The combined wealth of 100 of India’s richest grew $25 billion (Rs 2.06 lakh crore) to $800 billion (Rs 66.03 lakh crore), driven by “record-breaking” feat by Asia’s wealthiest man Gautam Adani, according to a report by Forbes Asia.
The post-pandemic era, which witnessed a demand revival and lifted the economy to become the world’s fifth largest, also saw a weaker rupee that fell 10% dragging the Indian stock markets.
Despite this, Adani was able to change the pecking order at the top for the first time since 2008, the report said.
The billionaire businessman doubled his fortune this year to emerge as the new “No. 1” in the country, the report said. Adani also, for a while, became the second richest on the planet.
Adani, who stood as the biggest gainer this year in both percentage and dollar terms, announced he would be investing $100 billion over the next decade with 70% of it in green energy.
Meanwhile, Mukesh Ambani, who owns Indian conglomerate Reliance Industries Ltd., has taken up the position of being the second richest in the country, with a fortune of $88 billion (Rs 7.26 lakh crore). This is 5% lower than last year, the report added.
Adani and Ambani now account for 30% of the total wealth of India’s 100 richest.