India’s wealth landscape is undergoing a decisive transformation, and at the forefront of this shift stands Zomato founder Deepinder Goyal. According to the Hurun India Self-Made Billionaires of the Millennia List 2025, released in partnership with IDFC FIRST Private Banking, Goyal has emerged as India’s most valuable self-made billionaire, overtaking retail veteran Radhakishan Damani.
With Eternal (Zomato’s parent company) valued at an estimated Rs 3.2 lakh crore, Goyal’s rise to the top symbolises the growing dominance of technology-led, consumer-first businesses in India’s new economic order. This marks the first time a food-tech entrepreneur has topped the prestigious list, underlining the massive wealth creation potential of digital platforms.
New-Age Founders Rewrite India’s Billionaire Rankings
Hurun India’s 2025 list focuses on entrepreneurs who built their businesses after the year 2000, spotlighting a generation of founders who scaled enterprises at unprecedented speed. Digital innovation, asset-light models and changing consumer behaviour have played a defining role in reshaping India’s billionaire club.
Trailing Goyal at second place is Radhakishan Damani, founder of DMart, with a valuation of Rs 3 lakh crore. Despite rising competition from e-commerce and quick-commerce platforms, DMart continues to be one of India’s most trusted and profitable retail chains.
The third position is jointly held by Rahul Bhatia and Rakesh Gangwal, founders of IndiGo, valued at Rs 2.2 lakh crore. IndiGo’s commanding 65% share of India’s domestic aviation market has firmly established it as the country’s most dominant airline.
Healthcare, Food-Tech and Travel Shine Bright
At fourth rank is Abhay Soi, chairman of Max Healthcare Institute, with a valuation of Rs 1.1 lakh crore, reflecting the strong investor interest in India’s healthcare sector post-pandemic.
Food-tech rival Swiggy secured fifth place, with founders Sriharsha Majety and Nandan Reddy valued at Rs 1.06 lakh crore, driven by Swiggy’s expansion into quick commerce and grocery delivery.
The travel-tech space also made a strong showing, with MakeMyTrip founders Deep Kalra and Rajesh Magow ranking sixth at Rs 94,500 crore.
Fintech, Beauty and D2C Brands Enter the Elite Club
Fintech entrepreneur Vijay Shekhar Sharma of Paytm ranked eighth, recording a 67% year-on-year jump in wealth, signalling renewed investor confidence in the company’s profitability-focused strategy.
Beauty and fashion platform Nykaa, founded by Falguni Nayar, and eyewear unicorn Lenskart, led by Peyush Bansal, rounded off the top ten—highlighting the rise of D2C and lifestyle brands in India’s startup ecosystem.
A Snapshot of India’s Changing Economic Power
The Hurun India 2025 rankings clearly reflect a shift from traditional asset-heavy businesses to digital-first, scalable platforms. Experts say the list captures India’s emergence as a global startup powerhouse, driven by innovation, technology adoption and a fast-growing consumer base.
