Key Points:
- Massive Wealth Declines: Gautam Adani’s net worth has dropped by $11.9 billion in 2025, the second-largest decline globally after Elon Musk, whose wealth fell by $35.2 billion.
- Adani Group Stock Plunge: Shares of Adani Group companies, including Adani Enterprises and Adani Green Energy, have declined significantly, contributing to the erosion of Adani’s fortune.
- Other Indian Billionaires Affected: Mukesh Ambani’s wealth decreased by $2.9 billion to $87.7 billion, while Shiv Nadar and Savitri Jindal also saw declines of $4.53 billion and $3.9 billion, respectively.
- Global Market Volatility: The broader market selloff, coupled with allegations of fraud and bribery against Adani Group executives, has intensified investor concerns.
- Elon Musk Still on Top: Despite losing $35.2 billion, Elon Musk remains the world’s richest individual with a net worth of $397.3 billion.
New Delhi: The global stock market turbulence of 2025 has taken a significant toll on the world’s wealthiest individuals, with Indian billionaire Gautam Adani experiencing the second-largest decline in net worth this year. According to the Bloomberg Billionaires Index, Adani’s fortune has plummeted by $11.9 billion to $66.8 billion, placing him 23rd on the global rich list. This follows a steep drop in the shares of his conglomerate’s companies amid allegations of fraud and bribery.
Adani’s Wealth Decline: A Closer Look
The sharp decline in Gautam Adani’s wealth is largely attributed to falling stock prices across his group’s publicly listed companies:
- Adani Enterprises: The flagship company has seen its shares drop by nearly 15% this year.
- Adani Green Energy: Shares have plunged by 17.3%.
- Adani Ports & Special Economic Zone: A decline of 8.85% has been recorded.
- Adani Power: Shares have fallen by 8.6%.
The erosion of investor confidence stems from multiple factors, including allegations of a multibillion-dollar fraud scheme involving Adani Green Energy executives and claims of bribery to secure solar energy contracts worth $2 billion in profits between 2020 and 2024. U.S. prosecutors have indicted Gautam Adani, his nephew Sagar Adani, and other top executives on these charges.
Elon Musk Tops Wealth Losses
Tesla and SpaceX founder Elon Musk leads global wealth losses in 2025, with his fortune shrinking by $35.2 billion to $397.3 billion. Despite this setback, Musk remains the world’s richest individual due to the high valuations of his companies.
Musk’s wealth had surged in recent years under favorable economic policies during Donald Trump’s presidency but has faced headwinds amid broader market corrections.
Impact on Other Indian Billionaires
The market downturn has not spared other Indian tycoons:
- Mukesh Ambani: The chairman of Reliance Industries saw his wealth fall by $2.9 billion to $87.7 billion, dropping him from 12th to 17th place globally.
- Shiv Nadar: The HCL Tech founder’s fortune decreased by $4.53 billion to $38.6 billion.
- Savitri Jindal: India’s richest woman and chairperson emeritus of JSW Group experienced a loss of $3.9 billion, bringing her net worth down to $28.4 billion.
Broader Market Challenges
The declines in billionaire fortunes reflect broader challenges in global markets:
- The Indian rupee depreciated by 1.2%, while the Nifty 50 index corrected by 3.5% this year.
- Rising concerns over corporate governance, high valuations, and slowing economic growth have weighed heavily on investor sentiment.
For Adani Group specifically, fallout from the Hindenburg Research report in early 2023 alleging stock manipulation and accounting fraud—continues to haunt the conglomerate. The recent U.S.-led bribery allegations have further eroded trust among stakeholders.
What Lies Ahead?
While Gautam Adani’s legal team has dismissed the allegations as baseless and vowed to pursue all possible legal remedies, the group faces mounting scrutiny from international regulators like the U.S. Securities and Exchange Commission (SEC). Arrest warrants for key executives have also been issued.
For Indian markets overall, experts warn that sustained volatility could lead to further wealth erosion among high-net-worth individuals unless confidence is restored through stronger governance measures and economic recovery.
Conclusion
The significant losses faced by Gautam Adani and other Indian billionaires highlight the fragility of wealth in volatile markets driven by external shocks and internal challenges. As global economic uncertainty persists, these developments serve as a stark reminder of how quickly fortunes can change for even the world’s richest individuals.
