Mukesh Ambani reclaims top spot on Forbes list of India's 100 Richest

New Delhi, October 12

In a dramatic shift in the pecking order at the top, Mukesh Ambani has reclaimed the No 1 position on the 2023 Forbes list of India’s 100 Richest.

The collective wealth of India’s 100 Richest is at $799 billion this year.

India is on a high after hosting the G20 Summit in New Delhi this September and becoming the fourth country to land a spacecraft on the moon.

Reflecting this sentiment, India’s stock market rose14 per cent since fortunes were last measured.

However, that jump, tempered by a weaker rupee, was not reflected in the collective net worth of India’s 100 Richest, which flatlined at $799 billion.

Mukesh Ambani, who transformed his Reliance Industries into a diversified conglomerate, reclaimed the No1 spot with a net worth of $92 billion.

The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India’s richest person for the first time last year, reversed dramatically after a report by US shortseller Hindenburg Research in January sent his group’s shares tumbling.