On the 2023 Forbes list of India’s 100 Richest, Mukesh Ambani reclaims the top spot, signalling a significant change in the hierarchy at the top. Mukesh Ambani reclaimed the top spot after dropping to Rank 2 in 2022.
The collective wealth of India’s 100 Richest people was flat this year at $799 billion. The ranking is also included in the December and October issues of Forbes India, respectively.
With a net worth of $92 billion, Mukesh Ambani, whose Reliance Industries turned into a multinational conglomerate, reclaims the top spot. Ambani confirmed his succession plan by adding his three children as non-executive directors to Reliance’s board in August, not long after spinning out and listing Jio Financial Services, which has an asset management joint venture with BlackRock.
📢 #ForbesIndiaRichList is now LIVE! Mukesh Ambani is back on the top spot. Savitri Jindal breaks into Top 5. Gautam Adani shaves off $82 billion from his net worth, and a lot more action in the Top 100 club of India's rich. Check the full list here: https://t.co/e3MvUKKLlU pic.twitter.com/ZbfHvRi558
— Forbes India (@ForbesIndia) October 12, 2023
Since fortunes were last assessed, India’s stock market has increased by 14%. The combined net worth of India’s 100 Richest, which stagnated at $799 billion, despite a weaker rupee.
The wealth of infrastructure tycoon Gautam Adani, who shot to fame last year when he for the first time surpassed Ambani as the richest person in India, drastically changed when a negative report by American short seller Hindenburg Research sent his group’s shares plummeting in January. His net worth, which includes the value of his family, dropped by an enormous $82 billion to $68 billion despite some recent growth, which puts him back in second place. This decline was the most in terms of both dollars and percentages.
The second wealthiest woman on the list is Rekha Jhunjhunwala (rank 28) with a net worth of $7 billion.
#ForbesIndiaRichList | The second wealthiest woman on the list is Rekha Jhunjhunwala (rank 28) with a net worth of $7 billion: https://t.co/LCMWqfYEDd pic.twitter.com/AoyTdMfSBv
— Forbes India (@ForbesIndia) October 12, 2023
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