Gautam Adani and his family have regained the position of India’s richest individuals, overtaking Mukesh Ambani and family in the M3M Hurun India Rich List 2026. The annual ranking, which tracks Indian individuals and families with a wealth of at least ₹1,000 crore, highlights changing trends in wealth creation, with artificial intelligence, infrastructure, defence and industrial sectors emerging as major contributors.
According to the report, the Adani family’s wealth stood at ₹9.23 lakh-crore (around $96 billion), marking a 13% increase compared with the previous year. Mukesh Ambani and family ranked second with a wealth of ₹8.63 lakh-crore, recording a 10% decline over the same period.
The difference between the two families’ wealth is around ₹59,400 crore.
The top position has changed hands several times between the two business families in recent years. Adani first moved ahead of Ambani in 2022, lost the lead in 2023, regained it in 2024, slipped again in 2025 and has now returned to the top spot.
Hurun data shows significant fluctuations in Adani’s wealth. His family fortune reached a peak of ₹11.62 lakh-crore in 2024, before falling to ₹8.15 lakh-crore and recovering in the latest edition.
The M3M Hurun India Rich List 2026 includes 1,810 Indians, an increase of 128 from last year and 803 more than five years ago. The combined wealth of those on the list reached ₹187.5 lakh-crore (around $1.96 trillion), rising 12.8% in one year.
Hurun said wealth creation outpaced stock market performance during the period, with the combined wealth of India’s richest people increasing even as the Nifty 50 declined 3.9% and the Sensex fell 5.8%.
India now has a record 391 dollar billionaires, with the list covering individuals from 106 cities.
LN Mittal and family moved into the third position, with wealth rising 93% to ₹3.39 lakh-crore. The family recorded the largest absolute increase in wealth on the list, adding around ₹1.64 lakh-crore. Hurun attributed the rise to improving steel prices and protection measures supporting Europe’s steel industry.
Cyrus Poonawalla and family, promoters of the Serum Institute of India, remained fourth with wealth of ₹3.03 lakh-crore, up 23%.
Roshni Nadar Malhotra and family ranked fifth with wealth of ₹2.79 lakh-crore, continuing as India’s richest woman.
Other major movements included:
• Anil Agarwal and family of Vedanta Resources entered the top 10 at ninth position, with wealth rising 87% to ₹2.08 lakh-crore.
• Samir Mehta and family of Torrent Pharmaceuticals moved into the top 10 after a 52% increase in wealth to ₹1.89 lakh-crore.
Artificial intelligence appeared as a separate sector category in the Hurun list for the first time. The sector recorded 19 entrants with a combined wealth of ₹3.07 lakh-crore, including 15 new names.
Nagendra Nagaraja of Bengaluru-based QpiAI became India’s first quantum computing entrepreneur to enter the list, with wealth estimated at ₹1,700 crore.
Hurun said the average wealth of new AI entrants was around ₹12,100 crore, nearly five times higher than new entrants from industrial products.
The report highlighted that Indian entrepreneurs are building businesses across the AI ecosystem, including data centres, semiconductor chips, AI models and applications.
The number of self-made entrepreneurs reached a record high, with 1,266 individuals, or 70% of the list, creating their wealth independently.
The youngest entrant was 23-year-old Kaivalya Vohra, co-founder of quick-commerce company Zepto. His co-founder Aadit Palicha, aged 24, was the second-youngest entrant.
Mumbai remained the leading hub for wealthy individuals, with 465 names, followed by New Delhi with 236 and Bengaluru with 129.
The list included 131 women, up from 100 last year. Roshni Nadar Malhotra retained her position as India’s richest woman.
The report showed a shift towards industrial and technology-driven wealth creation. While consumer-focused sectors witnessed declines, industrial segments recorded strong growth.
The latest Hurun list reflects a changing Indian wealth landscape, where infrastructure, technology, AI and industrial growth are increasingly shaping the country’s billionaire ecosystem.
