Mukesh Ambani Remains Richest Indian in Forbes’ 2024 Rankings

Mumbai: Mukesh Ambani, Chairman and Managing Director of Reliance Industries, has retained his position as the richest Indian for 2024, according to Forbes’ latest list of the 100 wealthiest tycoons in the country.

This year’s rankings marked a significant milestone, with the combined net worth of India’s top 100 wealth holders exceeding one trillion dollars for the first time.

Ambani experienced a substantial increase in his wealth, which rose by $27.5 billion over the past year to reach $119.5 billion. His current net worth is estimated at $108.3 billion, positioning him as the 13th richest person globally.

Gautam Adani, Chairman of the Adani Group, ranks second on the list with a family fortune of $116 billion. He and his brother Vinod Adani saw a remarkable gain of $48 billion, making them the biggest gainers in dollar terms this year. This financial recovery follows the fallout from the Hindenburg report, which had previously impacted the group’s market capitalisation.

Savitri Jindal of the O P Jindal Group ascended to the third spot for the first time, with a net worth of $43.7 billion, marking a rise of $19.7 billion from the previous year. She continues to hold the title of India’s richest woman.

Shiv Nadar, a prominent tech figure, is fourth with a net worth of $40.2 billion. Several billionaires, including Dilip Shanghvi ($32.4 billion), Radhakishan Damani ($31.5 billion), Sunil Mittal ($30.7 billion), Kumar Birla ($24.8 billion), Cyrus Poonawalla ($24.5 billion), and the Bajaj Family ($23.4 billion), round out the top ten.

The report highlights a robust stock market performance, with investors increasingly drawn to IPOs and mutual funds, contributing to the growing wealth among the rich. The BSE Sensex has surged by 30 percent since last year, reaching an unprecedented market frenzy.

Overall, the combined wealth of the top 100 individuals on Forbes’ 2024 rich list soared to a historic $1.1 trillion, reflecting a 40% increase from the $799 billion reported in 2023.