Mukesh Ambani Suffers ₹39,000 Crore Loss in 24 Hours as Stock Market Slump Hits Billionaires

A sharp fall in the Indian stock market has delivered a major blow to India’s richest businessmen. Reliance Industries Chairman Mukesh Ambani saw his net worth decline sharply within 24 hours, while Gautam Adani slipped out of the world’s top 20 richest list amid market volatility.

Mukesh Ambani Suffers Major Setback, Loses ₹39,000 Crore in 24 Hours

A steep decline in the stock market has significantly impacted the wealth of India’s two biggest industrialists. Mukesh Ambani’s net worth dropped by nearly ₹39,000 crore in just 24 hours, while Gautam Adani fell out of the global top-20 richest individuals list. This raises the big question: what suddenly caused such a sharp fall in the fortunes of both Ambani and Adani?

Mukesh Ambani’s Wealth Drops by $4.37 Billion

On Tuesday, Reliance Industries shares witnessed heavy selling pressure. During intraday trade, the stock fell by nearly 5%, wiping out around ₹1 lakh crore from the company’s market capitalisation. This sharp fall directly impacted the personal wealth of Mukesh Ambani, the company’s Chairman.

The weakness in Reliance shares continued on Wednesday as well.

According to the Bloomberg Billionaires Index, Mukesh Ambani’s net worth declined by $4.37 billion (around ₹39,000 crore) to $103 billion. He is now ranked 18th on the global rich list. So far in 2026, his wealth has fallen by $4.21 billion.

Why Did Mukesh Ambani’s Wealth Decline?

• Sharp fall in Reliance Industries shares

• Profit booking by large institutional investors

• Pressure on IT, energy, and telecom stocks

• Weakness in Indian markets due to global cues

Gautam Adani Slips to 21st Position

India’s second-richest person, Gautam Adani, also suffered a setback. On Tuesday, his net worth declined by $313 million to $85.4 billion. As a result, he slipped to 21st position, falling out of the world’s top-20 richest list.

American billionaire Thomas Peterffy moved ahead of him in the rankings.

Reasons Behind Gautam Adani’s Wealth Decline

• Weakness in some Adani Group stocks

• Volatility in global equity markets

• Investor caution and limited buying interest

Elon Musk Remains World’s Richest Despite Losses

Meanwhile, Elon Musk continues to top the list of the world’s richest individuals, even though his net worth declined by $13.4 billion on Tuesday to $630 billion. Larry Page holds the second position globally.

World’s Top 10 Richest People and Their Net Worth

1. Elon Musk – $630 billion

2. Larry Page – $270 billion

3. Jeff Bezos – $262 billion

4. Sergey Brin – $251 billion

5. Larry Ellison – $246 billion

6. Mark Zuckerberg – $233 billion

7. Bernard Arnault – $207 billion

8. Steve Ballmer – $167 billion

9. Jensen Huang – $155 billion

10. Warren Buffett – $150 billion

Market Volatility Reshapes Billionaire Rankings

The recent weakness in the stock market has reshuffled billionaire rankings worldwide, clearly showing how rapidly personal wealth can change with market movements.