India’s billionaire count rises to 229 in Frobes 2026 list; Mittal family records sharpest wealth jump

India’s billionaire count has risen significantly in 2026, with 24 new entrants joining the elite list, according to the Forbes World’s Billionaires 2026 rankings. The total number of Indian billionaires has increased from 205 in 2025 to 229 this year. Among the biggest gainers is Sanjay and Lakshmi Mittal, who have emerged as the country’s fourth-richest individual after witnessing a sharp surge in his wealth.

Mittal’s fortune grew substantially following a rise of more than 80 percent in the shares of his company, ArcelorMittal. His net worth now stands at $31 billion, equivalent to about ₹2.87 lakh crore. Over the past year alone, his wealth increased by $20 billion, or roughly ₹1.85 lakh crore, translating to an average daily gain of around ₹274 crore.

The list also highlights several new entrants from India’s business and startup ecosystem. Among them are Physics Wallah founders Alakh Pandey and Prateek Maheshwari, who joined the billionaire ranks after their edtech company’s IPO in November. Paytm founder Vijay Shekhar Sharma has also returned to the billionaire list after a gap of three years, supported by a nearly 60 percent rise in Paytm’s share price over the past year.

Meanwhile, Savitri Jindal, chairperson of the O.P. Jindal Group, holds the third position and continues to remain India’s richest woman. The list includes a total of 20 Indian women billionaires. Uday Kotak, founder of Kotak Mahindra Bank and a recent recipient of the Padma Bhushan, has entered the top 10 rankings this year, pushing DLF’s Kushal Pal Singh down to the 12th position.