Mukesh Ambani, Gautam Adani among top 7 Indian Billionaires hit by $34 billion wealth erosion

The ongoing stock market downturn in 2025 has severely impacted India’s wealthiest individuals, with the top seven billionaires losing a combined $34 billion so far this year. Market volatility and falling stock prices have led to sharp declines in their net worth, as reflected in the Bloomberg Billionaire Index.

Among the hardest hit is Gautam Adani, whose fortune has shrunk by $10.1 billion, bringing his total net worth down to $68.8 billion. Adani Enterprises, his flagship company, has dropped 12% in value this year. Other key Adani Group stocks have also faced losses—Adani Green Energy fell by 22%, Adani Total Gas declined by 21.26%, and Adani Energy Solutions and Adani Ports slipped by 6% and 3%, respectively.

Mukesh Ambani, India’s richest person, also faced a decline, losing $3.13 billion in 2025. However, he continues to hold his top spot with a net worth of $87.5 billion. While Reliance Industries has managed a slight gain of 2.54% this year, Jio Financial Services, a key segment of his empire, has dropped by 28.7%.

HCL Technologies founder Shiv Nadar has suffered a $7.13 billion decline in his fortune, leaving him with a net worth of $36 billion. Similarly, Wipro's Azim Premji has seen his wealth erode by $2.70 billion, reducing his total net worth to $28.2 billion.

Shapoor Mistry, the billionaire behind the construction conglomerate Shapoorji Pallonji Group, has lost $4.52 billion, bringing his wealth down to $34.1 billion. Meanwhile, industrialist Savitri Jindal, the chairperson emeritus of OP Jindal Group, has faced a loss of $2.22 billion, bringing her total wealth to $30.1 billion. Dilip Shanghvi, the founder of Sun Pharmaceutical Industries, has also been hit by the market turbulence, losing $4.21 billion and now holding a net worth of $25.3 billion.

The stock market decline has not just affected Indian billionaires but has also taken a toll on global tycoons. Elon Musk, the world’s richest person, has seen his fortune drop by $126 billion this year due to a massive 39% slump in Tesla’s stock. Other billionaires, such as Amazon’s Jeff Bezos and Meta’s Mark Zuckerberg, have also experienced losses of $21.2 billion and $6.61 billion, respectively. With market conditions remaining uncertain, investors and business leaders worldwide are bracing for further volatility in the months ahead.