The Forbes India Rich List 2025 has been released, revealing the names of India's wealthiest individuals and families. While Mukesh Ambani of Reliance Industries retains the top spot with a net worth of $105 billion, a notable $14.5 billion decrease from the previous year, the list also features new entrants making their mark in India's business landscape.
This year, the combined wealth of India's 100 richest individuals has decreased by 9%, amounting to a $100 billion drop to $1 trillion. This decline is attributed to a weaker rupee and a 3% fall in the benchmark Sensex. Despite this overall decrease, some individuals have seen their fortunes rise, while others have experienced a dip in their net worth.
New Billionaires on the Block
The Forbes India Rich List 2025 welcomes three new billionaires:
- The Doshi Siblings: Making their debut at No. 37 are the Doshi siblings, with a combined fortune of $7.5 billion. Their company, Waaree Energies, is the largest solar panel manufacturer in India. The company went public late last year, with shares trading at a 70% premium.
- Alpana Dangi: Alpana Dangi, who holds a majority stake in the listed financial firm Authum Investment and Infrastructure, joins the list this year.
- Sunil Vachani: The founder and chairman of Dixon Technologies, Sunil Vachani, enters the list with a net worth of $3.85 billion. Dixon Technologies manufactures a variety of electronic products, including televisions and smartphones, for companies like Samsung and Xiaomi.
Key Highlights from the List
- Mukesh Ambani: Despite a $14.5 billion decrease in wealth, the chairman and managing director of Reliance Industries remains India's richest person with a net worth of $105 billion. Ambani is venturing into artificial intelligence (AI) with the establishment of Reliance Intelligence and plans to list the telecom unit Jio in 2026.
- Gautam Adani & Family: Infrastructure tycoon Gautam Adani and family hold the second position with a fortune of $92 billion. Adani received some relief in September when the securities regulator stated that allegations of fraudulent transactions made by U.S. short seller Hindenburg Research could not be proven.
- Savitri Jindal: Retaining the third spot is Savitri Jindal of the OP Jindal Group, with a net worth of $40.2 billion, a decrease of $3.5 billion.
- Sunil Mittal & Family: Telecom magnate Sunil Mittal was the biggest gainer in dollar terms, with his net worth increasing by $3.5 billion to $34.2 billion. He climbed three places to No. 4, a position he last held in 2008.
- Shiv Nadar: Tech billionaire Shiv Nadar, known for his philanthropy, slipped to fifth place with a fortune of $33.2 billion.
- Returnees: Leena Tewari of USV, PNC Menon of Sobha, and KP Ramasamy of KPR Mill have rejoined the ranks of India's wealthiest.
The Forbes India Rich List continues to be a benchmark for measuring wealth and success in India. While the year has seen a decline in the combined wealth of the top 100, the emergence of new billionaires and the resilience of established business leaders demonstrate the dynamism of the Indian economy.
