Mukesh Ambani and Gautam Adani are known as the top richest men in India. A recent news report revealed that their revenue dropped below $100 billion in a few months. Both businessmen are facing multiple challenges that affect their personal wealth and commercial interests.
The sudden drop in Ambani’s revenue is shocking for him. He owns Reliance Industries in India, and its business has expanded to the world’s biggest countries. Eventually, what happened wrong was that his revenue went down every day. Let’s uncover the details behind this drop. He lost 20% of his revenue in only five months. According to the data taken from Bloomberg, his current wealth is $96.7 billion.
In addition, Adani has been in a business crisis since November this year. The Adani group’s revenue was $121 billion in July. Later, the US Department of Justice, United States, alleged the Adani group in the investigation, while the Adani business group was accused of fraud and bribery allegations.
In an event after the allegations, Adani expressed and reaffirmed these allegations and said “Each challenge makes us stronger”. These allegations affected Adani’s revenue and caused him to lose trust in the international market, on the other side Adani is confident that save his business and face each challenge in the upcoming year. India’s economy has been rapidly increasing since log-time, after the Starlink service in India, digital and telecon businesses facing challenges.
The Jio platforms and oil-to-chemical business getting drop signals in the country, – the Reliance business is getting high-value this time in India, its products are valuable today for consumers but the oil-to-chemical business has gone down for a few months. The Reliance company is partnering with Nvidia corporation to launch artificial intelligence infrastructure in the country.
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According to recent information, the newly elected President of America Donald Trump’s government may bring business difficulties for both businessmen. V.K Unni, a professor at the Indian Institute of Management Calcutta has said that shortly, there are business challenges – Trump may impose tariffs that will affect India’s exports.
Mukesh Ambani Business – Net Worth
India’s richest person Mukesh Ambani frustrated due to decreased net worth in the past few months, Ambani has big and little ways of net worth. His popular companies like Jio, Reliance Industries, Oil & Gas, Retail, Digital Services, entertainment and more.
The Reliance company was founded by Ambani’s later father Dhirubhai Ambani in 1966 as a “Small Textile Manufacture Company”. Later in 2002, his father died and Mukesh Ambani chairs the company. He got a degree in Chemical Engineering from the Institute of Chemical Technology, Mumbai and also pursued further education in MBA at Stanford University, United States of America.
At the age of 24, Mukesh Ambani took charge of the construction Patalganga petrochemical plant – at that time company was spending more investment in the oil refinery at Jamnagar, India. At that time, the plant produced 660,000 barrels per day estimated at 33 million per year in 2010. Later an FIR was filed against him on oil and natural gas pricing allegations.
Regarding increasing net worth on Ambani, his annual net worth was $21 Billion in 2015 and later in 2017 significant growth was seen up to $23.2 Billion. Gradually, his wealth increased, in 2020 he reached $50 billion from $21 billion. Unfortunately in 2020, his wealth went down to $36 Billion – It was increased double in 2021 and reached $84.5 Billion.
The wealth reached $90.7 Billion in 2022, while in 2023 it went down to $83 and in 2024 highly increased to $116 Billion. Since July 2024, the significant drop seen till yet, the current wealth is &96.7 Billion according to 13 December data. Reports disclose its wealth cause of his son’s wedding ceremony. At the ceremony, celebrities like cricket stars, Bollywood Actors & actors and also internationally big celebrities joined.
Gautam Adani – Wealth
Gautam Adani is among the billionaire businessmen in India, he is the founder of Adani Group. With a $60 Billion net worth, he is the 25th richest man in the World and while 2nd billionaire in Asia. Gautam was born on 24 June 1962 in the Jain Family of Gujrat, he got early education in his hometown and then later enrolled in Gujrat University for a Commerce degree but unfortunately, he dropped out after 2nd year.
The latest Forbes list of the world’s richest men was unveiled – the report disclosed that India’s richest men have dropped out from the $100 Billion race in 2024. The cause of Adani’s wealth down is disclosed – the allegations on his business are the cause of the drop in revenue. The fact comes out behind the drop in revenue, Adani’s nephew offers $ 209 million bribery to Indian government officials to keep secure the “lucrative solar energy supply contracts”.
The allegations affected the different groups of stocks like Adani Ports, Adani Green Energy and Adani Energy Solution are among of them. The year proved bad for them but they have made significant improvements in this year. The drop in wealth happened due to market conditions.
Recent Blomberg Billionaire Index
In the recent Blomberg Billionaire Index list unveiled as of December 2024, no one of India’s richest men was counted in the list.
| Name | Wealth |
|---|---|
| Elon Muck | $474 Billion |
| Jeff Bezos | $251 Billion |
| Mark Zuckerberg | $221 Billion |
| Larry Ellison | $194 Billion |
| Bernard Arnault | $178 Billion |
| Larry Page | $175 Billion |
| Bill Gates | $165 Billion |
| Sergey Brin | $164 Billion |
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