Forbes India rich list 2026: Adani back at No. 1, Ambani second
Kalpana Maurya
1 Oct 2026 · 3 min read
Gautam Adani has returned to No. 1 on Forbes' 2026 list of India's 100 richest, with a family fortune of $112.7 billion after a $20.7 billion gain, while Mukesh Ambani fell to second. The list's combined wealth held at about $1 trillion despite a weak year for Indian stocks and the rupee.
Adani Group chairman Gautam Adani has reclaimed the No. 1 position on Forbes' 2026 list of India's 100 richest, published on 1 October 2026, after three years in second place. His fortune, which he shares with his family, rose by $20.7 billion to $112.7 billion, the largest dollar gain on the list.
Reliance Industries chairman and managing director Mukesh Ambani slipped to second with $86.3 billion, down $18.7 billion from a year earlier.
What moved the top two
Forbes linked Adani's rise to the expansion of his infrastructure group, which is investing $100 billion in AI infrastructure. His family's wealth remains below the $150 billion peak it reached in 2022.
For Ambani, Forbes pointed to margin pressure, including in Reliance's retail business, which weighed on the company's shares. Reliance's telecom arm Jio Platforms has regulatory approval for an IPO that could raise up to $3.8 billion, which Forbes said could be India's largest public offering.
The rest of the top four
Savitri Jindal, matriarch of the OP Jindal Group and India's richest woman, held third place although her fortune slipped to $39.8 billion. Steel magnate Lakshmi Mittal was the biggest gainer in percentage terms, with his net worth up 74% to $34.7 billion, lifting him eight places to fourth. Forbes noted his May acquisition of IPL team Rajasthan Royals together with Adar Poonawalla.
Newcomers and decliners
Four people or families joined the list for the first time. Krishna Chivukula entered after listing his Bengaluru precision-engineering company Indo-MIM in July. Brothers Kushal and Chaitanya Desai debuted at No. 69 as shares of cables maker Apar Industries nearly doubled. Aditya Khemka came in at No. 83 on gains in Aditya Infotech, his security and surveillance equipment maker, which listed in 2025. Bhikhabhai, Chandubhai and Kanjibhai Virani, the siblings behind snack maker Balaji Wafers, joined after selling a minority stake to US private equity firm General Atlantic in January.
More than half of the listees saw their fortunes shrink. Forbes said pressure on India's IT services industry from AI-led automation hurt tech founders: the net worths of HCL Technologies chairman emeritus Shiv Nadar, Wipro founder-chairman Azim Premji and Infosys co-founder N R Narayana Murthy all fell. Infosys co-founders Nandan Nilekani and Senapathy Gopalakrishnan were among 11 who dropped off the list. The cut-off to qualify fell to $3 billion from $3.2 billion.
Why it matters
The list's total wealth stayed at about $1 trillion in a year when the rupee fell 8.5% and the stock market 9.5%, according to Forbes. Forbes described the group as resilient, even though more than half of the individual listees ended the year poorer.
Key facts
- List: Forbes India's 100 Richest, 2026
- No. 1: Gautam Adani, $112.7 billion (up $20.7 billion)
- No. 2: Mukesh Ambani, $86.3 billion (down $18.7 billion)
- No. 3: Savitri Jindal, $39.8 billion
- No. 4: Lakshmi Mittal, $34.7 billion (up 74%)
- Combined wealth: about $1 trillion
- Newcomers: Krishna Chivukula; Kushal and Chaitanya Desai; Aditya Khemka; the Virani siblings
- Minimum net worth: $3 billion
- Published: 1 October 2026
Frequently asked questions
Who is the richest person in India in 2026?
Gautam Adani, with a family fortune of $112.7 billion, according to Forbes' 2026 India rich list.
Where does Mukesh Ambani rank?
Second, with $86.3 billion, after a decline of $18.7 billion over the year.
Who is the richest woman on the list?
Savitri Jindal of the OP Jindal Group, who is ranked third.
Who are the new entrants on the 2026 list?
Krishna Chivukula, brothers Kushal and Chaitanya Desai, Aditya Khemka, and the Virani siblings of Balaji Wafers.
