The wealth of India’s top 100 richest people declined by nine percent this year; find out how much Ambani’s wealth has fallen…

New Delhi: The combined wealth of India’s 100 richest people has declined by nine percent this year to $1 trillion (88 lakh crore rupees). This is one of the largest declines in any year. This collective loss of nearly $100 billion reflects the dual pressures of a weakening rupee and a 3 percent decline in the Sensex since last year’s assessment.

Weakening rupee and a three percent decline in the Sensex are major reasons
According to analysts, this decline also indicates how global market volatility, limited capital investment, and sluggish investor sentiment have affected the fortunes of Indian billionaires across sectors, from energy and technology to manufacturing and infrastructure. Nearly two-thirds of those on the Forbes list are less wealthy than last year. This shows that this year’s financial challenges have not spared even the country’s largest business houses.

Mukesh Ambani Tops the Rich List
Despite a sharp decline in the net worth of the wealthy, Reliance Industries head Mukesh Ambani remains at the top. However, his wealth has declined by 12 percent. Gautam Adani and his family are in second place with a combined wealth of $92 billion. Adani’s wealth has remained stable after the Securities and Exchange Board of India (SEBI) dismissed Hindenburg’s allegations in September. Savitri Jindal, chairperson of the OP Jindal Group, has seen her wealth decline by $3.5 billion. Bharti Airtel’s Sunil Mittal’s wealth has increased by $3.5 billion, moving him to fourth place. He previously held the same position in 2008. HCL founder Shiv Nadar’s wealth has also declined.

Wealth of India’s top ten billionaires

• Mukesh Ambani – $105 billion
• Gautam Adani – $92 billion
• Savitri Jindal – $40.2 billion
• Sunil Mittal – $34.2 billion
• Shiv Nadar – $33.2 billion
• RK Damani – $28.2 billion
• Dilip Shanghvi – $26.2 billion
• Bajaj family – $21.8 billion
• Cyrus Poonawala – $21.4 billion
• KM Birla – $20.7 billion