The fortunes of several Indian billionaires were affected by the ongoing sharp corrections in the stock markets, due to both domestic and global uncertainties.
The most affected include Ravi Jaipuria, K P Singh, Mangal Prabhat Lodha, Gautam Adani, Shiv Nadar, and Dilip Sanghvi, according to a Moneycontrol report.
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Ravi Jaipuria, whose net worth took the steepest hit, is the founder and chairman of RJ Corp, which spans across sectors such as food & beverages, healthcare, and education.
His net worth dropped almost 26%, from the peak of $17.6 billion to $13.1 billion, mostly due to the poor performance of his flagship firm, Varun Beverages, which lost almost 25 percent of its value in 2025 so far.
Meanwhile, KP Singh of DLF and Mangal Prabhat Lodha of Macrotech Developers came second and third in terms of wealth erosion, with Singh’s wealth declining by about 25 percent to $13.6 billion and Lodha’s wealth declining 21 percent to $9.8 billion, according to the report.
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Adani Group Chairman Gautam Adani’s wealth declined by 20% to $63.4 billion, while HCL Technologies founder Shiv Nadar’s wealth also fell 20% to $35.6 billion.
The others include Sun Pharmaceutical Industries founder Dilip Shanghvi, DMart’s Radhakishan Damani, Zydus Lifesciences Chairman Pankaj Patel, Shapoor Mistry & Family, and O P Jindal Group head Savitri Jindal, who is also India’s wealthiest woman.
All of this comes with the Indian stock market facing a steep decline this year, due to continued selling by foreign investors over high valuation concerns, a slowing economy, weakening earnings growth, as well as global trade tensions due to US President Donald Trump’s tariffs.
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As a result, the benchmark Sensex and Nifty indices have each declined by around 4.5 percent year-to-date, while broader indices, such as the BSE MidCap and BSE SmallCap, suffered steeper losses of more than 14 percent and 17 percent respectively, according to the report.
