Savitri Jindal Emerges as India’s Wealthiest Woman, Surpassing Prominent Industrialists in 2023

In an unexpected twist to India’s billionaire landscape, 2023 saw Savitri Jindal, the matriarch of the OP Jindal Group, outpace industry giants in terms of net worth growth.

Savitri Jindal Emerges as India’s Wealthiest Woman

According to the Bloomberg Billionaires Index, Savitri Jindal’s wealth skyrocketed by a staggering $9.5 billion, positioning her as India’s richest woman with a formidable net worth of $25.3 billion as of December 19.

The Jindal Empire: A Testament to Success

Savitri Jindal presides over the OP Jindal Group, a colossal conglomerate established by her late husband, Om Prakash Jindal. The New Delhi-based group boasts a $23 billion empire with significant stakes in key sectors, including JSW Steel, JSW Steel & Power, JSW Energy, Jindal Saw, and Jindal Stainless. The bullish performance of these companies on the Indian stock markets throughout 2023 significantly contributed to Savitri’s remarkable gain in net worth.

Savitri’s wealth is intricately tied to her stakes in JSW Steel, standing at an impressive $7.20 billion. Following closely is her $4.72 billion stake in Jindal Steel & Power, emphasizing the diversified portfolio of the OP Jindal Group. The conglomerate’s success is further underscored by its 83% ownership of JSW Infrastructure, which went public in October 2023. Post-listing, the company’s shares surged by over 44%, attributing to Savitri’s substantial stake, now valued at $4.95 billion.

At 73 years old, Savitri Jindal’s ascent to becoming India’s richest woman marks a historic achievement. Her entrepreneurial acumen and strategic leadership have played pivotal roles in steering the OP Jindal Group to new heights, solidifying its standing as one of India’s prominent business entities.

Following Savitri’s extraordinary wealth gain is KP Singh, the chairman and CEO of real estate giant DLF Ltd. His net worth surged from $7.15 billion to $15.4 billion in 2023, primarily fueled by the impressive rally in realty stocks on Indian exchanges. Kumar Birla, the chairman of the Aditya Birla Group, also experienced a noteworthy increase in net worth, securing the third position.

Despite Savitri Jindal’s exceptional climb, Mukesh Ambani, the chairman of the Reliance Group, retains his status as the richest Indian, boasting a net worth of $92.3 billion. His wealth increased by $5.16 billion in 2023. Gautam Adani follows closely, holding a net worth of $85.1 billion.

As 2023 concludes, Savitri Jindal’s phenomenal wealth growth not only cements her position as India’s wealthiest woman but also sets a precedent for future female leaders in the country’s business landscape. Her accomplishments underscore the evolving dynamics of wealth creation, breaking traditional norms and paving the way for diversity in the upper echelons of India’s billionaire hierarchy.

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