Gautam Adani reclaimed the top spot among India's richest people with $112.7 billion, while Mukesh Ambani slipped to second place. Forbes’ 2026 list showed Ambani lost $18.7 billion in wealth. Despite a difficult year for Indian markets, the combined wealth of the 100 richest people remained steady at $1 trillion.
Gautam Adani has once again reclaimed the top spot among India's richest people, with his fortune rising to $112.7 billion, while Mukesh Ambani slipped to second position, losing $18.7 billion in wealth, according to Forbes' 2026 list of India's 100 richest.
The rise comes despite a difficult year for Indian markets. Both the rupee and the stock market skidded, down 8.5% and 9.5%, respectively. Yet the combined wealth of India's 100 richest remained broadly unchanged at about $1 trillion, Forbes said.
However, his family's current fortune is still below the $150 billion peak it reached in 2022.
Ambani, however, is preparing for a potentially major catalyst - the listing of Jio Platforms.
Reliance's mobile operator has received regulatory approval for an initial public offering that could raise up to $3.8 billion. If completed at that size, the Jio IPO could become India's largest public offering, according to Forbes.
The shift at the top comes alongside changes further down India's billionaire rankings.
Savitri Jindal, matriarch of the O.P. Jindal Group, retained the third position, although her fortune edged down to $39.8 billion.
Steel tycoon Lakshmi Mittal was among the biggest percentage gainers. His wealth rose 74% to $34.7 billion, pushing him up eight places to No. 4.
Brothers Kushal and Chaitanya Desai, who share a $4.25 billion fortune, landed in the No. 69 spot as shares of cable maker Apar Industries nearly doubled over the year
Bhikhabhai, Chandubhai and Kanjibhai Virani, the founders of Balaji Wafers, also joined after selling a minority stake of the company to US private equity firm General Atlantic in January.