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Published: December 31, 2024
Updated: December 31, 2024
Indian companies are starting the new year on a sombre note. While Mukesh Ambani, India’s richest man, lost $ 5.7 billion of his wealth, second richest Gautam Adani’s net worth declined by $ 4.2 billion.
Both are still the richest and second richest men in the country — Ambani’s total wealth was pegged at $ 90 billion while Adani’s total wealth was at $ 80.1 billion as at December- end, as per Bloomberg estimates.
Stock broker Radhakishan Damani lost the maximum of 16 per cent, or $ 3.1 billion, during the year, with his total net worth at $ 16.5 billion.
The decline in the net worth of Indian billionaires is mainly due to the fall in the stock market in the last two months as the economy slowed down, as did consumer spending.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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