On Tuesday, Indian billionaires Gautam Adani and Mukesh Ambani saw the biggest losses as domestic stock markets fell sharply. According to reports, Ambani's wealth dropped by $2.18 billion, pushing him to 17th place on Bloomberg's global billionaire list. Adani's fortune decreased by $2.27 billion, leaving him at $93 billion and securing the 18th spot.
Other Indian billionaires also faced losses. KP Singh $995 million, Kumar Birla $706 million, and Shapoor Mistry $672 million. Even US investor Warren Buffett took a hit, losing $1.15 billion.
The Indian stock market took a major dip, with the S&P BSE Sensex falling by 930.55 points to close at 80,220.72. Nifty 50 also dropped by 309 points to settle at 24,472.10.
Shares of Reliance Industries, led by Ambani, fell by nearly 2%, closing at Rs 2,684.15. Adani Group stocks also suffered, with Adani Power down by 2.25%, Adani Enterprises 3.29%, Adani Ports 0.76%, Adani Wilmar 2.84%, and Adani Green 1.57%.
Despite these losses, both Adani and Ambani have seen gains throughout the year. Ambani's total wealth stands at $101 billion, with a yearly increase of $5.07 billion. Adani’s net worth is $93 billion, growing by $8.74 billion this year.
Globally, Elon Musk remains the richest person with a fortune of $240 billion, despite a recent $629 million decline. Warren Buffett’s wealth stands at $146 billion, with an overall increase of $25.8 billion this year.
