Amongst all the reasons quoted for starting a startup, the most common ones are “wanting to create something”, “passion to do”, and “be independent”. Very few founders would blatantly admit “to be rich” as one. However, being rich just happens to be one of the by products of a successful startup.
Nine out of ten startups fail, but the ones that do sustain really rake in the moolah. And it can happen very, very quickly. So it’s no wonder that in a burgeoning startups ecosystem in India, some of the youngest richest Indians are startup founders.
While the top slots are claimed by industrialists like Reliance CEO Mukesh Ambani and Sun’s Pharma’s Dilip Sanghvi, of the 6 youngest richest Indians, 5 earned their wealth through their startups. The other was the scion of the Siyaram family, Balkrishna Tyres head Rajiv Poddar.
Here’s the list of these startup flounders in the order of wealth and age.
1. Ankit Bhati (28) and Bhavish Aggarwal (29), Ola co-founders
The IIT Bombay graduates have taken on reluctant governments and fierce competition from global rivals to usher in a revolution in how the urban Indian commutes. The co-founders of Ola Cabs are worth Rs. 2380 crore each, and are the only Indians on the Hurun list that are under the age of 30.
2. Kunal Bahl (32), Snapdeal co-founder
Bahl couldn’t get into IIT as an 18 year old, so he decided to move abroad for college. He ended up doing an MBA from Wharton, coming back, and setting up one of India’s most successful e-commerce companies, Snapdeal. Snapdeal is currently valued at $5 billion, and its 32 year old co-founder is worth Rs. 2314 crore.
3. Sachin Bansal (35) and Binny Bansal (35), Flipkart co-founders
Sachin Bansal and Binny Bansal, both IIT Delhi graduates and ex-Amazon employees, started Flipkart in 2007 from a house in Bangalore and with Rs. 4 lakh in their account. Thanks to their 7.5% stakes in Flipkart, they’re now worth Rs. 9010 crore each. Binny Bansal is also the youngest billionaire in India.
Startups might not be easy, but it sure looks like if you want to become really rich really young, they’re the way to go.