Asia’s richest billionaires, including Gautam Adani, Mukesh Ambani, others cumulatively lost nearly $46 billion on India's ‘Black Monday' on April 7, as markets across the region continued to fall in the wake of President Donald Trump’s tariff announcements.
Tencent Holdings Ltd. co-founder Pony Ma lost $6.8 billion, or 12% of his total wealth. In India, infrastructure tycoon Gautam Adani slid by $4.2 billion. Robin Zeng, the Hong Kong battery billionaire, dropped $4.1 billion, reported Bloomberg.
Collectively, the world's 20 richest individuals saw a cumulative $45.9 billion wiped out from their fortunes, according to the Bloomberg Billionaires Index.
India's richest person, Mukesh Ambani, experienced the largest loss, with his wealth shrinking by $3.6 billion to $87.7 billion. Gautam Adani, the second-richest Indian, saw his net worth drop by $3 billion, totalling $57.3 billion.
Taken together, the five Indian billionaires lost a total of $9.89 billion, according to Forbes Real Time Billionaires list.
1. Mukesh Ambani
Mukesh Ambani, the chairperson of Reliance Group and India's richest person, was the biggest loser in the Black Monday stock market crash, with his net worth dropping by $2.9 billion (around Rs 25,000 crore) to $88.4 billion.
2. Gautam Adani
Gautam Adani, the chairperson of the Adani Group and India's second-richest person, experienced a $2.8 billion drop in his net worth on Monday. By the end of the trading day, his net worth was $57.6 billion.
3. Savitri Jindal
Savitri Jindal and family, ranked 45th globally, were the third-largest losers in India, on Monday's stock market crash. The chairperson of the Jindal Group, a major player in steel, power, cement, and infrastructure, saw her net worth decline by $2.3 billion to $33.8 billion.
4. Kushal Pal Singh
Real estate tycoon Kushal Pal Singh, founder of DLF, saw his net worth drop by $988 million due to Monday's stock market crash, leaving him with $13.5 billion.
5. Shiv Nadar
Shiv Nadar, co-founder of HCL Tech, was the fifth biggest loser on Monday, with his wealth falling by $902 million amid the market turmoil. His net worth now stands at $31.5 billion, making him the fourth richest person in India.
(By arrangement with livemint.com)
