Mukesh Ambani regains top spot as Asia’s richest person in Forbes Billionaire 2023 list

• ByStartupStory     |    April 5, 2023

On Tuesday, Forbes released its annual Billionaire 2023 list, which saw Mukesh Ambani, chairman of Reliance Industries, regain his position as Asia’s richest person, with a net worth of $83.4 billion. Ambani, who was ranked at No. 9 on the world billionaire list, had surpassed $100 billion in revenue last year, making Reliance Industries the first Indian company to do so.

Ambani’s rival Gautam Adani, who had held the top spot earlier this year with a net worth of $126 billion, dropped to No. 24 on the list, following allegations of stock manipulation and accounting fraud by US short-seller Hindenburg Research. Adani’s net worth currently stands at $47.2 billion, making him the second richest Indian after Ambani.

Record number of Indians on Forbes’ Billionaire 2023 list, but combined wealth faces reality check

 

Forbes’ Billionaire 2023 list also revealed that there are a record number of Indians on the list, with 169 billionaires in total, up from 166 last year. However, the combined wealth of these individuals faced a reality check, dropping 10% to $675 billion from $750 billion in 2022.

Among the newcomers on the list are Nikhil Kamath, co-founder of discount brokerage Zerodha, and his older sibling Nithin Kamath, with net worths of $1.1 billion and $2.7 billion, respectively. Four people returned to the list this year after previously falling off, including Keshub Mahindra, chairman emeritus of Mahindra & Mahindra, who is the oldest Indian billionaire at 99 years old and has a net worth of $1.2 billion.

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