On Monday, the stock market experienced intense fluctuations, partly influenced by the ongoing American elections and broader economic uncertainties, which adversely affected Reliance Industries and Adani Group stocks. Reliance’s stock dropped close to 3%, resulting in a net worth decline of $2.72 billion for Mukesh Ambani, whose total wealth now stands at $98.8 billion. Despite the current dip, Ambani’s net worth has still grown by $2.42 billion this year, highlighting overall upward momentum despite recent challenges.

Similarly, Gautam Adani’s wealth declined by $2.06 billion, reducing his net worth to $92.3 billion. Even with this recent setback, Adani has accumulated a substantial increase of $8.05 billion in 2023, underscoring his continued business growth.

The broader market saw a notable drop as the BSE Sensex fell by 1,491.52 points, closing at 78,232.60 on Monday, reflecting the heavy impact of international and domestic factors on Indian stocks. This market downturn has created ripple effects across sectors, affecting global billionaires as well. Among others, Tesla and SpaceX CEO Elon Musk experienced a loss of $4.39 billion, bringing his net worth down to $258 billion, although he continues to lead the world’s wealthiest list. Jeff Bezos, Amazon’s founder, holds second place with a net worth of $218 billion, followed by Meta’s Mark Zuckerberg in third, who recently left the $200 billion club with a net worth of $199 billion.

Top 10 Richest People and Their Net Worth:

1. Elon Musk – $258 billion
2. Jeff Bezos – $218 billion
3. Mark Zuckerberg – $199 billion
4. Larry Ellison – $181 billion
5. Bernard Arnault – $176 billion
6. Bill Gates – $157 billion
7. Larry Page – $152 billion
8. Sergey Brin – $144 billion
9. Steve Bernal – $142 billion
10. Warren Buffett – $140 billion

As stock markets continue to fluctuate, wealth shifts among the world’s richest are becoming more dynamic. For Indian billionaires like Ambani and Adani, this volatility underscores the challenges of sustaining massive wealth in an interconnected global economy, where market shifts reverberate through every sector.

The post Mukesh Ambani and Gautam Adani Exit $100 Billion Club Amid Market Turmoil, Slip in Global Wealth Rankings appeared first on Vizag One.