5 things to know about Renuka Jagtiani, India's newly minted billionaire, according to Forbes 2024 list

India sees surge in new billionaires, including Renuka Jagtiani of Landmark Group with $4.8 billion net worth, as per Forbes' New Billionaires 2024 report.

India welcomed 25 new billionaires this year, including Renuka Jagtiani, chief executive officer of Landmark Group, with $4.8 billion, according to a new report from Forbes.

Renuka Jagtiani serves as CEO of Landmark Group, an e-commerce conglomerate. (Landmark Grou)

Forbes' New Billionaires 2024 identifies 2,781 billionaires worldwide in 2024, collectively valued at a record $14.2 trillion. The surge in global wealth has resulted in 265 new billionaires this year, up from 150 in 2023, the report said.

Who is Renuka Jagtiani?

1. Renuka Jagtiani serves as CEO of Landmark Group, an e-commerce conglomerate founded by her late husband Micky Jagtiani, who passed away in May 2023.

2. Landmark Group, established in 1973 with a single store in Bahrain, has expanded into a global retail and hospitality powerhouse. Presently, it boasts over 25 proprietary brands spanning retail, hospitality, food, and leisure sectors.

3. The group's growth trajectory has been remarkable, with a presence across more than 2200 retail stores, leisure, and hospitality outlets across the Middle East, India subcontinent, Southeast Asia, and Africa.

4. Under Renuka Jagtiani's leadership, Landmark Group has witnessed significant digital transformation, pioneering omnichannel retail practices nearly a decade ago, said the group's website.

5. Renuka Jagtiani's vision and strategic acumen have been pivotal in shaping multiple brands and pioneering new concepts within Landmark Group, contributing to its sustained success and market leadership, the website added.

Forbes' New Billionaires 2024 | Top points

• A diverse group of new billionaires has emerged, including figures from fashion, sports, and music, collectively holding $510 billion in wealth.

• The United States leads with 67 newcomers, with Todd Graves, founder of Raising Cane's, topping the list at $9.1 billion.

• China nearly doubled its new billionaires from last year, totalling 31, despite economic challenges, with Shein co-founders Maggie Gu, Molly Miao, and Ren Xiaoqing each worth $4.2 billion.

• Italy’s Andrea Pignataro, a former bond trader, emerges as the wealthiest newcomer, amassing $27.5 billion in wealth. He founded the London-based financial software firm ION Group in 1999, transforming it into a significant rival of Bloomberg LP and FactSet through strategic acquisitions.

• The manufacturing industry stands out as the primary source of new billionaires this year, with 46 individuals entering the billionaire ranks. Among them is India’s Anil Gupta, chairman of KEI Industries, a Delhi-based company he inherited and expanded into a leading manufacturer of stainless steel wires and power cables.