India's young and enterprising self-made entrepreneurs aged 40 or under, have displayed exemplary business acumen. Most have not only made it to the IIFL Wealth Hurun rich-list of entrepreneurs under 40 years, but also added to their wealth during the pandemic. These are self-made young businessmen who are unstoppable.The list ranks self-made entrepreneurs with a wealth of INR 1,000 Cr, aged forty years and under from India. Wealth calculations are a snapshot of 31 August 2020.
Nithin Kamath (40) and Nikhil Kamath (34)Nithin Kamath (40) and Nikhil Kamath (34) co-founded the online trading platform Zerodha and grew it to become India's largest stockbrokerS by the number of clients. With a wealth of INR 24,000 crore, Nithin Kamath and Nikhil Kamath secured the number one rank on the IIFL Wealth Hurun India 40 & Under Self-Made Rich List of 2020.
Divyank TurakhiaWith a wealth of INR 14,000 crore, Divyank Turakhia, 38, ranks second on the list. He became a billionaire in 2016 after Media.net (a company that he founded in 2010) was sold for circa USD 1 bn.
Amod Malviya, Sujeet Kumar, Vaibhav GuptaAmod Malviya, 39, along with their co-founders Sujeet Kumar, 40, and Vaibhav Gupta, 40, share the third position. On the back of strong investor interest in Udaan, their flagship B2B Commerce Company, their wealth increased by 274 per cent. For the second consecutive year, each of them is the biggest wealth gainer in IIFL Wealth Hurun India List 2020.The valuation of Udaan increased from INR 20,000 crore in October 2019 to INR 52,500 Cr in February 2020.
Riju RavindranWith a wealth of 7,800 crores, Riju Ravindran, 39, online education platform, BYJU's secured the 6th spot on the list. On the back of Byju's achieving a valuation of USD 1 bn in August 2020, Raveendran registered a 117 per cent increase in wealth compared to last year.
Binny Bansal and Sachin BansalWith a wealth of 7,500 crore each, co-founders of Flipkart, India's leading e-commerce platform, Binny Bansal, 37, and Sachin Bansal, 39, share the seventh position on the list.
Ritesh AgarwalThe COVID-19 pandemic has taken a toll on the hospitality business globally and temporarily applied breaks to Oyo's growth story, thereby declining the wealth of Ritesh Agarwal, 26, by 40 per cent or 3,000 crore. But he still features on the list.
Bhavish Aggarwal and Ankit BhatiWith a wealth of 3,500 crores and1,600 crores respectively, Bhavish Agarwal (35) and Ankit Bhati (34), co-founders of the ride-hailing company Ola Cabs ranks 10th and 14th on the 40 under list.In July 2020, Ola incentivized Aggarwal and Bhati by way of issuing equity shares at a nominal price of 10 per share-resulting in a 13 per cent increase in their wealth compared to last year.