Mumbai: Mukesh Ambani has raced ahead of Gautam Adani to become the richest Indian on a list of wealthiest people in the country.
The 66-year-old chairman of the diversified Reliance Industries saw his wealth growing by a marginal 2 per cent to Rs 8.08 lakh crore, while Adani’s fortune plummeted by 57 per cent to Rs 4.74 lakh crore, as per the 360 ONE Wealth Hurun India Rich List 2023.
Anas Rahman Junaid, managing director and chief researcher at Hurun, attributed the decline in Adani’s wealth to the Hindenburg report published in January.
In January, the US-based short seller came out with a damning report on the Adani Group, alleging a slew of irregularities which led to a sharp correction in the group stocks and consequent wealth erosion for the promoter family.
Adani has denied all the allegations. A total of 1,319 individuals from 138 cities feature on the list which uses August 30 as the base date to assess fortunes.
