Reliance Industries chairperson Mukesh Ambani’s rank is down from 12th in December 2024 to 17th richest individual, according to the recent Bloomberg index
Adani Group chairman Gautam Adani’s net worth has dipped by $11.9 billion to $66.8 billion, according to the Bloomberg Billionaires Index. The port-to-power conglomerate’s head stood at 23rd position, which is a huge blow for the billionaire who was ranked the fourth richest person before the Hindenburg Research’s report.
A major chunk of his wealth is driven by the stakes of his six publicly listed companies including Adani Enterprises, Adani Power, Adani Total Gas, Adani Energy Solutions, Adani Ports and Adani Green Energy. The decrease in his net worth is mainly due to a decrease in share prices of the Adani Group’s listed companies. Adani Group companies’ have suffered mainly after the Hindenburg report first came out in 2023 and then US indictment order that alleged bribery charges against Gautam Adani along with his nephew Sagar Adani and several other top-level executives of the port-to-power conglomerate.
This also comes at a time when the two Indian indices, the National Stock Exchanges Nifty50 and the BSE Sensex, have been declining for the last few months. Sensex has declined more than 4% on a year-to-date basis, especially in the small caps investors have lost 4 lakh crore in the last two months, as per a recent CNBC-TV18 report.
Similarly, Reliance Industries chairperson Mukesh Ambani’s rank is down from 12th in December 2024 to 17th richest individual according to the recent Bloomberg index. According to the ranking, India’s richest person Mukesh Ambani’s net worth stood at $87.7 billion.
Shiv Nadar who ranked 44th on the index, witnessed a fall of $4.53 billion to $38.6 billion net worth Shapoor Paloonji Group’s Shapoor Mistry’s stood at 49th position and recorded a $2.73 billion decrease on a year-to-date basis to $35.9 billion net worth.
India’s richest woman and Jindal Group’s matriarch Savitri Jindal’s net worth too nosedived $3.90 billion to $28.4 billion.
While they witnessed a dip in their net worth, Tesla CEO Elon Musk’s net worth jumped to significantly to $397 billion primarily due to increasing valuations of his listed company coupled with his role in US President Donald Trump’s newly formed Department of Government Efficiency (DOGE).