Top 7 Richest Billionaires in Maharashtra: Driving the Wealth of India's Millionaire Capital
Mumbai, often referred to as the Millionaire Capital of India, is home to some of the country's wealthiest individuals. Here are the top seven billionaires in Maharashtra, each contributing significantly to the state's economic dominance.
BillionairesWealthMumbaiMaharashtraEconomyReal Estate MaharashtraSep 21, 2025
Maharashtra’s wealth dominance is supported by a 55% surge in GSDP, making Mumbai one of the most important cities for the next decade. The city’s financial ecosystem is unparalleled, with the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, and the SEBI all headquartered there.
### Top 7 Billionaires of Maharashtra
#### Mukesh Ambani (Rs 9 lakh crore)
Mukesh Ambani, the Chairman of Reliance Industries, is a symbol of business dominance in India. His net worth of $119.5 billion is more than the combined GDP of countries like Iceland, Estonia, and Bosnia and Herzegovina. Beyond his business ventures, the Ambani family owns several personal assets, including luxurious cars and extravagant real estate.
#### Dilip Sanghvi (Rs 2.85 lakh crore)
Dilip Sanghvi, the founder of Sun Pharmaceuticals, is ranked 88th on Forbes' list of the world’s richest people with a net worth of $25 billion. Sun Pharma is one of the most valuable listed pharmaceutical companies, generating $5.3 billion in annual revenue from overseas markets. The company's acquisition of Ranbaxy Laboratories in 2014 for $4 billion further solidified its position in the industry.
#### Cyrus S Poonawalla (Rs 2.1 lakh crore)
Cyrus S Poonawalla, the head of the Serum Institute of India, is the world’s largest vaccine manufacturer. His contributions have significantly boosted Maharashtra’s financial dominance, with the combined net worth of these billionaires reaching $140 billion.
#### Bajaj Family (Rs 2 lakh crore)
The Bajaj Family, led by the late Rahul Bajaj, controls the 99-year-old Bajaj Group, which includes major players like Bajaj Auto and Bajaj Finserv. After Rahul Bajaj's passing in 2022, his sons, Rajiv and Sanjiv Bajaj, took over the group's leadership.
#### Radhakishan Damani & Family (Rs 1.9 lakh crore)
The Damani family, comprising Radhakishan and his brother Gopikishan, is a significant player in the fashion and retail industry in India. After launching its IPO in 2017, the family has stakes in various companies, including VST Industries and former holdings in India Cements. They are also known for their large real estate purchases, including hotels and private residences.
#### Kumar Birla (Rs 1.8 lakh crore)
Kumar Birla, a fourth-generation billionaire, has a net worth of $21 billion and leads the $66 billion Aditya Birla Group. The group operates in 40 countries and has stakes in industries such as cement, textiles, aluminum, telecom, financial services, and paints.
#### Shapoor Mistry & Family (Rs 1.7 lakh crore)
Shapoor Mistry heads the 159-year-old construction giant, the Shapoorji Pallonji Group. The family's biggest asset is an 18.4% stake in Tata Sons, the holding company of the $165 billion (revenue) Tata Group. This stake alone underscores the family's significant influence in India’s economic landscape.
These billionaires are not just wealth generators but also key contributors to the state's economic growth and development. Their success stories inspire aspiring entrepreneurs and investors, making Maharashtra a beacon of economic prosperity.
Frequently Asked Questions
What is the Hurun India Wealth Report 2025?
The Hurun India Wealth Report 2025 is a comprehensive study that tracks the growth and distribution of wealth in India. It declared Mumbai as the ‘Millionaire Capital’ of India, highlighting the city's significant increase in millionaire households.
Who is the richest person in Maharashtra?
Mukesh Ambani, the Chairman of Reliance Industries, is the richest person in Maharashtra with a net worth of Rs 9 lakh crore.
What industries does the Bajaj Family dominate?
The Bajaj Family dominates the 99-year-old Bajaj Group, which includes major players like Bajaj Auto and Bajaj Finserv, spanning industries such as automotive and financial services.
What is the significance of the Serum Institute of India?
The Serum Institute of India, led by Cyrus S Poonawalla, is the world’s largest vaccine manufacturer, playing a crucial role in global health and contributing significantly to Maharashtra’s economic dominance.
What are the key financial institutions headquartered in Mumbai?
Mumbai is home to several key financial institutions, including the Reserve Bank of India, the Bombay Stock Exchange, the National Stock Exchange of India, and the SEBI, making it a financial hub of India.
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