Bad news for Mukesh Ambani, Gautam Adani, out of this biggest list of world’s richest persons, due to…

Mukesh Ambani and Gautam Adani, India's richest and second-richest men, have dropped out of Bloomberg's coveted USD 100 billion club amid rising business challenges. Ambani runs India's most valuable company, Reliance Industries, whose market cap is Rs 17.15 lakh crore as of December 16. Whereas, Adani runs Adani Group, whose flagship firm Adani Enterprises has a market cap of Rs 2.90 lakh crore.

According to the Bloomberg Billionaires Index, Mukesh Ambani has a net worth of USD 96.7 billion and ranks 17th, as of December 16. While the net worth of Gautam Adani stands at USD 82.1 billion. He is at 19th spot in the index. The drop in their net worth comes amid various challenges affecting their commercial interests and personal wealth. Adani's wealth reached its highest point at USD 122.3 billion in June this year. However, after reports of US claims of his involvement in bribing Indian government officials, there is a major decline in his wealth.

Moreover, Ambani is still Asia's wealthiest individual. However, he too experienced a significant reduction in his fortune. His wealth peaked at approximately USD 120.8 billion in July, coinciding with his son Anant Ambani’s lavish wedding celebrations. His Reliance Jio and other telecom operators hike tariff prices from July 2024.