Indian Billionaires Face Massive Wealth Erosion Amid Trump’s Tariff Shock
India’s wealthiest tycoons are reeling from a steep decline in fortunes as U.S. President Donald Trump’s renewed tariff measures spark global trade tensions and spook financial markets.
According to the Bloomberg Billionaires Index, Indian billionaires have collectively lost $30.5 billion (₹2.63 lakh crore) in the early months of 2025. The sharp sell-off in equity markets, driven by foreign institutional investor (FII) exits and fears of a global economic slowdown, has hit the net worth of top industrialists hard.
Mukesh Ambani, Asia’s richest man, has seen a $3.42 billion dip in wealth, despite Reliance Industries’ resilience. Jio Financial Services, however, has tumbled 24%, pushing Ambani to 17th on the global rich list with $87.2 billion.
Gautam Adani follows with a $6.05 billion drop, as Adani Enterprises slid 9% amid ongoing concerns over debt levels and market volatility. Tech magnate Shiv Nadar has faced the most severe blow—his fortune plummeting by $10.5 billion due to HCL’s underperformance.
Savitri Jindal’s wealth has declined by $2.4 billion, while pharma tycoon Dilip Shanghvi has lost $3.34 billion amid an 11% drop in Sun Pharma shares, impacted by regulatory challenges and weak earnings.
The Sensex and Nifty have declined about 4.5% year-to-date, with midcap and smallcap indices crashing over 14% and 17%, respectively.
As foreign investor outflows accelerate, India’s markets remain volatile—amplified by Trump’s trade tariffs that threaten to deepen the global economic rift.
