Billionaire Sunil Mittal sees biggest surge in net worth in Forbes India’s 100 richest, Ambani & Adani report losses

Forbes India’s 100 Richest 2025: Sunil Mittal becomes the biggest dollar gainer, while Ambani and Adani see declines in their fortunes amid market challenges.

Sunil Mittal, Forbes India Rich list
Sunil Mittal was the biggest dollar gainer with his net worth, which he shares with his family, increasing by $3.5 billion to $34.2 billion.

India’s wealth landscape faced significant challenges in 2025 as a combination of U.S. tariffs, a weaker rupee, and a 3% decline in the benchmark Sensex led to a 9% erosion in combined wealth to $1 trillion. Despite government efforts, including sweeping reductions in the goods and services tax to boost consumption, nearly two-thirds of the country’s richest saw their fortunes decline.

Reliance and Adani See Fortunes Dip

India’s richest person, chairman and managing director of oil-to-telecoms giant Reliance Industries, saw his net worth decline by 12% or $14.5 billion, though he remains a “centibillionaire” with $105 billion. Mukesh Ambani, who ventured into AI with the launch of Reliance Intelligence, said he plans to list telecoms unit Jio in 2026.

At No. 2 is infrastructure tycoon Gautam Adani with a fortune of $92 billion shared with family. The founder and chairman of Adani Group received a reprieve in September when India’s securities regulator stated that U.S. short seller Hindenburg Research’s allegations of fraudulent transactions could not be established. The claims had triggered a massive sell-off in group companies’ shares in 2023.

Sunil Mittal Shines Amid Decline

The composition of the ten richest remained largely unchanged, though most saw their wealth shrink. The notable exception in this group was telecoms magnate Sunil Mittal, whose Bharti Enterprises last year acquired close to a 25% stake in British telecoms major BT, where he now has a board seat. Mittal was the biggest dollar gainer with his net worth, which he shares with his family, increasing by $3.5 billion to $34.2 billion. He climbed three places to No. 4, a position he had last occupied in 2008.

Tech billionaire Shiv Nadar, last year’s fourth-richest, slipped to fifth place at a time when India’s IT companies with U.S. outposts have to contend with the Trump administration’s decision to impose a $100,000 fee on new H1-B visas.

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This article was first uploaded on October nine, twenty twenty-five, at eighteen minutes past six in the evening.
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