Shock to the Rich: Adani’s Wealth Decreased the Most in the World After Musk; Know Who Suffered How Much Loss
Global Market Turbulence Erodes Billionaire Fortunes
In the wake of significant global stock market fluctuations, several of the world’s wealthiest individuals have experienced substantial declines in their net worths. Notably, Gautam Adani, Chairman of the Adani Group, has seen his fortune diminish considerably, second only to Elon Musk, the founder of Tesla.
Elon Musk’s Net Worth Falls Below $400 Billion
Elon Musk, once on the trajectory to surpass the $500 billion net worth milestone, has faced a sharp downturn in his financial standing. As of February 21, 2025, Musk’s net worth has contracted by $35.2 billion, settling at $397.3 billion. This decline is primarily attributed to a 6.3% drop in Tesla’s share price, influenced by recent market dynamics and political developments. Despite this setback, Musk maintains his position as the world’s richest individual.
Gautam Adani’s Wealth Plummets Amidst Market Controversies
Gautam Adani, once ranked among the top five richest individuals globally, has witnessed a significant erosion of his wealth. According to the Bloomberg Billionaires Index, Adani’s net worth has decreased by $11.9 billion, bringing his total to $66.8 billion. This downturn has relegated him to the 23rd position on the global rich list.
The substantial decline in Adani’s fortune is largely due to a sharp drop in the share prices of Adani Group companies. Following allegations of a $250 million bribery scheme involving Adani Green Energy, the conglomerate’s market capitalization suffered a massive hit. Adani Enterprises’ stock plummeted by 23%, while other subsidiaries, including Adani Ports and Adani Green Energy, also experienced significant losses. These allegations have not only affected investor confidence but have also drawn increased scrutiny from regulatory bodies.
Impact on Other Indian Billionaires
The market volatility has not spared other prominent Indian billionaires:
Mukesh Ambani: The Chairman of Reliance Industries has seen his wealth decrease by $2.9 billion, bringing his net worth to $87.7 billion.
Shiv Nadar: Founder of HCL Technologies, Nadar’s fortune has diminished by $4.53 billion, reducing his net worth to $38.6 billion.
Savitri Jindal: The matriarch of the JSW Group has experienced a loss of $3.9 billion, with her current net worth standing at $28.4 billion.
Shapoor Mistry: His wealth has contracted by $2.73 billion, now totaling $35.9 billion.
Dilip Shanghvi: The founder of Sun Pharmaceuticals has seen a reduction of $3.81 billion in his wealth, bringing his net worth to $25.7 billion.
Adani Group’s Stock Performance
The Adani Group’s stock performance has been notably impacted:
Adani Enterprises: The flagship company has suffered a 14.7% decline in its share price this year.
Adani Ports and Special Economic Zone: Shares have decreased by 8.85%.
Adani Power and Adani Green Energy: Both companies have experienced a 17.3% drop in their share values.
These downturns are primarily attributed to the aforementioned bribery allegations and the subsequent loss of investor confidence.
Global Tech Billionaires Also Affected
The financial turbulence is not confined to Indian markets. Global tech magnates have also faced significant losses:
Jensen Huang: The CEO of Nvidia witnessed a reduction of $20.7 billion in his net worth following a record loss in the company’s market value.
Larry Ellison: Oracle’s founder experienced a loss of $27.6 billion.
Michael Dell, Larry Page, and Sergey Brin: These tech leaders collectively saw their fortunes diminish, contributing to a total loss of $94 billion in the tech sector.
These losses were exacerbated by a market selloff triggered by DeepSeek, a Chinese company’s challenge to U.S. dominance in artificial intelligence.
Political Developments and Market Reactions
Political events have also played a role in the financial landscape. The re-election of Donald Trump as President of the United States has introduced new tariffs and policy changes, impacting global trade dynamics. Elon Musk’s net worth, in particular, has been affected by these developments, as Tesla’s stock reacted to the evolving political climate.
