Outlook Business Desk
Hurun Global Rich List 2025 dropped Reliance Industries chairman Mukesh Ambani out of the top 10 richest individuals ranking in the world.
Reliance Industries chairman and Asia's richest man dropped out of the top 10 richest persons elite club as his wealth dropped by Rs 1 crore compared to last year due to rising debt levels.
Reliance Industries outstanding debt has increased from Rs 3,11,743 crore in Q3 FY24 to Rs 3,50,453 crore in Q3 FY25. The rise in debts is largely due to increasing business expansion by the oil-to-telecom conglomerate's, including 5G investments, scaling up of retail and renewable energy ventures.
According to Forbes, Mukesh Ambani's net worth has increased significantly from $21 billion in 2015 to $96.9 bn in 2025.
The reason behind the rise of Mukesh Ambani as the richest man of India is the rapid expansion of Reliance industries businesses in various sectors including digital and technological investments, and telecom expansion with Reliance Jio emerging as the biggest telecom player in the country.
While Mukesh Ambani dropped out of the top 10 wealthiest person on the list, Adani Group's chairman Gautam Adani's emerged as India's top wealth gainer with nearly 13% rise in his fortune.
Roshni Nadar Malhotra, daughter of HCL founder Shiv Nadar, made her debut on the list and emerged as the only woman to be featured in the category of top 10 richest individuals in India.