In the latest ‘360 One Wealth Hurun India Rich List 2023,’ Mukesh Ambani, Chairman of Reliance Industries, has emerged as the richest Indian, surpassing Gautam Adani, Chairman of the Adani Group. Ambani, with a wealth of Rs 8.08 lakh crore, claims the top spot on the list.

Gautam Adani has slipped to the second position, with his wealth now at Rs 4.74 lakh crore. Adani’s net worth has taken a hit due to the Hindenburg Research report. The ‘360 One Wealth Hurun India Rich List 2023’ marks the 12th annual ranking of India’s wealthiest individuals.

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Cyrus S Poonawalla, the founder of the Serum Institute of India, maintains his third position on the list with a wealth of Rs 2.78 lakh crore. Shiv Nadar of HCL ranks fourth with a wealth of Rs 2.28 lakh crore, and Gopichand Hinduja is fifth with a wealth of Rs 1.76 lakh crore.

Dilip Sanghvi, the founder and leader of Sun Pharmaceutical Industries, holds the sixth position with a wealth of Rs 1.64 lakh crore. Other prominent names in the top 10 include LN Mittal, Radhakishan Damani, Kumar Mangalam Birla, and Neeraj Bajaj.

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The list includes a total of 259 billionaires, an increase of 38 from the previous year. The youngest billionaire on the list is Kaivalya Vohra (20), the founder of Zepto. This year’s list saw the cumulative wealth of the featured rich individuals reach Rs 109 lakh crore for the first time, surpassing the combined GDP of Singapore, the UAE, and Saudi Arabia.

While the cumulative wealth of the rich increased by 8.5%, the average wealth decreased by 9.3%. The report notes that 1,054 individuals saw an increase or no change in their wealth compared to the previous year, with 278 new entrants. However, 264 individuals experienced a decline in their wealth, and 55 individuals dropped off the list.