2023 Hurun Global Rich List: Ambani retains richest Indian tag with net worth of $82 bn

Chairman of Reliance Industries, Mukesh Ambani is the only Indian to be included again in the list of top 10 billionaires in the world, according to a report compiled by research platform Hurun in coordination with real-estate group M3M titled 'The 2023 M3M Hurun Global Rich List' on Wednesday.

According to this list, among Indian billionaires, Ambani ranked first with a net worth of $82 billion, followed by Gautam Adani with a net worth of $53 billion. Cyrus Poonawalla is in third place with a net worth of $28 billion. Shiv Nadar and their family is fourth with $27 billion and Lakshmi Mittal is fifth with $20 billion.

According to the report, Mukesh Ambani's wealth has shrunk at the rate of 20% and his net worth was $82 billion. Mukesh Ambani is the ninth richest person in the world. On the other hand, Gautam Adani has registered a wealth decrease of 35% y-o-y, and in the list of the world's rich, he is in the 23rd place.

India's other top 10 billionaires include Dilip Shanghvi & family - who have a net worth of around $17 billion, followed by Radhakishan Damani & family, who have a net worth of $16 billion. Kumar Mangalam Birla & family, chairman of the Aditya Birla Group is at the ninth position with a net worth of $14 billion, Kotak Mahindra Bank MD Uday Kotak is the tenth richest person in India with a net worth of $14 billion. 

Gautam Adani, who has been in the news recently after US-based short seller Hindenburg Group came out with a report alleging stock manipulation on part of the company, lost Rs 3,000 crore every week over the last year.

Where does India rank when it comes to wealth gain?

Eight Indian billionaires added more than $1 billion to their wealth over the last year, landing the nation at the sixth spot in the 2023 M3M Hurun Global Rich List. India is at the top of the league table for wealth depletion, in stark contrast to the 2022 M3M Hurun World Rich List. India has 41 billionaires who lost more than a billion dollars, compared to 178 and 123 billionaires who lost more than a billion dollars in China and the USA, respectively.

In terms of new additions, India ranks 3rd

2023 M3M Hurun Global Rich List added 176 new faces, from 18 industries and 99 cities. India added 16 billionaires and to land at the third spot, comfortably ahead of Italy which added 9 billionaires in this year’s list. The richest new entrant from India, Rekha Rakesh Jhunjhunwala & family, tops the list of top 16 new Indian entrants in 2023 M3M Hurun Global Rich List.

Over the last 5 years, Indian billionaires in 2023 M3M Hurun Global Rich List added $360 billion to their cumulative wealth – is equivalent to Hong Kong’s GDP.

(with inputs from press release issues by 2023 M3M HURUN GLOBAL RICH LIST)