Reliance Industries chairman Mukesh Ambani has topped the 360 ONE Wealth Hurun India Rich List 2023, surpassing Gautam Adani of the Adani Group. According to the recently released rankings, Ambani’s wealth experienced a marginal 2% growth, reaching Rs 8.08 lakh crore. In contrast, Gautam Adani’s fortune plummeted by 57% to Rs 4.74 lakh crore due to a significant stock market downturn caused by allegations made by US-based short seller Hindenburg Research in January. The report accused the Adani Group of accounting frauds spanning decades and blatant stock market manipulation. Despite vehemently denying all allegations, the Adani Group suffered a sharp correction in its stock prices, leading to substantial wealth erosion for the promoter family. Ambani’s steady financial standing in the face of market challenges underscores his resilience and strategic acumen. The Hurun India Rich List 2023 is a testament to Ambani’s enduring success in navigating complex market dynamics.
