Markets Fall Dramatically After Trump Tariff Declaration
Domestic stock markets fell sharply on Monday. The decline came after former U.S. President Donald Trump announced tariffs. Investors experienced a quick depletion of wealth, with valuations decreasing in seconds. The fall heavily impacted top Indian billionaires. The combined net worth of the top four billionaires fell by more than $10 billion—around ₹85,000 crore—according to the Forbes Real-Time Billionaire List.
Mukesh Ambani Experiences Huge Wealth Loss
Reliance Industries, led by Mukesh Ambani, experienced a sharp fall in share prices. The company's stock within the Nifty index dropped by 3.5 percent. During intraday trading, it fell as much as 7.4 percent, touching a 52-week low. Ambani’s personal net worth fell by $3.6 billion (around ₹30,000 crore), reducing his total wealth to $87.7 billion.
Gautam Adani’s Net Worth Shrinks After Stock Fall
Adani Enterprises, which belongs to the Adani Group, declined by 5 percent. This caused a $3 billion decline (around ₹25,000 crore) in the net value of Gautam Adani, chairman of the group. According to Forbes, his net assets at present are worth $57.3 billion.
Savitri Jindal Suffers Disappointment Amid Steel Industry Plunge
Savitri Jindal, OP Jindal Group chairperson, lost $2.2 billion (approximately ₹18,000 crore) to reduce her net worth to $33.9 billion. Jindal Steel and Power Limited shares fell close to 7 percent on the same day.
Shiv Nadar's Tech Holdings Loss in Value
Technology stocks also took a hit during the downturn in the market. HCL Technologies, which was started by Shiv Nadar, lost more than 3.3 percent. His net wealth fell by $1.5 billion (about ₹12,000 crore) to $30.9 billion, according to Forbes.
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