Stock market bloodbath wipes $10 billion from Ambani, Adani, Jindal & Nadar

In a major market meltdown that sent shockwaves across the globe, India’s four richest individuals—Mukesh Ambani, Gautam Adani, Savitri Jindal & family, and Shiv Nadar—together lost over $10 billion on Monday. The sudden drop in their combined wealth came amid a massive global selloff triggered by rising trade tensions and looming recession fears in the United States.

According to Forbes’ real-time billionaire tracker, Mukesh Ambani, India’s richest person and chairman of Reliance Industries, bore the brunt of the crash. His wealth plunged by $3.6 billion, bringing his total net worth down to $87.7 billion.

Gautam Adani, chairman of the Adani Group, also witnessed a steep fall in his fortune, losing $3 billion in a single day. His net worth now stands at $57.3 billion. The billionaire, who has faced significant volatility over the past year, was among the worst hit during Monday’s carnage.

Savitri Jindal & family, the industrial powerhouse behind the OP Jindal Group, suffered a $2.2 billion loss, reducing their collective fortune to $33.9 billion. She remains the wealthiest woman in India and is currently ranked 45th globally.

Tech mogul Shiv Nadar, founder of HCL Technologies, also saw a sizable dip. His wealth fell by $1.5 billion, settling at $30.9 billion. The IT sector was one of the worst affected in the rout, contributing heavily to the loss in his net worth.

The Indian stock market witnessed a brutal day of trading. The Sensex crashed over 3,000 points, and the Nifty slipped below the crucial 22,000 level. All major sectors were deep in the red—Nifty Metal plummeted by 8%, Nifty IT dropped more than 7%, and sectors like Auto, Realty, and Oil & Gas each fell over 5%. Small-cap stocks were decimated, falling 10%, while mid-caps lost 7.3%.

Globally, the carnage was widespread. US President Donald Trump’s aggressive tariff hike, the largest in over a century, has already wiped nearly $8 trillion off Wall Street this year. Billionaires like Elon Musk, Jeff Bezos, and Mark Zuckerberg have each seen tens of billions erased from their fortunes. While most saw red, Warren Buffett stood out—adding $12.7 billion to his wealth, thanks to his value-based investment strategies.