ahead of UK (32) and Germany (18), it said.

Rahman, however, hinted that the number could have been higher in India because some startups have left the country after achieving a certain scale for better regulations and capital availability.

"Some of the best enterprise SaaS (software as a service) companies are born in India but 'flipped' to the USA. This is a lost opportunity for India and it is important that these start-ups are incentivised to stay back in the country," he said.

Among the future Unicorns, e-commerce player Zilingo leads the list, followed by Mobile Premier League and Rebel Foods.

At a time when debates rage over the importance of pedigree, the list said IITs and IIMs are the biggest bases to churn out successful entrepreneurs, stating that 17 founders graduated from IIT Delhi, followed by 15 from IIT Bombay and 13 from IIT Kanpur, while IIM-Ahmedabad was the favourite post-graduation school with 13 founders in the list.

Bengaluru is home to 31 startups in the list, followed by Delhi NCR at 18 and Mumbai trails with 13.

From an age perspective, 11 co-founders of companies in the list were under 30 years, while 15 were above 50 years, it said.

The top investors in the Gazelles and Cheetahs in the Hurun India Future Unicorn List 2021 are Sequoia, followed by Tiger Global with 37 and 18 investments, respectively.

India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, a report said on Thursday.

India added three 'unicorns' per month in 2021 to nearly double the overall number of startups valued at over $1 billion to 51 as of end-August, a report said on Thursday. Even as, cumbersome regulations are forcing startups to leave India and settle in other countries where they enjoy better treatment, as per the Hurun India, which prepared the list. It can be noted that over the last few years, dedicated efforts have been undertaken to hone the startups ecosystem by the government through flagship initiatives like 'Startup India'. Hurun said the number of gazelles, which are valued over $500 million can turn unicorn in two years, was pegged at 32, while there are 54 cheetahs commanding a tag of over $200 million, who can achieve the coveted status in four years, as per the Hurun India Future Unicorn list. The future unicorns are valued at $36 billion, it said, adding that the leap to being a unicorn can also happen swiftly, as seen in five 'cheetahs' which directly jumped into the unicorn club during the last eight months. Anas Rahman Junaid, managing director and chief researcher at Hurun India, said preparing the list of such companies which get private placements was a difficult task and added that inputs have been taken from venture capital funds. "India is home to more than 600 million internet users and is expected to have 900 million users by 2025. The adoption of the internet in rural areas will further compliment the rise of technology start-ups. Fintech companies operating in mobile payments, insurance, blockchain, stock trading and digital lending will grow further to capitalize the internet penetration," he said. At present, India is the third in the list of countries having the most unicorns, trailing the US (396) and China (277), but ahead of UK (32) and Germany (18), it said. Rahman, however, hinted that the number could have been higher in India because some startups have left the country after achieving a certain scale for better regulations and capital availability. "Some of the best enterprise SaaS (software as a service) companies are born in India but 'flipped' to the USA. This is a lost opportunity for India and it is important that these start-ups are incentivised to stay back in the country," he said. Among the future Unicorns, e-commerce player Zilingo leads the list, followed by Mobile Premier League and Rebel Foods. At a time when debates rage over the importance of pedigree, the list said IITs and IIMs are the biggest bases to churn out successful entrepreneurs, stating that 17 founders graduated from IIT Delhi, followed by 15 from IIT Bombay and 13 from IIT Kanpur, while IIM-Ahmedabad was the favourite post-graduation school with 13 founders in the list. Bengaluru is home to 31 startups in the list, followed by Delhi NCR at 18 and Mumbai trails with 13. From an age perspective, 11 co-founders of companies in the list were under 30 years, while 15 were above 50 years, it said. The top investors in the Gazelles and Cheetahs in the Hurun India Future Unicorn List 2021 are Sequoia, followed by Tiger Global with 37 and 18 investments, respectively.

India added three 'unicorns' per month in 2021: Hurun report

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Hurun Rich List 2024: Razorpay founders named youngest Indian billionaires

Decoding the 360 ONE Wealth Hurun India Rich List 2023

India's top Philanthropist of 2022 donated $363K per day; Hurun India List released

India added three 'unicorns' per month in 2021: Hurun report