Bisnis.comJAKARTA — Mukesh Ambani fills the position of the richest man Number one in India with total assets of IDR 1,269 trillion.

Forbes published on Friday (11/08/2023) the number of billionaires in India reached 169 people this year, an increase of three people over the previous year.

However, the total wealth of the richest people in India dropped to US$75 billion or around IDR 1,141 trillion in 2023 compared to 2022.

The decline in the billionaires’ total net worth was attributed to a decline in the Adani Group’s shares after a report by Hindenburg Research on allegations of fraud by the Indian conglomerate was released in January.

In addition, Mukesh Ambani maintained his position as the richest person in India and Asia while also being ranked ninth List of the richest people in this world.

The following is a list of the 10 richest people in India in 2023 according to Forbes:

1. Mukesh Ambani – IDR 1,269.3 trillion

Although he still secures his position as the richest man in India and Asia, he is wealthy Mukesh Ambani down 8 percent over the past year.

However, the annual sales of Reliance Industries, its multinational company, are said to have exceeded IDR 1,552 trillion for the first time in the fiscal year ended March 2022.

The 65-year-old man gives each of his three children key roles in different companies: Akash in telecom, Isha in retail and Anant in green energy.

2. Gautam Adani – IDR 718.3 trillion

The fall in shares reduced Gautam Adani’s net worth, which reached IDR 1,369 trillion last year earlier. The significant drop was caused by a series of legal issues affecting the Adani group that continue to this day.

The infrastructure and commodities tycoon briefly became the world’s second-richest person last September and was the world’s third-richest person for most of January.

3. Shiv Nadar – IDR 389.5 trillion

Software magnate Shiv Nadar also experienced the decline in wealth, which is known to have fallen 11 percent from a year earlier.

Nadar is one of the founders of HCL Technologies, India’s largest IT startup with revenues of IDR 179.5 trillion. In July 2020, Nadar stepped down as the company’s chairman, handing over the position to his daughter Roshni Nadar Malhotra. Today he is Chairman Emeritus and Strategic Advisor.

4. Cyrus Poonawalla – IDR 343.8 trillion

Cyrus Poonawalla, the son of a horse breeder, founded the India Serum Institute in 1966 and grew it into the world’s largest dose-based vaccine manufacturer.

The institute produces more than 1.5 billion doses of serum each year from a variety of vaccines, including those for measles, polio, and influenza.

Serum has a number of Covid-19 vaccine partnerships and manufactures Covishield, a vaccine being developed by AstraZeneca and the University of Oxford.

5. Lakshmi Mittal – IDR 269.2 trillion

Mittal is Chairman of ArcelorMittal, the world’s largest producing steel and mining company. He came from a steel clan and separated from his brothers to found Mittal Steel. In 2006 he then merged the company with the French company Arcelor.

ArcelorMittal reported net profit of IDR 141.5 billion in 2022, down 38 percent year-on-year due to lower steel shipments and disruptions from the conflict in Ukraine.

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