Maharashtra has long been the beating heart of India’s economy. From the trading floors of Dalal Street to the industrial hubs of Pune, the state has produced some of the nation’s most powerful business families.
According to the Hurun India Wealth Report 2025, Maharashtra leads the country with 1.78 lakh millionaire households, out of which Mumbai alone hosts 1.42 lakh – making it India’s true “Millionaire Capital.”
But who are the individuals behind this staggering wealth? Here’s a look at the Top 10 richest residents of Maharashtra in 2025.
1. Mukesh Ambani – $119.5 Billion
Chairman, Reliance Industries | Mumbai
Mukesh Ambani stands not just as Maharashtra’s richest man but also India’s wealthiest. His empire, Reliance Industries, stretches from oil and petrochemicals to telecom (Jio) and retail.
- Wealth Source: Reliance Industries Ltd.
- Highlight: Jio alone serves nearly 490 million subscribers across India.
- Lifestyle: Resides in Antilia, the iconic 27-storey home in South Mumbai.
Ambani’s fortune exceeds the GDP of several smaller countries, underlining his unmatched influence in global business.
2. Dilip Shanghvi & Family – $32.4 Billion
Founder, Sun Pharmaceuticals | Mumbai
From a modest ₹10,000 loan in 1983 to building the world’s fifth-largest generic drug maker, Dilip Shanghvi’s journey is pure entrepreneurial grit.
- Wealth Source: Sun Pharma
- Highlight: Acquired Ranbaxy Laboratories in 2014, cementing Sun’s global standing.
- Family Role: His son Aalok Shanghvi plays an active role in operations.
3. Radhakishan Damani & Family – $31.5 Billion
Founder, Avenue Supermarts (DMart) | Mumbai
Known as the “quiet billionaire,” Damani is admired for his low-profile lifestyle despite his massive retail success.
- Wealth Source: DMart retail chain
- Highlight: Over 330 DMart stores across India, known for value pricing.
- Notable: Also mentor to market ace Rakesh Jhunjhunwala (late).
4. Kumar Mangalam Birla – $24.8 Billion
Chairman, Aditya Birla Group | Mumbai
Taking over the Aditya Birla Group at just 28, Kumar Mangalam Birla has grown it into a US$66 billion empire across metals, cement, finance, and telecom.
- Wealth Source: Diversified (Aditya Birla Group)
- Highlight: Active presence in over 40 countries.
- Family: His children Ananya and Aryaman are beginning to take leadership roles.
5. Cyrus S. Poonawalla – $24.5 Billion
Founder, Serum Institute of India | Pune
Cyrus Poonawalla is globally known as the “Vaccine King.” His Serum Institute produces more than 1.5 billion vaccine doses annually.
- Wealth Source: Serum Institute of India
- Highlight: Played a key role in COVID-19 vaccine supply.
- Family Role: Son Adar Poonawalla leads as CEO.
6. Bajaj Family – $23.4 Billion
Bajaj Group | Pune & Mumbai
One of India’s most respected business families, the Bajajs have been household names for decades.
- Wealth Source: Bajaj Auto, Bajaj Finserv, Bajaj Allianz
- Highlight: India’s top two-wheeler manufacturer & a major player in financial services.
- Leaders: Rajiv Bajaj (Auto) and Sanjiv Bajaj (Finserv).
7. Shapoor Mistry & Family – $20.4 Billion
Shapoorji Pallonji Group | Mumbai
The low-profile Mistry family controls one of India’s oldest construction and engineering empires.
- Wealth Source: Shapoorji Pallonji Group + stake in Tata Sons
- Highlight: Built landmarks like the Reserve Bank of India and Bombay Stock Exchange.
8. Uday Kotak – $15.3 Billion
Founder, Kotak Mahindra Bank | Mumbai
From a small finance company in the 1980s to one of India’s largest private banks, Uday Kotak embodies vision-led banking.
- Wealth Source: Kotak Mahindra Bank
- Highlight: Known for conservative yet innovative banking practices.
9. Mangal Prabhat Lodha – $12.0 Billion
Founder, Lodha Group | Mumbai
Politician and businessman, Lodha transformed Mumbai’s skyline with luxury real estate projects under Macrotech Developers (Lodha Group).
- Wealth Source: Real Estate
- Highlight: Projects like World One Tower and Palava City.
10. Jamshyd Godrej – $11.1 Billion
Chairman, Godrej & Boyce | Mumbai
From locks and safes to engineering and appliances, the Godrej legacy is deeply tied to Mumbai’s industrial history.
- Wealth Source: Godrej Group holdings
- Highlight: Known for ethical business practices and diversified industrial base.
The Bigger Picture
Together, these 10 billionaires represent more than $300 billion in combined wealth, fueling Maharashtra’s economy and creating millions of jobs. Their influence spans industries—telecom, finance, pharmaceuticals, retail, and real estate—making Maharashtra not just India’s richest state but also a global economic player.
Conclusion
Maharashtra’s millionaire surge is not a statistic—it’s a story of ambition, resilience, and global vision. From Ambani’s telecom revolution to Damani’s retail empire and Poonawalla’s vaccines, these leaders are not only India’s richest but also key architects of its future.
As the state continues to dominate wealth creation in India, the lives and legacies of these 10 tycoons will remain closely watched both at home and abroad.
