Mukesh Ambani overtakes Gautam Adani to secure ‘richest Indian’ title.

Delhi: Mukesh Ambani, chairman of Reliance Industries Limited, has reclaimed the title of the richest Indian, surpassing Adani Group chairman Gautam Adani, who experienced a substantial decline in wealth due to the scathing Hindenburg Research report, as per Hurun India Rich List 2023.

Hurun India and 360 ONE Wealth on Tuesday released the 360 ONE Wealth Hurun India Rich List 2023. This is the 12th annual ranking of the richest individuals in India.

The chairman of the Adani Group, Gautam Adani (61), fell to second place with a net worth of Rs 4.74 lakh crore. With a total wealth of Rs 2.78 lakh crore as of 2023, Cyrus S Poonawalla (82), the founder of the Serum Institute of India, has maintained his position at number three.

Gopichand Hinduja & family came in second with fortune of Rs. 1.76 lakh crore, followed by Shiv Nadar (78) of HCL in fourth place with value of Rs. 2.29 lakh crore. The founder and CEO of Sun Pharmaceutical Industries, Dilip Shanghvi, is ranked sixth overall with Rs 1.64 lakh crore.

Also featured in the top 10 list are LN Mittal & family (Rs 1.62 lakh crore), Radhakishan Damani (68) of Avenue Supermarts (Rs 1.44 lakh crore), Kumar Mangalam Birla & family (56) of Aditya Birla Group (Rs 1.25 lakh crore), and Niraj Bajaj and family (Rs 1.2 lakh crore)

In 2022, Adani was ahead of Ambani by a wealth gap of Rs 3 trillion. This year, Ambani has overtaken him by a margin of Rs 3.3 trillion. Commenting on the decline in Adani’s wealth, the report stated, “This represents the most substantial annual wealth decline ever recorded for an individual since the inception of the Hurun India Rich List.” The list was first published in 2012.

Despite the significant drop in his wealth in 2023, Adani remains the top gainer among the richest Indians over the past five years. According to the report, his wealth has multiplied fivefold from Rs 94,500 crore in 2019.