Top entrepreneurs 2024: Radhakishan Damani tops Hurun India’s Self-Made Entrepreneurs list, followed by Zomato’s Deepinder Goyal

Radhakishan Damani, the founder of DMart, maintained the top position in the IDFC First Private & Hurun India’s Top 200 Self-Made Entrepreneurs of the Millenia 2024, with a valuation of Rs 3.4 lakh crore, marking a growth of 44%. Following closely behind is Deepinder Goyal’s Zomato, with a valuation exceeding Rs 2.5 lakh crore and experiencing a remarkable 190% increase. The founders of Swiggy, Sriharsha Majety and Nandan Reddy, secured the third spot. The surge in demand for quick commerce among Indian consumers has propelled these entrepreneurs to the top ranks of the list.

Notable non-unicorn companies in the top ten rankings include Avenue Supermarts, Zomato, Max Healthcare Institute, Makemytrip, Policy Bazaar, and Nykaa. It is noteworthy that three of the top ten companies are headquartered in Mumbai, Bengaluru, and Gurugram.

Ranked fourth in the list are Deep Kalra and Rajesh Magow, co-founders of MakeMyTrip, with a valuation of Rs 99,300 crore. Founded in 2000 by Deep Kalra, MakeMyTrip initially focused on the US-India travel market, offering competitive products and services supported by robust technology and dedicated customer service. Rajesh Magow, Co-Founder and Group CEO, played a crucial role in key milestones such as the company’s NASDAQ listing in 2010, the merger with Ibibo group, and leading MakeMyTrip’s successful recovery post-pandemic.

Abhay Soi, Chairman and Managing Director of Max Healthcare Institute, is also ranked fourth with a valuation of Rs 96,100 Cr. His expertise led to securing funding from JP Morgan to establish Radiant Life Care, through which he transformed Dr BL Kapur Memorial Hospital in Delhi and Nanavati Hospital in Mumbai. In 2019, Radiant Life Care, backed by KKR, acquired a 49.7% stake in Max Healthcare from South Africa-based Life Healthcare.

Yashish Dahiya and Alok Bansal, the founders of Policybazaar, have made it to the top 10 this year with a valuation of Rs 78,600 Cr, representing a significant 128% increase from the previous year. Their revenue has also experienced a substantial surge of 36% during the same period. Established in 2008, Policybazaar’s core mission is to enhance transparency in the insurance sector by simplifying plan information, addressing mis-selling practices, and reducing policy lapses.

Bhavit Sheth and Harsh Jain, the co-founders of Dream11, India’s first gaming unicorn, have jointly secured the seventh position on the IDFC FIRST Private & Hurun India’s Top 200 Self-made Entrepreneurs of the Millennia 2024 with a valuation of Rs 66,500 Cr.

Zerodha’s founders Nithin Kamath and Nikhil Kamath were ranked eighth on the list with a valuation of Rs 64,800 Cr. The company’s primary goal is to democratise stock market investing and trading. Nithin, equipped with a background in trading and finance, holds an engineering degree from NITK Surathkal. Nikhil Kamath, launched the “WTF Fund” aimed at backing young entrepreneurs under the age of 22 in sectors such as fashion, beauty, and home industries.

Harshil Mathur and Shashank Kumar, the co-founders of Razorpay, have secured the ninth position with a valuation of Rs 62,400 crore. Their entrepreneurial journey commenced in 2014, driven by their observation of the challenges faced within India’s online payments sector. Recognizing a critical issue that needed to be addressed, the duo embarked on a path that has propelled Razorpay’s growth in tandem with India’s digital economy.

Falguni Nayar, the visionary behind Nykaa, has made her entry into the top ten this year with a valuation of Rs 56,600 crore, marking a notable 30% increase from the previous year. In 2012, she founded Nykaa, an e-commerce platform offering an extensive array of beauty products. Today, Nykaa boasts a diverse portfolio encompassing over 1,000 brands, catering to a wide spectrum of beauty and wellness needs for both genders.

As per the report, 56 founders and 32 companies have been newly added to the IDFC First Private & Hurun India’s Top 200 Self-Made Entrepreneurs of the Millennia 2024 list. Additionally, there are 32 dropouts this year. There has been a 15% increase in the number of billion-dollar companies founded by self-made entrepreneurs of the millennia, with a total of 121 such companies now included in the list. Three individuals on the list are worth INR 1 lakh crore or more, compared to two individuals last year.

The threshold for entry into the IDFC First Private & Hurun India’s Top 200 Self-Made Entrepreneurs of the Millennia 2024 list has increased by 13% to Rs 3,400 crore.

The Indian stock market’s spectacular growth brought in 12 new entrants to the market. Among these newcomers, 38% come from established publicly listed companies, while the remaining 18 are emerging from the startup sector. This trend indicates a potential thaw in the previously challenging startup funding environment.

The combined value of all companies on this list totals Rs 36 lakh crore (US$431 billion), showing a significant 20% increase compared to last year. This value is nearly equivalent to the GDP of Maharashtra and exceeds the GDP of every other state in India.