According to a Bloomberg report, Reliance Industries Chairman Mukesh Ambani and Adani Group Chairman Gautam Adani have dropped out of Bloomberg’s $100 billion club for this year.

Why did this big decline come?

Since the beginning of 2024, India’s top-20 billionaires have seen an increase of $67.3 billion. In this, IT tycoon Shiv Nadar has seen the biggest gain of $10.8 billion and Savitri Jindal has seen $10.1 billion. The reason for the decline in Mukesh Ambani’s personal wealth is the weak performance of his company’s retail and energy divisions. When his son Anant got married in July 2024, his wealth was $120.8 billion i.e. more than 10 lakh crores, which has now come down to $96.7 billion i.e. 8 lakh 21 thousand crores as of 13 December 2024. This decline has caused concern among investors about the company’s increasing debt and business crises.