Mukesh Ambani has again made his to the top! Yes, the magnate has emerged as the richest man of India of 2023, as per Forbes!
Who else made the cut? Let’s find out!
Mukesh Ambani Emerges As Richest Man of India: Forbes
Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, ascended to the top spot on Forbes’ 2023 list of India’s 100 Richest, boasting a staggering net worth of $92 billion.
This substantial rise in wealth followed the strategic move of spinning off and listing Jio Financial Services, a collaboration with BlackRock in asset management.
Gautam Adani, India’s richest person in 2022, faced a major setback after a damaging report by US short-seller Hindenburg Research led to a sharp drop in his company’s shares. Despite a partial recovery, Adani’s net worth, including family assets, fell to $68 billion. This marked the largest decrease in both absolute and percentage terms, placing him now in the second position, trailing behind Ambani.
Interestingly, the collective wealth of India’s 100 Richest remained stagnant at $799 billion throughout 2023.
Shiv Nadar, Savitri Jindal Among Top 10 Richest People in India
Shiv Nadar, a software magnate, climbed two positions to claim the third spot with a net worth of $29.3 billion. This was propelled chiefly by a remarkable 42% surge in HCL Technologies’ shares over the past year. Occupying the fourth position was Savitri Jindal, a key figure in the powerful Jindal Group, which has interests in power and steel companies, with a net worth of $24 billion. This marked a substantial 46% increase from the preceding year, largely attributed to the recent IPO of her son’s ports unit, JSW Infrastructure. Lastly, Radhakrishnan Damani’s net worth stood at $23 billion, down from $27 billion the previous year.
In the year 2023, three new entrants made their mark: Renuka Jagtiani, chairwoman of Landmark Group, a retailing giant headquartered in Dubai, secured the No. 44 position with a net worth of $4.8 billion following the passing of her husband Micky Jagtiani in May. Additionally, the Dani family (No. 22, $8 billion) of Asian Paints, heirs to the late patriarch Ashwin Dani, who passed away in September, joined the list. The third newcomer is K.P. Ramasamy (No. 100, $2.3 billion), a garment exporter and the founder-chairman of K.P.R. Mill.
Top 10 Richest Individuals in India
In summary, the top 10 richest individuals in India for 2023 are:
1) Mukesh Ambani; $92 billion
2) Gautam Adani; $68 billion
3) Shiv Nadar: $29.3 billion
4) Savitri Jindal; $24 billion
5) Radhakishan Damani; $23 billion
6) Cyrus Poonawalla; $20.7 billion
7) Hinduja Family; $20 billion
8) Dilip Shanghvi; $19 billion
9) Kumar Birla; $17.5 billion
10) Shapoor Mistry & Family; $16.9 billion
