Gautam Adani, the chairman of the Adani Group, has retained his position as India’s second-richest man in the Hurun India Rich List 2025. However, the billionaire saw a sharp 30% fall in his net worth in the last one year.
Adani and Ambani see decline in net worth
According to the report, the Adani family’s wealth stands at Rs 8.15 lakh crore this year, down 30% from last year.
Gautam Adani, however remains behind Reliance Industries chairman Mukesh Ambani, who reclaimed the top spot with Rs 9.55 lakh crore. Ambani also saw a 6% fall in his net worth in the last 1 year.
The decline in billionaire wealth comes amid market corrections, high borrowing costs, and valuation pressures across companies. “Headwinds — such as energy-sector erosion, global commodity volatility, high borrowing costs, governance scrutiny, the slide in Gautam Adani’s fortunes, the decline in Mukesh Ambani’s net worth, pharma’s post-pandemic cooling, corrections in select FMCG stocks, and valuation pressures on late-stage startups — tempered exuberance.”
Adani’s wealth grows 1.6 times in five years
However, the report noted that over the past five years, Adani’s wealth has grown 1.61 times — from Rs 5.05 lakh crore in 2021 to Rs 8.15 lakh crore in 2025.
Adani Group heads a diversified conglomerate with interests in ports, energy, logistics, and infrastructure. Under his leadership, the group has also emerged as a major force in India’s renewable energy transition, reflecting his vision of integrating large-scale infrastructure with the nation’s growth ambitions. The group owns Mundra Port in Gujarat, the country’s biggest private port, and has made strong bets in the renewable energy sector, aligned with India’s green transition goals.
SEBI gives clean chit to Adani Group in Hindenburg case
It is important to note that the group also faced a major blow in the last two years because of the Hindenburg case, which began in 2023.
On January 24, 2023, US-based short-seller Hindenburg Research published a report accusing the Adani Group of stock manipulation, accounting irregularities, and using offshore shell companies in tax havens to inflate share prices and conceal debt. However, on September 18, SEBI gave a clean chit to the Adani Group.
The report noted that the combined wealth of the top 10 in the Hurun India Rich List 2025 equals 28% of the rest of the list. Mukesh Ambani and Gautam Adani’s wealth alone accounts for 12% of overall wealth.