Mukesh Ambani Tops Forbes List of India's 100 Richest People
Mukesh Ambani, who serves as chairman and managing director of Reliance Industries, has secured the top position on Forbes' annual ranking of India's 100 wealthiest individuals for another year, maintaining his status as the country's richest person with assets valued at $105 billion. Ambani has recently expanded into the artificial intelligence sector through Reliance Intelligence and has announced intentions to take Jio public in 2026.
In second place is Gautam Adani along with his family, possessing wealth totaling $92 billion. The chairman of Adani Group saw his fortune recover following India's securities regulator's statement that fraud accusations made by Hindenburg Research lacked sufficient evidence, which helped calm investor worries that had triggered a significant decline in Adani share prices during 2023.
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Savitri Jindal from O.P. Jindal Group continues to be India's wealthiest woman, occupying third place even though her net worth decreased by $3.5 billion to $40.2 billion.
This year's most significant wealth increase belongs to Sunil Mittal, whose assets grew by $3.5 billion to reach $34.2 billion, allowing him to regain fourth place for the first time in 17 years.
Technology entrepreneur Shiv Nadar dropped one position to fifth place, maintaining a wealth of $33.2 billion.
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Notable newcomers to the list include the Doshi siblings (ranked 37th with $7.5 billion), whose company Waaree Energies, the nation's leading solar panel producer, performed exceptionally well in its stock market launch, and Sunil Vachani (ranked 80th with $3.85 billion) from Dixon Technologies, an important company in India's electronics manufacturing sector.
Several individuals who had previously been absent from the list made their return, including Leena Tewari from USV, P.N.C. Menon from Sobha, and K.P. Ramasamy from KPR Mill, while seven individuals who appeared in 2024 were no longer included. The minimum wealth requirement for inclusion decreased marginally to $3.2 billion.
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According to Forbes, the collective net worth of India's top 100 wealthiest individuals decreased by nine percent, equivalent to approximately $100 billion, resulting in a total of $1 trillion due to fluctuations in global markets. The Forbes India Rich List 2025 can be accessed digitally at forbes.com/india and forbesindia.com, and is scheduled to be published in Forbes Asia's October edition.