Reliance Industries Chairman and Managing Director Mukesh Ambani have maintained his spot as the wealthiest individual in Asia.
His rival Gautam Adani tumbled to No. 24, Forbes said in its Billionaire 2023 list released on Tuesday.
Ambani has been ranked 9th in the Forbes' 37th annual World's Billionaires List 2023, with an estimated net worth of USD 83.4 billion. Mukesh Ambani was ranked 10th in the prestigious list last year, with an estimated net worth of USD 90.7 billion.
Adani was the world’s third-richest person on January 24, when he was worth nearly USD 126 billion. A report issued by US short-seller Hindenburg Research later that day, however, sent his companies’ shares plummeting,” Forbes said.
In the latest list this year, Mukesh Ambani is ranked higher than Steve Ballmer of Microsoft, Larry Page and Sergey Brin of Google, Mark Zuckerberg of Facebook and Michael Dell of Dell Technologies.
Gautam Adani remained India's second most wealthy person but slipped to the 24th rank globally following the recent rout in share prices of Adani Group companies.
While Forbes' global count of billionaires slipped from 2,668 last year to 2,640 in 2023, the tally in India improved from 166 in 2022 to 169 this year.
According to Forbes, the United States still boasts the most billionaires, with 735 list members worth a collective USD 4.5 trillion. China (including Hong Kong and Macau) remains second, with 562 billionaires worth USD 2 trillion, followed by India, with 169 billionaires worth USD 675 billion.