Mukesh Ambani has pipped the Adani group chairman Gautam Adani to become the richest Indian on the 360 ONE Wealth Hurun India Rich List 2023. The list was released on 10 October.
Despite his wealth growing by only 2 per cent in the last year, Mukesh Ambani surpassed Gautam Adani, who dropped to the second spot. Adani's wealth has more than halved in the last year, resulting in a gap of Rs 3,30,000 crore between Ambani and Adani's wealth, which has increased.
Mukesh Ambani's total wealth now stands at nearly Rs 808,700 crore. The figure used to be Rs 165,100 crore in 2014.
India's rich list has seen an increase of 38 billionaires, bringing the total number to 259. India continues to establish itself as an economic powerhouse, while the developed world is facing a recession. Close to $1 trillion in combined wealth was amassed by almost 65 per cent of people in the rich list, which is equivalent to the combined GDP of Singapore and the UAE, as reported by Hurun.
There has been a lot of movement in the top 10 over the past year, with only Shiv Nadar at fourth place and Cyrus Poonawala at third place managing to maintain their positions from the previous year.
Vinod Shantilal Adani, the brother of Gautam Adani and last year's sixth richest Indian, has dropped out of the top 10 this year. His wealth decreased by 37 per cent, causing him to fall to twelfth on the list of richest Indians.
Uday Kotak, the chairman of Kotak Mahindra Bank, has also dropped out of the top 10 this year. His wealth decreased by 6 per cent, causing him to become the 11th richest man in the country. Kumar Mangalam Birla and his family, as well as Niraj Bajaj and his family, have both returned to the top 10 this year. Their wealth has increased by 5 per cent and 7 per cent respectively.