1 month ago
Hyderabad: Seventeen dollar billionaires, primarily from the pharma and construction sectors from Telangana and Andhra Pradesh, have made it to The Hurun Global Rich List 2024, which was released recently.
The richest billionaire baron from Hyderabad is pharma major Divi’s Laboratories promoter Murali Divi and family, with a wealth of $7 billion.
P Pitchi Reddy and PV Krishna Reddy, known for their leadership in Megha Engineering & Infrastructures Ltd, the company that recently gained attention for being the second largest contributor of electoral bonds totalling Rs 1,232 crore, were ranked second and third, respectively.
Hyderabad’s billionaire echelon also included stalwarts such as Rameswar Rao Jupally of My Home Industries, PV Ramprasad Reddy of Aurobindo Pharma and others.
While the city ranked among the top five Indian cities in terms of the number of billionaires, Mumbai surpassed China’s Beijing to become Asia’s billionaire capital with 92 billionaires, leading the list of Indian cities.
New Delhi follows closely behind with 57 billionaires, while Bengaluru holds the third position with 27 billionaires. On the global scale, China leads the tally with 814 billionaires, trailed closely by the US with 800.
India secures the third spot on the list, boasting 271 billionaires.
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