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There has never been a better time to be a promoter of a listed company in India. A record 40 businessmen and promoters entered the billionaires’ club in 2021, beating the previous record of 24 new entrants during the year ending March 2010. This the biggest expansion in the billionaires’ club since Business Standard started collecting data on promoters’ net worth beginning March 2007.
In comparison, there were only 10 new entrants in the billionaires’ club each in 2019 and 2020.
These 40 new billionaires, many of which include first-generation entrepreneurs, now have a combined wealth of around $73 billion (some Rs 5.47 trillion), up 243 per cent from their combined wealth of around $21.2 billion at the end of December 2020.
