Adani tops Forbes India rich list again with $112.7 billion; Ambani slips to second place

Gautam Adani has once again become the country's richest person in the Forbes India rich list 2026. His wealth has risen by Rs 1.98 lakh crore in the past year and now stands at $112.7 billion, or Rs 10.81 lakh crore.

Mukesh Ambani, chairman and managing director of Reliance Industries Limited (RIL), has slipped to second place. His wealth has declined by $18.7 billion, or Rs 1.56 lakh crore, to $86.3 billion.

Although the Adani family remains below its 2022 wealth of $150 billion, it has still overtaken everyone else to reach the top spot. The Adani Group is expanding its business rapidly. The group has drawn up a large plan to invest $100 billion in AI and the infrastructure it requires. This lifted its shares and its wealth.

The year was somewhat poor for Reliance, and three main reasons have been cited. The first is the retail business. Reliance Retail's profit fell, which squeezed margins and hit the company.

The second is crude oil. Oil prices fluctuated abroad, and because Reliance also has oil and chemicals businesses, it suffered losses.

The third is debt. In 2025-26, Reliance's debt stood at Rs 3,74,421 crore. This alarmed investors and the share price fell, which affected the company. There is also some good news. Jio Platforms is soon to bring its IPO. If approved, the $3.8 billion IPO could be the largest in the country.

The Forbes top 10 list is as follows: Gautam Adani $112.7 billion, Mukesh Ambani $86.3 billion, Savitri Jindal $39.8 billion, Lakshmi Mittal $34.7 billion, Sunil Mittal and family $32.9 billion, Cyrus Poonawalla $28.4 billion, Shiv Nadar $27.4 billion, Dilip Shanghvi $26.3 billion, Kumar Mangalam Birla $23.2 billion and the Hinduja family $21.2 billion.

The wealth of more than 50 of the 100 richest has fallen this year. IT companies were hit hardest. With the arrival of AI and automation worldwide, work for Indian IT companies has shrunk. This is also why the wealth of Shiv Nadar, Azim Premji and Narayana Murthy has declined.

This year, $3 billion was needed to make the list, compared with $3.2 billion last year, so entry has become slightly easier. Some new faces have also entered the list for the first time.