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.
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.
“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.