Chennai: Despite an erosion of 20 per cent or $21 billion in wealth, Reliance Industries’ chairman and managing director Mukesh Ambani continues to be among the top 10 richest individuals in the world. Mukesh Ambani’s current wealth has been valued at USD 82 billion. He is ninth in the list of 2023 M3M Hurun Global Rich List. Also for the third successive year, Mukesh Ambani retains the tag of Asia’s richest man.
Only a couple of months back, Gautam Adani of the Adani Group emerged as the richest Indian and the world’s second wealthiest person in the world. However, with the Hindenburg report, the Adani Group’s wealth has decreased by 35 per cent or $28 billion and his net worth is now USD 53 billion. Adani has slipped to 23rd position in the world’s rich list. A report in January by US short-seller Hindenburg led to Adani seeing his wealth down by more than 60 per cent from his peak.
The other Indian billionaires who figure in the world’s top 50 richest are, Cyrus Poonawalla (global rank 46th, wealth $27 billion), and Shiv Nadar and family (rank 50th, $26 billion).
Also read: Hindenburg fallout: Adani Group suspends work on Rs 34,900 crore petchem project
Interestingly, barring Poonawalla whose wealth went up by four per cent, the wealth of all other Indian billionaires in the global top 100 wealthiest had seen erosion.
In stark contrast to the 2022 M3M Hurun Global Rich List, India is at the top of the league table when it comes to wealth depletion.
When countries such as China and the US had 178 and 123 billionaires, respectively, who lost more than $1 billion, India has 41 billionaires who lost more than a billion-dollar YoY in the 2023 M3M Hurun Global Rich List.
In terms of number of billionaires who have added $1 billion or more over the last year, India occupies sixth rank in the list. India added 16 billionaires in 2022 and occupies the third spot, comfortably ahead of Italy which added nine billionaires in this year’s list.
The richest new entrant from India, Rekha Rakesh Jhunjhunwala & family, tops the list of top 16 new Indian entrants in 2023 M3M Hurun Global Rich List.
Over the last five years, Indian billionaires in 2023 M3M Hurun Global Rich List added circa $360 billion to their cumulative wealth – equivalent to Hong Kong’s GDP.
“M3M Hurun Global Rich List 2023 tells the story of the current global economy through the eyes of the entrepreneurs,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.