Seven pharma barons in 10 from Hyderabad in global | Sidnaz Blog

HYDERABAD: As many as 10 billionaires from Hyderabad, seven being pharma barons, have made it to Hurun Global Rich List 2021 with a cumulative wealth of nearly $23 billion (Rs 1,65,900 crore).
This puts Hyderabad fifth in India after Mumbai with 60 billionaires, Delhi (40), Bengaluru (22) and Ahmedabad (11). As many as 209 Indian billionaires made the cut as compared to 1,058 billionaires from China.

Leading city’s billionaire club is Divi’s Lab’s Murali Divi and family at 20th in India and 385th globally with a wealth of Rs 54,100 crore, which is more than double the wealth of second on list — Aurobindo Pharma’s promoter PV Ramprasad Reddy & family (56th India & 1,096 global) with Rs 22,600 crore.
Hetero Drugs’ promoter B Parthasaradhi Reddy & family made an entry onto the coveted global richie list this year with a wealth of Rs 16,000 crore that puts him on third spot in Hyderabad and 83rd in India (1,609 global).
The fourth and fifth richest in the city are Dr Reddy’s Labs’ K Satish Reddy & family and GV Prasad along with wife G Anuradha with Rs 12,800 crore and Rs 10,700 crore, respectively.
Interestingly, infrastructure and construction biggies have captured the sixth, seventh and eighth spot in the Hyderabad billionaire list and share the 2,383rd rank globally.
In terms of India rankings, Megha Engineering & Infrastructures’ P Pitchi Reddy stood on 134th spot with Rs 10,600 crore, My Home Industries’ Rameswar Rao Jupally & family ranked 138th with Rs 10,500 crore and Megha Engineering’s PV Krishna Reddy at 140th place with Rs 10,200 crore.
The two remaining billionaires from Hyderabad on the global rich list also include pharma barons — M Satyanarayana Reddy & family of MSN Labs at 2,530th spot globally (143rd all India) with Rs 9,800 crore and Natco Pharma’s VC Nannapaneni at 2,686 spot (164 India ranking) with Rs 8,600 crore.
Anas Rahman Junaid, managing director and chief researcher, Hurun India, said that Indian wealth creation is dominated by cyclical and traditional industries as compared to tech driven wealth creation in USA and China. “When the tech driven wealth creation reaches full potential, India could potentially beat USA in terms of the number of billionaires,” he said.
The global rich list this year ranked 3,228 billionaires from 2,402 companies and 68 countries. Interestingly, Asia accounted for the biggest chunk of the world’s billionaires at 51% with 45% of the total wealth, as compared to North America that accounted for 24% of billionaires with 33% of the wealth.
As per the report, despite the Covid-19 pandemic the wealth of billionaires globally jumped by US$3.5 trillion (32%) to US$14.7 trillion.


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