Savitri Jindal, India's wealthiest woman surpasses software mogul Azim Premji in net worth

India's richest woman, Savitri Jindal, has surpassed software tycoon Azim Premji in net worth, with a current fortune of nearly $25 billion. Over the last two years, Jindal's wealth, primarily derived from her position as Chairperson Emeritus of JSW Steel, has surged by 87%, while Premji experienced a significant 42% drop in net worth, attributed to a decline in Wipro's share value.

Azim Premji, who was once the third richest person in India, has seen a substantial erosion in his net worth since January 2022, now standing at $24 billion. The drop is largely linked to a 42% decline in Wipro's share value over the same period. As per the Bloomberg Billionaires Index, Azim Premji currently holds the sixth position, following Savitri Jindal.

While Jindal's interests span across steel, power, cement, and infrastructure, Wipro's founder chairman, Premji, drew the majority of his wealth from his 62.5% stake in Wipro, valued at $16.5 billion as of the latest calculation. Jindal's flagship firm, JSW Steel, contributes nearly 30% to her fortune, with additional contributions from JSW Infrastructure, Jindal Steel & Power, and JSW Energy.

The stock performances of Jindal's companies, particularly JSW Energy, Jindal Steel & Power, and JSW Steel, have positively influenced her wealth. In contrast, Azim Premji's net worth has been impacted by the decline in Wipro's share value. Notably, the rally in Tata Group stocks has also affected the rankings on India's wealth table, with Shapoor Pallonji Mistry and Shiv Nadar securing prominent positions.

Azim Premji, a 78-year-old businessman, is renowned for his philanthropy, having earmarked $7.5 billion worth of Wipro shares for charitable purposes in 2019. However, this generous donation has not been subtracted from his net worth calculation, as the shares remain under promoter entities with retained voting rights.