Adani only one among the 10 richest to see net worth rise
Live MintBusiness tycoon Gautam Adani, who became the third-richest person in the world on Tuesday, is also the only one among the world’s 10 wealthiest people to have seen his net worth increase this year, a Mint analysis of the Bloomberg Billionaires Index showed. As of Tuesday, as many as 392 of the top 500 billionaires saw their net worth drop because of the sharp correction in shares for much of this year amid red-hot inflation, reversal of easy monetary policies, the Russia-Ukraine war, and fears of an imminent recession. India had 18 billionaires in the top 500, out of whom only two apart from Adani—Reliance Industries chairperson Mukesh Ambani and former Eicher Motors top boss Vikram Lal, ranked 11 and 368—saw their net worth rise this year. Wipro founder Azim Premji saw the sharpest drop in net worth among Indian billionaires, both in absolute and percentage terms: $16 billion, or 39% of his net worth this year. The combined net worth of the top 500 billionaires has dropped 14% this year so far, but the gains made by Adani and Ambani have led Indians on the list to post a 4% increase.