On the day of Union Budget 2024, the stock market closed with a small drop, but there were significant fluctuations during trading. Some stocks fell sharply, while others rose, impacting the wealth of the country's biggest billionaires. Mukesh Ambani saw a substantial decrease in his net worth. On Budget Day, it was expected that Reliance Industries shares would rise, boosting his net worth, but this did not happen.
According to the Bloomberg Billionaires Index, Ambani’s net worth dropped by over 1.10 billion dollars, or Rs 9200 crore. Despite this drop, his wealth had increased by 16 billion dollars earlier this year.
In the past few days, Ambani’s net worth fell by over 7 billion dollars. On July 19, his net worth was 119 billion dollars, but it has now dropped to 112 billion dollars, according to the report.
Reliance Industries' shares continued to fall on Wednesday, and further declines in Ambani's wealth might occur in the coming days.
In contrast, Gautam Adani’s wealth saw an increase. According to the Bloomberg Billionaires Index, Adani’s net worth increased by 751 million dollars, or Rs 63 crore, reaching 102 billion dollars. This year, his wealth has risen by 17.8 billion dollars.
