Mumbai, 3 April 2025: This year has proved to be a disappointment for two of India’s biggest business tycoons—Mukesh Ambani and Gautam Adani. Forbes released the much-awaited billionaire list of 2025, and in it, Reliance Industries owner Mukesh Ambani has dropped out of the list of top 10 richest people in the world. Ambani, who was ranked 10th last year, has now slipped to 18th position, while Adani had already been out of this prestigious club and is now at 28th position.

Ambani also suffered a setback in the Hurun Global Rich List recently, and now the latest report of Forbes has confirmed it. According to the report, Ambani’s wealth has declined by a massive $23.5 billion in the last one year. His net worth has dropped to $92.5 billion from $116 billion in 2024. Meanwhile, Adani’s wealth is estimated at $56.3 billion, which also puts him behind India’s richest person.

Musk at the top, Zuckerberg jumps

Forbes’ 2025 list saw a tremendous reversal at the top. Tesla and SpaceX owner Elon Musk has become the world’s richest person with a net worth of $342 billion. Bernard Arnault, who was at number one last year, has now slipped to fifth place. The second major change came in the form of Meta CEO Mark Zuckerberg, who overtook Amazon’s Jeff Bezos to take second place. Bezos is now at the third position. “This has been the year of the tech giants,” Forbes reported, citing the surge in shares of Musk and Zuckerberg’s companies as the reason for their success.

India’s performance: Third, but challenges remain
This year, a total of 3,028 billionaires made it to the Forbes list, 247 more than last year. Their combined wealth has reached $16.1 trillion, showing an increase of $2 trillion since 2024. In terms of countries, the US ranks first with 902 billionaires, while China, including Hong Kong, ranks second with 516 billionaires. India remains at third place with 205 billionaires, but the slide of giants like Ambani and Adani remains a matter of concern.

The fall in Ambani’s wealth is being linked to the weak performance of Reliance in some sectors. Industry expert Anil Mehta says, “Fluctuations in the oil and refinery business and lower-than-expected returns on Jio’s investment affected Ambani’s wealth. At the same time, the Adani Group faced global pressure in coal and infrastructure.” Trump also included in the list
An interesting fact is that US President Donald Trump is also ranked 700th in this list. His wealth, which comes mainly from real estate and investments, got him a place in this huge list. However, his position is far from the top billionaires.
What does this list say?
This Forbes report points to changing trends in the global economy. The dominance of technology-based companies is increasing, while the pressure on traditional industries is clearly visible. For India, this list presents a mixed picture. While the number of billionaires has increased, maintaining its hold on the top is proving to be challenging. “The slide of Ambani and Adani is a signal for India that new ways will have to be found to remain in global competition,” warned economist Priya Sharma.
For now, it is clear that the 2025 billionaire list has highlighted major changes not only in personal wealth, but also in the global business landscape. In the coming days, everyone’s eyes will be on the strategies of these giants.