Nykaa's Falguni Nayar becomes richest self-made Indian woman in 2022, sees wealth grow by 345%

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The IIFL Wealth Hururn India Rich List 2022 gets a little more inclusive this year.

Women are making a significant contribution to the entrepreneurial ecosystem of India, and the rich list has seen an uptick in self-made entrepreneurs this year. More shepreneurs have made it to the list this year, taking the number of women bosses to 55 from 13 ten years ago.

After a bumper listing of her beauty and wellness e-commerce platform Nykaa, Falguni Nayar surpassed ‘biotech queen’ and Biocon founder Kiran Mazumdar-Shaw (Rs 24,800 crore net worth) to become the richest self-made Indian woman in the IIFL Wealth Hururn India Rich List 2022.

With an increase of 345 per cent in her wealth, the 59-year-old became the second biggest wealth gainer this year after businessman Ravi Modi of Vedant Fashions. Her rank moved up by 169 positions to the 33rd spot.

Nayar’s wealth grew by 345 per cent in the last year to report a net worth of Rs 38,700 crore. She also ranks fifth in the Top 10 Biggest Gainers List with a net worth of Rs 38,700 crore, a jump of 345 per cent (Rs 30,000 crore) since the last year. In the span of five years, Nykaa’s wealth has soared by 1,388 per cent.

This year, the e-commerce platform also has invested in a few companies. It announced the acquisition of an 18 per cent stake in clean beauty brand Earth Rhythm for Rs 42 crore and a 60 per cent stake in Nudge Wellness for Rs 4 crore.

The e-tailer became the first Indian unicorn – headed by a woman – in 2020.

After the demise of her trader-husband last month, Rekha Jhunjhunwala also entered the top 10 list of the biggest wealth makers. The family’s wealth rose from Rs 14,900 crore to Rs 37,200 crore in one year.

The average age of the richest Indian women is 61. Neha Narkhede, co-founder of streaming data tech company Confluent is the youngest self-made woman entrepreneur in India at the age of 37.

According to Hurun, India’s super wealth creation stories are not driven by any particular sector, but are broad-based instead.

And a businesswoman has managed to crack it in the male-dominated software and services industry. Billionaire Radha Vembu, who also owns a majority stake in Zoho Corporation, saw her wealth increase by 32 per cent to Rs 30,500 crore this year. The only female boss to see her wealth rise, Vembu ranks third in Hurun’s top software entrepreneurs rich list, after HCL’s Shiv Nadar & family and Zscaler founder Jay Chaudhry.

Meanwhile, Arista Networks CEO Jayshree Ullal became the richest Indian professional manager with wealth worth Rs 16,600, up 23 per cent from last year. The 61-year-old businesswoman, who lives in the USA, led the company to a historic IPO in June 2014 from zero to a multibillion-dollar business.

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