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The fortunes of India’s wealthiest individuals took a significant hit after U.S. President Donald Trump’s latest tariff measures sent global markets into turmoil, wiping out billions of dollars in wealth. According to Forbes’ real-time billionaire list, the combined net worth of India’s top four billionaires—Mukesh Ambani, Gautam Adani, Savitri Jindal & family, and Shiv Nadar—dropped by more than $10 billion in a single day.
Who Lost How Much?
Mukesh Ambani: Biggest Loser of the Day
Mukesh Ambani, chairman of Reliance Industries and India’s richest person, saw his wealth plummet by $4.2 billion. His net worth now stands at $87.2 billion after Reliance Industries’ shares tumbled over 4% on Monday.
Gautam Adani: Wealth Down by $3.7 Billion
Gautam Adani, ranked as India’s second-richest individual and 26th globally on the Forbes list, suffered a $3.7 billion decline in his fortune. His net worth now stands at $56.6 billion.
Savitri Jindal & Family: Slipping Down the Global Ranking
Savitri Jindal & family, who rank 45th on the global billionaire list, experienced a $2.7 billion loss. Their total net worth now stands at $33.4 billion.
Shiv Nadar: IT Mogul’s Wealth Declines by $1.6 Billion
Indian IT pioneer Shiv Nadar, the co-founder of HCL, saw his wealth shrink by $1.6 billion. His fortune now totals $30.7 billion.
Other Billionaires Affected
Several other prominent Indian billionaires also faced steep declines in their net worth. This includes Kumar Mangalam Birla, Uday Kotak, Kushal Pal Singh, Sunil Mittal, Mangal Prabhat Lodha, and Rajiv Bajaj, among others.
The sharp drop in wealth was driven by a market-wide selloff in India, mirroring global financial anxiety. Trump’s tariff hikes and China’s retaliatory measures stoked fears of an escalating trade war, raising concerns about its potential impact on global economic growth.
Sensex and Nifty Tank Over 5%
Indian benchmark indices suffered significant losses, with the 30-share BSE Sensex plummeting 3,939.68 points (5.22%) in early trade, settling at 71,425.01. The NSE Nifty also tumbled 1,160.8 points (5.06%), reaching 21,743.65.
By the afternoon session, the Sensex was down 3,205.31 points (4.25%), trading at 72,159.38, while the Nifty fell 1,038.95 points (4.54%) to 21,865.50.
All 30 Sensex stocks were in the red. Tata Steel saw the steepest decline, dropping over 9%, followed closely by Tata Motors, which plunged more than 8%. Other major losers included Larsen & Toubro, HCL Technologies, Kotak Mahindra Bank, Infosys, ICICI Bank, Axis Bank, Reliance Industries, and Adani Ports.
Investor Sentiment Shaken
Market analysts attribute the panic selling to heightened fears of economic slowdown due to a potential full-blown trade war. Investors worldwide are closely watching how the standoff between the U.S. and China unfolds, with ripple effects felt across global markets, including India.
Also Read: Market Bloodbath Explained: Here’s What Experts Are Saying As Trump’s Tariffs Shake Markets
