As the family's net worth increased to $116 billion, Adani Group chairman Gautam Adani on Thursday emerged as the highest dollar gainer on Forbes India's list of the 100 richest tycoons.
Gautam Adani added $48 billion to the list with his brother Vinod Adani to move up to the second spot. According to the Forbes report, Mr. Adani showed signs of strength following the "attack on short sales last year." This translates to an increase in wealth of 71%.
Reliance Industries chairman and managing director Mukesh Ambani's wealth increased by $27.5 billion over the past year, bringing his total net worth to $119.5 billion. Mukesh Ambani retained the top spot on 2024 Forbes’ list of 100 richest Indian tycoons. Mukesh Ambani released bonus shares as a Diwali present for Reliance investors at the same time as this. Mukesh Ambani was the second-biggest gainer in terms of dollars, according to Forbes, with his wealth increasing by $27.5 billion to $119.5 billion over the previous year. With his current $108.3 billion net worth, he is the 13th richest person in the world.
The combined wealth of India's 100 richest tycoons broke the $1 trillion mark for the first time in a record-breaking year. According to a Forbes report, over 80% of the nation's richest tycoons are now twice as wealthy as they were in 2019 and wealthier than they were a year ago.
The largest gainer was Gautam Adani, chairman of the Adani Group, who saw his net worth increase to $116 billion after gaining $48 billion. Adani's comeback comes after a noteworthy recuperation from the Hindenburg Research short-selling scandal of the previous year. His strategy included placing family members in key positions within his business.
For the wealthiest people in India, 2024 was a momentous year as the top 100 individuals' combined fortune surpassed $1 trillion for the first time. According to Forbes, these tycoons' combined wealth increased to $1.1 trillion from $799 billion in 2023—a stunning 40% gain. The strong success of the stock market, which has seen the BSE Sensex rise 30% since last year, is credited with this spike. According to Forbes, "as a result, over 80% of those on the list are wealthier, with 58 increasing their respective net worths by $1 billion or more."
