India’s second richest man, Gautam Adani, hit the biggest hit, his net worth fell by $4.26 billion.
Indian stocks were beaten on Black Monday hours after U.S. President Donald Trump announced tariffs. Even Asia’s top billionaires, including Mukesh Ambani and Gautam Adani, have lost nearly US$46 billion or Rs 397,076 crore. According to the Bloomberg Billionaire Index, the world’s 20 richest people have accumulated $45.9 billion and disappeared from their destiny. Trump has given several reasons for his serious tariffs, including bringing manufacturing jobs back to the United States, which could take years.
Mukesh Ambani, Asia’s wealthiest man, experienced the second biggest loss as his wealth shrank by $3.48 billion to $83.4 billion, according to the Bloomberg Billionaire Index. India’s second richest man, Gautam Adani, hit the biggest hit, with his net worth falling by $4.26 billion to $70 billion. However, on Tuesday, all 11 listed Adani Group companies had a higher end, with a previous day’s decline bounce as the stock market recovered. The total market valuation for all 11 companies is Rs 12,18,53 million. Reliance Industries’ market cap hit Rs 1,599 crore on Tuesday.
Stocks rebounded sharply the day after facing the worst garbage in 10 months Tuesday. The 30-share BSE Sensex jumped 1,089.18 points, or 1.49% stable at 74,227.08, with 29 components ending in green. NSE Nifty soared 374.25 points, or 1.69%, to 22,535.85. During the day, the benchmark soared by 535.6 points, or 2.41%, to 22,697.20. Furthermore, with the stock market’s major comeback, investors’ wealth expanded by Rs 7.32 crore on April 8.
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