Bad news for Mukesh Ambani as Reliance boss loses Rs 12100 crore due to…, Gautam Adani loses 16300 crore in just….

The recent volatility in the stock market has also affected the wealth of India’s leading industrialists.

On Tuesday, major declines were seen in the shares of multiple companies under Mukesh Ambani led Reliance and Gautam Adani led Adani groups. This has directly impacted the net worth of Mukesh Ambani and Gautam Adani.

The BSE Sensex closed at 78,017 on Tuesday, though it went down as low as 77,745 during intra-day trading. Several companies under the Reliance and Adani groups faced major losses in their share values, leading to a reduction in their owners’ wealth.

Mukesh Ambani Lost Rs 12,100 Crore

According to the Bloomberg Billionaires Index, Mukesh Ambani’s net worth decreased by $1.42 billion (approximately Rs 12,100 crore) on Tuesday. This decline took his total net worth to $91.8 billion. Despite this, Ambani’s wealth has increased by $1.20 billion during this year so far. He is ranked the 17th richest person in the world.

Gautam Adani Lost Rs 16,300 Crore 

Gautam Adani also incurred a huge loss. His net worth fell by $1.91 billion (approximately Rs 16,300 crore), taking his total wealth down to $73 billion. This year, Adani’s wealth has gone down by $5.71 billion. He is currently ranked the 21st richest person in the world.

Elon Musk Lost $84.8 Billion

Elon Musk, the owner of Tesla, SpaceX, and the social media platform X, also saw a decline in his wealth this year. Musk’s net worth has decreased by $84.8 billion. But still Musk is the richest person in the world, with a net worth of $348 billion, according to the Bloomberg Billionaires Index.

The recent fluctuations in the stock market are due to several factors. Major companies like Reliance and Adani groups, reported low quarterly earnings, which reduced investor confidence and led to massive sell-offs in their stocks.

Apart from this FIIs are also withdrawing money from the Indian markets over global uncertainties. The combination of these factors has contributed to the decline in wealth for Mukesh Ambani, Gautam Adani, and even Elon Musk who are among world’s richest individuals.