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