Where’s Gen Z among richest Indians? Hurun list 2025 shows who’s got the money

India may be mostly young in terms of its population, but the rich list of Indians is dominated by the older lost, mostly those born between 1928 and 1964. They are two-thirds of the M3M Hurun India Rich List 2025.

“The age-based generational analysis reveals a clear dominance of older cohorts in India’s ultra-wealthy landscape,” analysis released with the list notes.

• Over half of the individuals fall into the Baby Boomer category (born 1946–64) — at 54.6%.
• They are followed by Generation X (1965–1980) at 28.1%.
• The Silent Generation (1928–45) has 10.8% presence.
• Then come Millennials (1981–1996) with just over 6%.
• As for Gen Z, those born in or after 1997, account for a measly 0.3% of the 1,687 people on the list.

In its 14th year, the list uses a cutoff of ₹1,000 crore as net worth, calculating wealth as of September 22, 2025.

The list analysts see the combined 7% of Millennials and Gen Z as “early emergence of a new wave of young wealth creators”.

The term “Gen Z” lately has emerged as one associated with political upheaval, especially after the revolt in Nepal and the recent protests in Ladakh.

Also read | After Nepal, Gen-Z protests rock Madagascar and Peru: Here’s why

“This generational spread highlights the balance between long-established business empires and the rise of tech-driven entrepreneurship in shaping India’s economic future,” the list release document says.

The youngest on the M3M Hurun India Rich List 2025 is 22-year-old Kaivalya Vohra, co-founder of quick commerce and delivery platform Zepto.

Mukesh Ambani, 68, is at the top spot, followed by Gautam Adani, 63.

With a wealth of INR 9.55 lakh crore ($105 billion), Mukesh Ambani (68) and family reclaimed the top spot in the 2025 list.

Gautam Adani and family came down to the the second spot with ₹8.15 lakh crore.

Also read | Alakh Pandey, Physics Wallah founder, enters Hurun Rich list after 223% wealth jump

Generational wealth continues to dominate.

Among them, second-generation entrepreneurs total 373 on the list, led by the Ambani family under Mukesh Ambani. The third generation follows with 88 entrants, where the Bajaj family, represented by Niraj Bajaj, stands as the wealthiest.

Also read | From Ladakh to Assam, Nepal Gen-Z protest fuels fears and jibes across India

The fourth, fifth, and sixth generations also make their mark, though with smaller representation. The Birla family leads the fourth generation with Kumar Mangalam Birla at 58, while the Wadia family heads the fifth generation under 81-year-old Nusli Wadia. The Govind Gadgil family, led by Govind Gadgil at 66, represents the sixth generation.