India's billionaire club shrinks to 120, Gautam Adani tops rich list

In comparison, Ambani, who topped the list last year, has seen a 2.5 per cent decline in his family's net worth to $101.75 billion from $104.4 billion a year ago

Illustration by Ajay Mohanty

Illustration by Ajay Mohanty

Krishna Kant Mumbai
The year 2022 saw many lose the 'billionaire' tag, though some of the richest Indian promoters have become even richer.

The number of dollar-billionaire promoters in India (those with a net worth of $1 billion, or around Rs 8,241 crore) has fallen to 120 from an all-time high of 142 at the end of 2021. Also, the billionaire promoters’ combined wealth is down 8.8 per cent to around $685 billion (Rs 56.5 trillion) from $751.6 billion (Rs 56.62 trillion) a year ago. The fall in rupee terms is not significant due to its depreciation versus the US dollar.

A stark outperformer in the rich list is Gautam Adani, who has toppled Mukesh Ambani, chairman and managing director of Reliance Industries, to become

First Published: Dec 28 2022 | 9:50 PM IST

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