Do You Know? These Are The 6 Richest Marwari In India

Radhakishan Damani, the founder of Dmart is by far the richest Marwari in India with a net worth of $27.60 billion

Marwari enterprises in India constitute 6% of the total Bombay Stock Exchange capitalisation

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Marwari, an ethnic group belonging to Marwar region of Rajasthan is a highly successful business community. We can understand it by the fact that 42% of Indian billionaires belongs to this community. The enterprises by Marwari constitute 6% of the total Bombay Stock Exchange (BSE) capitalisation. Here we’ll talk about 5 richest marwari people in India.

Even though Marwaris are involved in old trade for centuries in modern startup world too they’ve proven their metal. Almost 50% startups in India has a founder belonging to this community. As Marwari people are highly business centric people the bar of success went higher with time. Here are the 6 richest Marwari people in India whose success gave a whole new meaning to how a successful business community should be.

5 richest marwari in India — *Radhakishan Damani*

Radhakishan Damani

Popularly known as India’s retail king Radhakishan Damani is by far the richest Marwari in India. He has amassed a huge net worth of $27.60 billion. Damani is the founder of DMart (Avenue Supermarts Limited on paper). In 2017 his company went public with huge IPO success that massively boosted his wealth in a single day. He started DMart in 2002 from Mumbai which has now 294 stores across India.

Apart being an entrepreneur Damani is also a great investor. Through Bright Star Investments Ltd he manages his stock portfolio. He holds close to 1,70,000 crore of stock portfolio which also makes him one of the most popular stock market players in India. He is the guru of renowned bull of the India’s stock market late Rakesh Jhunjhunwala who was also a Marwari.

Laxmi N Mittal

With a net worth of $16.7 billion Laxmi N Mittal is the 2nd richest Marwari in India. He is the executive chairman of ArcelorMittal. It is the world’s 2nd largest steel making company and he owns 38% stake in it. This got him the tag of steel magnate and king of steel. ArcelorMittal generates a revenue of close to $80 billion annually. In 2022 the company’s net income stood at $9.3 billion.

In 2005 Forbes ranked him the world’s 3rd richest person followed by 6th in 2011. He started Mittal Steel and in 2006 he merged it to France’s Arcelor in 2006. He was born to Marwari Hindu family in Sadulpur, Rajasthan.

Kumar Mangalam Birla

Heading one of the oldest business houses in India, the Aditya Birla Group KM Birla is the 3rd richest Marwari in India. He has a net worth of $15.8 billion. Popularly known as India’s commodity king he assumed the Aditya Birla Group charge at 28 after his father death in 1995.

The Aditya Birla Group is a $60 billion revenue generating empire with half of it coming from outside India. Large part of the group’s revenue comes from commodities like cement and aluminum.

Bonu Gopal Bangur

Started by his grandfather Bonu Gopal Bangur is the chairman of Shree Cement. He has a net worth of close to $7.3 billion which makes him the 4th richest Marwari in India. His age is 92 which makes him one of the oldest billionaires in India. Under his tenure from huge losses Shree Cement turned into a profitable enterprise with a remarkable turnaround.

Shree Cement is one of the largest cement makers in northern India. In 2023 the company generated a revenue of ₹18,311 crore with a net income of ₹1,269 crore. It is headquartered in Kolkata.

Mangal Prabhat Lodha

Known for Lodha Group (now known as Macrotech Developers) Mangal Prabhat Lodha is also the India’s richest builder. He has a net worth of $7 billion. His two sons joined the Lodha Group in 2003 and then Mangal Lodha entered into politics through Bhartiya Janata Party (BJP).

He started Lodha Group by making middle-class homes in Mumbai and now the group constructs some of the most remarkable residential projects in India that includes The 75-story Trump Tower, and The Lodha World One Tower which is the tallest building in Mumbai.

Anil Agarwal

The 6th richest Marwari in india is Anil Agarwal. He is professionally known as India’s “metal king” due to heavy presence of him in metal industry. Anil Agarwal heads Vedanta Resources Limited headquartered in United Kingdom. Vedanta is the largest minning and non-ferrous metals company in India. Zinc, lead, silver, iron ore, steel and aluminium are major products of Vedanta.

While most of the Marwari people are from Rajasthan and Bengal Anil Agarwal was born in Patna, Bihar. At 19 he left Patna for Mumbai to explore career opportunities starting from aluminum. In 2023 Vedanta generated a revenue of $18.141 billion with a net income of $838 million.