Stock shares of multiple companies in the duo have declined, which have affected their net assets.
Mukesh Ambani and Gautam Adani are the richest and second-rich businessmen in India, respectively. The two billionaires are worth billions of dollars in their own businesses. However, on Tuesday, the loss of net assets from Reliance Industries and Adani Group Chairman was huge. This is mainly due to recent volatility in the Indan stock market, which has also affected the wealth of other major industrialists. BSE Sensex ended 78,017 on Tuesday, although it dropped to 77,745 in intraday trading. Several companies under the Adani Groups are facing significant losses in terms of their share value, thus reducing the owner’s wealth.
Mukesh Ambani’s net worth
Mukesh Ambani’s net worth fell by $1.42 billion (about Rs 12,100 crore) on Tuesday. Despite this, his net worth totaled $91.8 billion, according to the Bloomberg Billionaire Index. He is the 17th richest man in the world. Reliance Industries currently has a market capitalization of Rs 17.22 crore. The company’s share closed at Rs 1,270.90 on Wednesday.
Gautam Adani’s net worth
When his net worth fell by US$1.91 billion (about Rs 163 billion), the chairman of the Adani Group also caused huge losses. Currently, according to the Bloomberg Billionaire Index, his net worth is $73 billion. This year, Adani’s wealth has fallen by $5.71 billion. He is currently ranked 21st richest man in the world. As of March 26, his Adani Enterprises had a market capitalization of Rs 2.67 crore. The share of the flagship company of Adani Group closed at Rs 2,314 on March 26.
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