Mumbai, December 16, 2024: Two prominent Indian billionaires, Mukesh Ambani and Gautam Adani, have recently fallen out of Bloomberg’s $100 Billion Club, marking a significant change in their financial standings. The shift in rankings comes amid fluctuating market conditions and challenges related to their business ventures. Both billionaires have seen a drop in their net worth, influenced by various factors affecting their companies and industries.
Gautam Adani, once the richest person in Asia, has experienced a substantial decline in his wealth. This downturn is attributed to a combination of factors, including increased scrutiny of his business practices and a turbulent performance in the stock market. His exit from the $100 billion club signals a notable shift in his previously soaring financial trajectory.
Similarly, Mukesh Ambani, the chairman of Reliance Industries, has also seen a dip in his wealth, despite his company remaining strong in its core sectors. Global economic trends and market pressures have played a role in impacting Ambani’s net worth, resulting in his removal from the exclusive $100 billion group. Nonetheless, both Adani and Ambani remain among the wealthiest individuals globally, though no longer part of this prestigious financial club.
