Acharya Balakrishna, Baba Ramdev’s loyalist and the Managing Director of Patanjali is now officially one of the richest men in India.
According to the Hurun India Rich List 2016, Acharya Balakrishna has a wealth of Rs.25,600 crore making him the latest entrant at rank 25 among the 339 on the list.
The 44-year-old Balakrishna is also the highest ranker among the newcomers on the list and is also the highest money maker in the FMCG sector.
Of course, the reason why Balakrishna is on the list is because of the rising popularity of Patanjali products in the market.
Hurun Rich List
described Patanjali as “India’s answer to Unilever”. The rich list itself is China’s answer to Forbes. Hurun started compiling a richest Indians list in 2012.
Patanjali is the clear winner in the FMCG industry.
“In 2016 when most sectors failed to keep up the momentum, FMCG registered a decent growth of 14% in terms of the cumulative wealth. Yoga Acharya’s Patanjali took the market by storm and is eating away market share of other multinational FMCG’s. Patanjali registered a turnover of Rs.5,000 Cr and expects to hit Rs.10,000 Cr in 2017,” Hurun Rich List says. Balakrishna reportedly
owns almost 94 per cent of Patanjali. He started the business around 10 years ago after securing a loan of about Rs.60 crore. Though a cheating case was registered against Balakrishna in 2011 but was given a clean chit two years ago.