Days after the Reserve Bank of India restricted Paytm to add new customers on board while the company was ordered to conduct a comprehensive audit of its IT systems, Paytm shares tanked more than 24% after the company underwent negative press. Amidst this, there were news reports of its CEO Vijay Shekhar Sharma no longer being a billionaire after his personal net worth fell decisively.
Nykaa founder and CEO #FalguniNayar has become the wealthiest new entrant in the Hurun Global Rich List 2022, boosted by the beauty company’s stellar IPO and debut on markets.— Mint (@livemint) March 17, 2022
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It has now been learnt that Nykaa’s founder Falguni Nayar whose personal wealth has soared multifold over the years, stands with USD 4.9 Billion personal net worth, as reported by Hurun’s Global Rich List for 2022. If that has to be calculated with the Paytm founder’s net worth, it turns out five times more with Sharma standing at USD 999 Million after the fall. While Paytm shares continued to fall after its market listing in November 2021, it resulted in the downfall of Sharma’s personal wealth from USD 2.35 Billion at the peak in November to now close to one billion. Sharma has been losing around Rs 88 crore daily since Paytm’s listing.
Falguni Nayar Shines in the day while standing at 556th spot in Forbes’ real-time billionaire’s list. She became the first self-made female billionaire in India starting her venture Nykaa, a beauty products brand at the age of 50. The company was listed as a unicorn last year with new funding of Rs 100 crore from an existing investor.
💰💸 [𝐇𝐮𝐫𝐮𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐑𝐢𝐜𝐡 𝐋𝐢𝐬𝐭 𝟐𝟎𝟐𝟐] From Mukesh Ambani and Gautam Adani to #Nykaa‘s Falguni Nayar (who debuts on the list) and NR Narayana Murthy — here are India’s richest businesspeople.— Business Today (@business_today) March 17, 2022
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On Thursday, Paytm share price has closed at 594.25, with a fall of 6.28%. In contrast, the share price of FSN E-Commerce Ventures which owns Nykaa stands at Rs 1,553 with an increase of 3.8%. The 2022 Hurun Global Rich List added a record 490 new faces with 51 billionaires from India. The country stands at the third position in the number of billionaires in the list, comfortably ahead of the UK which stands at the fourth position.