Richest Rankings: Ambani Ascends, Adani Faces Setback in 2023
Richest Rankings: Ambani Ascends, Adani Faces Setback in 2023

Reliance Industries Chairman Mukesh Ambani saw a significant surge in wealth by $9.98 billion this year, attributed to a 9 percent rise in Reliance stock and the listing of Jio Financial, as reported by Bloomberg data.

Ranked as the richest Indian and 13th globally, Ambani's net worth climbed to $97.1 billion in 2023.

The year marked a remarkable turnaround for the world's wealthiest individuals, as the collective net worth of the top 500 richest soared by $1.5 trillion, rebounding from a $1.4 trillion loss in the preceding year.

Elon Musk reclaimed the title of the world’s richest person, surpassing French luxury tycoon Bernard Arnault. Bolstered by the successes of Tesla and SpaceX, Musk amassed $95.4 billion in gains after a $138 billion loss in 2022. His net worth now surpasses Arnault’s by over $50 billion, following a slowdown in luxury goods demand affecting LVMH Moet Hennessy Louis Vuitton SE shares.

Contrarily, Gautam Adani, the second richest Indian, faced a setback with a loss of $37.3 billion, bringing his net worth down to $83.2 billion, marking a 31 percent decline due to challenges faced by the Hindenburg. Adani experienced a significant $21-billion impact in January alone.

Apart from Adani, Radhakishan Damani of D-Mart witnessed a decrease in wealth, losing $187 million as Avenue Supermarts (D-Mart's parent company) shares remained stagnant throughout 2023.

Among other notable names, HCL Tech founder Shiv Nadar amassed $9.47 billion, reaching a net worth of $34 billion amidst headwinds for the IT sector, with HCL Tech shares rising by 41 percent this year.

Savitri Jindal, India's wealthiest woman and former Chairperson of OP Jindal Group, saw an increase of $8.93 billion, placing her in the top 3 with a total net worth of $24.7 billion.

Additionally, Kumar Mangalam Birla of Aditya Birla Group added $7.09 billion, Sun Pharma’s Dilip Shanghvi gained $5.26 billion, and Airtel’s Sunil Mittal increased his wealth by $3.62 billion in 2023.

Savitri Jindal Climbs to 5th Spot Among India’s Wealthiest, Surpassing Mukesh Ambani and Gautam Adani

Adani Group Pledges $723 Million Investment in Green Energy Projects

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