Interview Times 
FEATURE: Tuesday proved to be a tumultuous day for two of India’s wealthiest businessmen, Mukesh Ambani and Gautam Adani, as the billionaire landscape experienced significant shifts.
Mukesh Ambani Faces Major Losses
Mukesh Ambani, currently India’s richest man, faced a substantial setback, losing approximately ₹16,811,186,840 (about $2 billion) in a single day. This decline was primarily attributed to disappointing earnings reported by Reliance Industries, which led to a drop in the company’s stock price. As a result, Ambani fell one spot to 15th place on the Bloomberg Billionaires Index.
The financial figures for Reliance Industries revealed a 4.77% decrease in net profit for the July-September quarter. The company reported a net profit of ₹19,101 crore, a decline from ₹19,820 crore during the same period last year. The profit attributable to the owners also fell by 4.77%, reaching ₹16,563 crore compared to ₹17,394 crore in the previous year. Following this announcement, Reliance’s stock closed over 2% lower on Tuesday, marking a 3.34% decrease over the last five trading sessions.
Gautam Adani’s Wealth Rises
In stark contrast, Gautam Adani experienced a positive day, adding ₹266 million to his fortune, bringing his total net worth to ₹99.2 billion. The gap between Ambani and Adani’s wealth is narrowing significantly, particularly after the substantial fallout following the Hindenburg report last year. Adani’s resurgence has propelled him to 18th place on the global billionaire list.
Shifts Among Other Billionaires
The fluctuations weren’t limited to Ambani and Adani. Bernard Arnault, who previously held the title of the world’s richest person, faced a considerable loss of $3.46 billion, reducing his net worth to $182 billion and pushing him down to 5th place in the billionaire rankings.
Conversely, both Elon Musk and Jeff Bezos saw their fortunes grow. Musk remains the richest person in the world, with a net worth of $241 billion, while Amazon founder Jeff Bezos holds steady in second place with a total wealth of $211 billion.
Tuesday’s market activity highlights the volatility of wealth among the world’s richest individuals, showcasing how quickly fortunes can change. As Mukesh Ambani grapples with losses, Gautam Adani continues to rebuild his wealth, signaling a dynamic shift in India’s billionaire landscape.
