Indian businessman Mukesh Ambani has reclaimed his title as the richest person in India.

The Chairman and Managing Director of Reliance Industries saw his wealth rise by $4 billion to $92 billion this year, according to the latest Forbes list of India’s 100 Richest.

He surpassed Gautam Adani, who landed the top spot for the first-time last year. 

The head of Adani Group saw a whopping $82 billion decline in fortunes following a negative report by US-short seller Hindenburg Research that impacted the stock prices of his businesses.

Climbing two places to return to the third position on Forbes list is software tycoon Shiv Nadar, with a net worth of $29.3 billion, followed by Savitri Jindal ($24 billion) in the fourth spot and Radhakishan Damani ($23 billion) in the fifth place.

Also emerging as big gainers this year are Inder Jaisinghani, whose fortunes nearly doubled to $6.4 billion and Pharma brothers Ramesh and Rajeev Juneja, which posted a 64% boost from the listing of their Mankind Pharma last May.

Overall, the combined wealth of India’s 100 richest people barely moved at $799 billion this year, compared to the previous year.

“The needle has not moved much this year regarding the collective wealth of India’s 100 wealthiest people. At $799 billion, it is a touch lower than $800 billion in 2022,” Forbes said.

This year also saw seven Indians returning to the top 100 list, including healthcare entrepreneur Ranjan Pai, who cashed out $1 billion from the sale of his stake in Manipal Health Enterprises to Singapore’s Temasek.

Ten richest people in India in 2023

Mukesh Ambani - $92 billion

Gautam Adani - $68 billion

Shiv Nadar - $29.3 billion

Savitri Jindal - $24 billion

Radhakishan Damani - $23 billion

Cyrus Poonawalla- $20.7 billion

Hinduja family - $20 billion

Dilip Shanghvi - $19 billion

Kumar Birla - $17.5 billion

Shapoor Mistry & family - $16.9 billion

(Reporting by Cleofe Maceda; editing by Seban Scaria)