Forbes India Rich List 2023: The top 20 billionaires are wealthier than the next 80 combined

The total wealth gap between the two groups is $127 billion, down from $296 billion last year

By Fazal Rahim Forbes India Staff

2 min read

Published: Oct 18, 2023 12:07:33 PM IST

Updated: Oct 18, 2023 12:55:30 PM IST

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(from left) Indian billionaires Mukesh Ambani, Savitri Jindal, Shiv Nadar and Sunil Mittal

The net worth of India's top 20 richest people is over $100 billion more than the next 80 combined. According to the Forbes India Rich List 2023, the top 20 listees have a total net worth of $463 billion, while the next 80 have $336 billion.

Among the top 20 are billionaires like Mukesh Ambani, Shiv Nadar, Savitri Jindal, Cyrus Poonawala, Sunil Mittal and Uday Kotak, who have been the top leaders in their respective industries for years. Most of them have also been among the wealthiest people in India for decades.

The total wealth gap between the top 20 and the following 80 richest people is $127 billion, but it has shrunk by $169 billion compared to last year, when it was $296 billion.

While the cumulative net worth of the top 100 changed by a mere $1 billion from $800 to $799 billion this year, the wealth of the top 20 suffered a massive decrease of $41 billion. In 2022, the net worth of the top 20 richest people was $504 billion, which has come down to $463 billion this year.

The most significant contributing factor to the change in the cumulative net worth of the top 20 is the colossal drop in the wealth of Gautam Adami. His net worth is down to $68 billion from $150 billion.

Also read: Billionaires with diversified businesses top the Forbes India Rich List

Furthermore, Radhakishan Damani also suffered a loss of $4.6 billion, with his wealth coming down to $23 billion. Madhukar Parekh’s wealth has dropped from $12.6 billion to $11.1 billion. Cyrus Poonawala and Uday Katak also took a hit of about $1 billion each this year.

Although there is a significant change in the net worth of the top 20 billionaires, there has been only one change in the names. Ravi Jaipuria, who was earlier ranked 21st, has made it to the top 20 as his wealth has increased by $3.5 billion. He has replaced the Dani family, which has slipped to the 22nd place.