Gautam Adani and family have reclaimed the position of India’s richest, overtaking Mukesh Ambani and family after their wealth rose 13 per cent to Rs 9.23 lakh crore, even as the country’s billionaire population touched a record 391, according to the M3M Hurun India Rich List 2026.
Ambani and family slipped to second place after their wealth declined 10 per cent to Rs 8.63 lakh crore, leaving Adani ahead by Rs 59,400 crore. The latest reversal continues a closely fought contest at the top of India’s wealth rankings, with the two families swapping the number one position five times in the past five years.
Adani overtook Ambani in 2022, slipped behind in 2023, regained the lead in 2024 and lost it again in 2025 before returning to the top this year. His wealth has also witnessed sharper swings, reaching Rs 11.62 lakh crore in 2024 before falling to Rs 8.15 lakh crore and recovering to Rs 9.23 lakh crore in the latest ranking.
Mittal surges to third
Lakshmi Niwas Mittal and family emerged as one of the biggest movers among India’s wealthiest, jumping into third place after their fortune surged 93 per cent to Rs 3.39 lakh crore. Hurun attributed the increase to factors including higher European steel prices and trade protection.
Cyrus S Poonawalla and family retained fourth position as their wealth increased 23 per cent to Rs 3.03 lakh crore. HCL’s Roshni Nadar Malhotra and family slipped two positions to fifth with Rs 2.79 lakh crore, although she remained India’s wealthiest woman.
Kumar Mangalam Birla and family ranked sixth with Rs 2.69 lakh crore after a 15 per cent increase, followed by Sun Pharmaceutical’s Dilip Shanghvi at Rs 2.65 lakh crore, also up 15 per cent. Azim Premji and family retained eighth position as their wealth increased 19 per cent to Rs 2.63 lakh crore.
Anil Agarwal and family entered the top 10 at ninth after an 87 per cent surge took their fortune to Rs 2.08 lakh crore. Samir Mehta and family completed the top 10 with Rs 1.89 lakh crore, a 52 per cent increase following the completion of the JB Chemicals merger.
Over a longer period, the changes have been even sharper. Hurun said Agarwal and family and Mehta and family had multiplied their wealth 12 times and 7.6 times, respectively, from their levels in 2017.
India adds 27 billionaires
India’s rich list expanded to 1,810 individuals with wealth of at least Rs 1,000 crore, an increase of 128 over the previous year. Their combined wealth rose 12.8 per cent to Rs 187.5 lakh crore, or about $1.96 trillion. The number of dollar billionaires increased by 27 during the year to an all-time high of 391. Five years ago, India had 237 dollar billionaires.
Entrepreneurs increasingly dominated the rankings, with 1,266 self-made individuals accounting for 70 per cent of the list. Five years ago, their share stood at 55 per cent. Industrial products contributed the largest number of entrants at 166, followed by chemicals with 142 and pharmaceuticals with 136.
AI makes its debut
Technology also made a bigger mark on the rankings, with artificial intelligence appearing as a standalone sector for the first time. Nineteen AI-linked entrants together accounted for wealth of Rs 3.07 lakh crore. Bengaluru-based QpiAI founder Nagendra Nagaraja became the first entrant from the quantum-computing sector, with wealth estimated at Rs 1,700 crore. Aditya Kumar Halwasiya of Cupid emerged as the fastest wealth creator, with his fortune rising 859 per cent to Rs 18,800 crore. Zepto co-founder Kaivalya Vohra, 23, was the youngest person on the list, followed by fellow co-founder Aadit Palicha, 24.
Mumbai remains wealth hub
Mumbai retained its position as India’s biggest wealth centre, accounting for 465 people on the list. New Delhi followed with 236, while Bengaluru had 129. Women accounted for 131 entries, including 33 dollar billionaires, with Nadar Malhotra retaining the distinction of being the country’s wealthiest woman.
The Indian wealth footprint also extended beyond the country, with 156 members of the list living overseas. Of these, 90 were based in the United States and 31 in the United Arab Emirates. Hurun said the fortunes represented on the list increased at an average rate of Rs 5,833 crore a day during the period covered by its 2026 ranking.