Mukesh Ambani loses over Rs 180000000000 in just 1 day, here's why

Mukesh Ambani, an Indian billionaire who was previously placed 11th on the global list of the richest people in the world, has seen his wealth steadily decline, falling to 17th place on the Bloomberg Billionaires Index. Ambani is currently the richest person in India, with a net worth of $101 billion, and he is about to leave the exclusive $100 billion club.

Disappointing earnings reports on October 15 caused Reliance Industries Limited chairman Mukesh Ambani's wealth to sharply decline. The company's stock price dropped more than 2% as a result of its performance during the July–September quarter, which was below expectations. Reliance Industries recorded a 4.77% decline in net profit during this time.

Ambani's net worth suffered a significant loss of about Rs 16,800 crore as a result of the decline in share value. His current wealth of $103 billion (about Rs 8.6 lakh crore) has caused him to drop to 15th place on the Bloomberg Billionaires Index as a result of this fall.

Whereas, the founder and chairman of the Adani Group, Gautam Adani, has seen an increase in his wealth. According to reports, he increased his wealth by more than Rs 2,235 crore, making his total net worth over $98.7 billion (almost Rs 8.2 lakh crore). He is now ranked 18th on the same list of billionaires as a result of his climb.

With a staggering net worth of $242 billion (about Rs 20 lakh crore), Elon Musk is currently the richest person in the world according to the Bloomberg Billionaires Index. He is followed by Mark Zuckerberg of Facebook ($204 billion) and Jeff Bezos of Amazon ($210 billion). The top 10 list also includes:

Larry Ellison: $185 billion (Rs 15.5 lakh crore)
Bernard Arnault: $175 billion (Rs 14.7 lakh crore)
Bill Gates: $161 billion (Rs 13.5 lakh crore)
Larry Page: $150 billion (Rs 12.6 lakh crore)
Warren Buffett: $147 billion (Rs 12.3 lakh crore)
Steve Ballmer: $145 billion (Rs 12 lakh crore)
Sergey Brin: $141 billion (Rs 11.8 lakh crore)