India has lost 28 billionaires since 2022; Gautam Adani sixth biggest loser with $28bn wiped out: Report

HAL share price gains

In NEW DELHI: According to the 2023 M3M Hurun World Rich List, the number of billionaires worldwide has decreased by 8% (from 3,381 in 2022 to 3,112 this year), and their combined wealth has decreased by 10% to $13.7 trillion during the last year.
The largest loser was Jeff Bezos of Amazon, whose wealth fell by $70 billion to $118 billion. Elon Musk came in second place, losing $48 billion. Gautam Adani, whose wealth fell by $28 billion to $53 billion, was the sixth-biggest loss.

After 28 individuals slipped off the list in the last year, India now has 187 billionaires. With 53% of the global billionaires, China and the US continue to top the list.

The remaining salient points are as follows:

  • 5 of the 187 billionaires in India are among the top 100, 30 of them reside abroad, 15 are newcomers, and 10 are female.
  • While 114 millionaires from all around the world moved to the US, none did so to India.
  • Since 2022, a total of 41 Indian millionaires have lost more than $1 billion. This list was topped by China, which has 178 billionaires that were impacted.
  • Mukesh Ambani (rank 66) has surpassed Gautam Adani (rank 61) to become the richest Indian, with an estimated wealth of $82 billion.
  • The only other Indian to make it into the top 10 is Mukesh Ambani.
  • Gautam Adani dropped to second place with a $28 billion net loss over the past year, losing over Rs 3,000 crore every week.
  • India continues to be the third-largest producer of billionaires in the world, with 187 billionaires living there and 16 new arrivals. If billionaires of Indian descent are included, the total increases to 217.
  • Indian billionaires have increased their total wealth by $361 billion during the past five years, which is equal to Hong Kong’s GDP.
  • Mumbai has 66 billionaires, followed by Bengaluru (39) and New Delhi (39) (21).
  • The most Indian billionaires were created in the healthcare industry, followed by consumer goods and chemicals. Nonetheless, the financial, healthcare, and retail sectors produced more billionaires worldwide.
  • Cyrus S. Poonawalla, founder of Serum Institute of India and the world’s largest vaccine manufacturer, is followed in wealth by Dilip Shanghvi and family, owners of Sun Pharmaceutical Industries, with $27 billion.
  • The wealthiest paint entrepreneur in the world is Ashwin S. Dani and family (377), who had $7.1 billion in assets.
  • The richest billionaires in aviation are based in India. The richest billionaires in aviation are Rakesh Gangwal and Rahul Bhatia and the family of “Indigo” airlines, with net worths of $3.6 billion and $3.3 billion, respectively.
  • With a wealth of $3.3 billion and a rise of 1,005 ranks over the past three years, BYJU’s Raveendran and family (994) are the second-richest businessperson in the education sector worldwide.
  • Gautam Adani, the third-richest energy entrepreneur on the rich list, has dropped 11 positions over the past year.
  • Mukesh Ambani, the richest telecom entrepreneur on the Hurun list, has an estimated net worth of $82 billion.