Self-made billionaires in India: 70% of Hurun’s 2026 rich list built their own fortune
70% of India's rich list is self-made: 1,266 entrepreneurs on Hurun's 2026 list, up from 55% five years ago. The most valuable founder-built companies, self-made women and bootstrapped examples.
A record 1,266 entrepreneurs, or 70% of the M3M Hurun India Rich List 2026, are self-made, up from 55% five years ago and from 1,109 last year. The list, released on 23 September 2026, has 1,810 people worth at least ₹1,000 crore and 391 dollar billionaires, as reported by Business Standard. India’s most valuable self-made founder, by company value, is Deepinder Goyal of Eternal at ₹3.2 lakh crore. 12
How many of India’s billionaires are self-made?
| Measure | Figure |
|---|---|
| Self-made entrepreneurs on Hurun’s 2026 list | 1,266 (70%) |
| Self-made entrepreneurs on the 2025 list | 1,109 |
| Self-made share five years ago | 55% |
| New faces on the 2026 list | 346 |
| Youngest entrant | Kaivalya Vohra of Zepto, 23 |
| Average age on the list | 64 |
Hurun’s 2026 list has 391 dollar billionaires, a record, with 76 new entrants, so many of the newest billionaires built their companies themselves. Globally, Forbes classifies 67% of its real-time billionaires as self-made, as covered in our guide to the self-made billionaire. 1
The most valuable self-made companies in India
In the IDFC FIRST Private and Hurun India ranking of the Top 200 Self-made Entrepreneurs of the Millennia, published on 17 December 2025, the top entries were:
| Rank | Entrepreneur | Company | Company value |
|---|---|---|---|
| 1 | Deepinder Goyal | Eternal (Zomato) | ₹3.2 lakh crore, up 27% |
| 2 | Radhakishan Damani | Avenue Supermarts (DMart) | ₹3 lakh crore, down 13% |
| 3 | Rahul Bhatia and Rakesh Gangwal | InterGlobe Aviation (IndiGo) | ₹2.2 lakh crore |
Paytm (+67%) and Lenskart (+60%) entered the top 10, while Zerodha and Razorpay dropped out. These are company valuations, not the founders’ personal wealth, and the list covers firms founded after 2000. The combined value of the 200 companies was ₹42 lakh crore, or $469 billion. 2
Self-made versus inherited in the top 10
At the top, the list mixes both. Gautam Adani, who began as a commodities trader, leads at ₹9.23 lakh crore, while Mukesh Ambani inherited leadership of Reliance after his father Dhirubhai Ambani’s death. Anil Agarwal, who started as a scrap-metal trader, entered the top 10 in ninth place after an 87% gain. See the full ranking in our list of the top 10 richest people in India. 13
Self-made women
Women make up 131 names on Hurun’s 2026 list, up from 100. Jayshree Ullal of Arista Networks leads among self-made women with ₹77,400 crore. In the 2025 self-made ranking, Falguni Nayar and Adwaita Nayar of Nykaa topped the women with a company value of ₹67,500 crore, and 20 women featured in total. See Falguni Nayar and our report on the richest woman in India. 12
A bootstrapped example: Zerodha
Zerodha’s Nithin Kamath and Nikhil Kamath started the broker in 2010 and have never raised outside capital. Forbes’ tracker puts Nithin at about $4.7 billion and Nikhil at about $3.1 billion. Our report on who owns Zerodha explains the structure. Of the 200 companies on the self-made list, 189 have outside investors, so bootstrapped firms are rare. 24
Where self-made wealth is made
Bengaluru has 88 of the founders on the self-made list and Mumbai 83, with financial services the biggest sector at 47 companies. On the main 2026 list, industrial products produced 44 new entrants, the most of any industry, and AI produced 19. See our guide to tech billionaires in India. 12
What happens next
With the self-made share at a record 70%, the next Hurun list in 2027 will show whether new AI and defence founders keep the trend going. We refresh this page when a new list is published. For the wider count, read billionaires in India.
Frequently asked questions
How many of India's rich are self-made?
A record 1,266 entrepreneurs, or 70% of the M3M Hurun India Rich List 2026, up from 55% five years ago.
Who is India's top self-made entrepreneur?
Deepinder Goyal of Eternal leads Hurun’s ranking of self-made entrepreneurs by company value, at ₹3.2 lakh crore, ahead of Radhakishan Damani of DMart at ₹3 lakh crore.
Who is the richest self-made woman in India?
Jayshree Ullal of Arista Networks, with ₹77,400 crore on Hurun’s 2026 list.
Is Zerodha bootstrapped?
No. Zerodha has never raised outside capital. About 189 of the 200 companies on Hurun’s self-made list have outside investors.