The world’s richest man, tech-billionaire Elon Musk, who now is also set to co-head US President-elect Donald Trump’s DOGE in the new administration, has topped Fortune’s 100 Most Powerful People in Business in 2024 list. The inaugural edition features leaders from 40 industries, ranging in age from their 30s to their 90s, Fortune said. While the top 10 featured 2 Indian-Americans, only one Indian businessperson made the list.
“You’ll come across very recognizable founders, chief executives of great businesses, disrupters, and innovators. What you won’t find: fossilized billionaires who are no longer active in business; nor will you find politicians, regulators, or seconds-in-command. In the end, the people who earned places on the Most Powerful People list share a vital trait: Their words, deeds, and wealth shape what others around them think and do,” Fortune said.
Which Indian made it to the list?
The Chairman and Managing Director of Reliance Industries, Mukesh Ambani was the sole Indian to get a spot. He narrowly missed out of the top 10 and was placed 12th.
“Mukesh Ambani, chairman of India’s Reliance Industries, knows how to throw a party. Business leaders (and fellow MPP candidates) like Meta’s Mark Zuckerberg and Samsung’s Jay Lee made the trek to India this year to attend some of the monthslong wedding festivities of Ambani’s youngest son, Anant. As of early November, Ambani was Asia’s richest person, with an estimated net worth of around $100 billion. Reliance is one of India’s most important conglomerates, with interests in petrochemicals, retail, entertainment, and telecommunications (and much more),” the official citation for Ambani read.
“Ambani is trying to groom the next generation to take over the lumbering conglomerate: Akash, his eldest son, is the chairman of the telecoms business Reliance Jio, while his daughter Isha is driving the growth of Reliance’s retail arm,” it added.
Who are the top 10?
- Elon Musk- CEO and Founder, Tesla, SpaceX
- Jensen Huang- CEO and Founder, Nvidia
- Satya Nadella- CEO and Chairman, Microsoft
- Warren Buffett- CEO and Chairman, Berkshire Hathaway
- Jamie Dimon- CEO and Chairman, JPMorgan Chase
- Tim Cook- CEO, Apple
- Mark Zuckerberg- CEO, Chairman, and Founder, Meta
- Sam Altman- CEO and Cofounder, OpenAI
- Mary Barra- CEO and Chair, General Motors
- Sundar Pichai- CEO, Alphabet (Google)
How many Indian-Americans were named in the top 100?
Six Indian-Americans, including Nadella and Pichai, made it to the list.
The four others are Shantanu Narayen, Adobe CEO and Chair; Neal Mohan, CEO YouTube; Vinod Khosla, Managing Partner and Founder Khosla Ventures; and Tarang Amin, CEO and Chairman e.l.f. Beauty.
Narayen was placed 52nd, Mohan at 69th, Khosla 74th and Amin at 94th positions.
What were the metrics used to compile the list?
- Size of the business the person runs, based on our screen that factors in mid-term (three-year) and short-term (past 12 months) revenue and profit growth, profitability, and market value.
- Health of the business, based on trailing 12-month measures of liquidity, operating efficiency, and solvency.
- Innovation: Has the person accomplished something nobody else has and that competitors followed?
- Influence: How greatly do their words and actions shape the behavior of others?
- Trajectory: Where is the person in the arc of their career?
- Impact: Is this person using their power to make the world a better place?
