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Ambani reclaims title of India's richest man from Adani
The Business Guardian
|October 11, 2023
Mukesh Ambani, the chairman of Reliance Industries, has surpassed Gautam Adani to claim the title of the richest Indian, according to the 360 ONE Wealth Hurun India Rich List 2023.
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Ambani’s wealth has seen a modest 2% increase, reaching Rs 8.08 lakh crore, while Adani’s fortune plummeted by 57% to Rs 4.74 lakh crore. This significant shift in rankings is attributed to a Hindenburg report published in January, which led to a sharp decline in Adani Group stocks and subsequent wealth erosion.
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