The prestigious Forbes 40 Under 40 list for 2024 has been announced, celebrating the world's wealthiest self-made individuals under the age of forty. This year's roster shines a significant spotlight on Indian-origin entrepreneurial talent, with four young billionaires of Indian descent making the coveted cut. Together, they boast a staggering cumulative net worth of over $11 billion, marking a powerful testament to their business acumen and innovative ventures.
Meet The Indian-Origin Tycoons on The List
The list is topped by global figures like AI company founder Edwin Chen, valued at $18 billion, and Wang Ning, worth $15.7 billion. Among the standout names of Indian heritage are Ankur Jain, Nikhil Kamath, Adarsh Hiremath, and Surya Midha. Their journeys, from diverse sectors like fintech and proptech to artificial intelligence, illustrate the global impact of the Indian diaspora.
Leading the Indian contingent at rank 19 is 35-year-old Ankur Jain, with a personal net worth of $3.4 billion. Based in the United States, Jain is the founder and CEO of Bilt Rewards, a New York-based home rental rewards startup founded in 2019. His entrepreneurial path included co-founding the contact management app Humin, which was sold to Tinder in 2016. A Wharton School graduate, Jain is the son of a former dot-com billionaire and leads Bilt, a company valued at $10.8 billion by private investors.
Zerodha's Nikhil Kamath and The Youngest Billionaires
Close behind at the 20th spot is 39-year-old Nikhil Kamath, the only resident Indian on the list, with a fortune of $3.3 billion. Kamath co-founded the revolutionary discount brokerage Zerodha in Bangalore in 2010 alongside his older brother and fellow billionaire, Nithin Kamath. While Nithin serves as CEO, Nikhil is the Chief Financial Officer of Zerodha, which Forbes estimates to be worth nearly $8 billion. Beyond finance, Kamath has ventured into media, launching a podcast titled "WTF is" in March 2024.
The list also celebrates extraordinary youth with the recognition of 22-year-olds Adarsh Hiremath and Surya Midha. They share the 27th rank, each holding a net worth of Rs 1,826 crore. These high school friends and 2024 Thiel Fellows made history as the youngest billionaires ever on the list. In 2023, they co-founded the AI recruiting startup Mercor along with a third co-founder, Brendan Foody. Their company assists Silicon Valley's premier AI labs in training their models.
Hiremath, who grew up in the Bay Area, pursued a Concurrent Bachelor's/Master's in Computer Science. Midha, born in Mountain View and raised in San Jose by parents who immigrated from New Delhi, earned a bachelor's in Foreign Studies from Georgetown University. Interestingly, while Hiremath was at Harvard, both Midha and Foody were at Georgetown.
A Testament to Global Indian Entrepreneurial Spirit
The inclusion of these four billionaires in the Forbes 40 Under 40 list underscores the formidable presence and success of Indian-origin entrepreneurs on the world stage. Their achievements span continents and industries—from Kamath revolutionizing retail investing in India to Jain building a multi-billion dollar rewards platform in the US, and the Mercor founders leveraging AI from a young age.
This recognition is not just about wealth accumulation but highlights innovation, strategic vision, and the ability to identify and capitalize on emerging market opportunities. It serves as a significant inspiration for aspiring entrepreneurs in India and across the global Indian diaspora, proving that age and origin are no barriers to building world-class, impactful businesses.
