Mukesh Ambani reclaims the top spot in Forbes ranking of India’s 100 richest people

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 […]

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Edited By: Sonia Dham
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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.

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.

Let’s take a look at the top 10 richest Indians in Forbes

  • Mukesh Ambani, Net Worth: $92 billion
  • Gautam Adani, Net Worth: $68 billion
  • Shiv Nadar, Net Worth: $29.3 billion
  • Savitri Jindal, Net Worth: $24 billion
  • Radhakishan Damani, Net Worth: $23 billion
  • Cyrus Poonawalla, Net Worth: $20.7 billion
  • Hinduja Group, Net Worth: $20 billion
  • Dilip Shanghvi, Net Worth: $19 billion
  • Kumar Birla, Net Worth: $17.5 billion
  • Shapoor Mistry & Family, Net Worth: $16.9 billion