Mukesh Ambani to Shiv Nadar: India’s top 4 billionaires lose $10 billion in market crash

India’s richest individuals saw their net worth plummet after US President Donald Trump’s tariff measures sent the market into a tailspin, erasing billions of dollars.

The combined net worth of the top four Indian billionaires–Mukesh Ambani, Gautam Adani, Savitri Jindal and family, and Shiv Nadar–declined by over $10 billion, according to Forbes’ real-time billionaire list.

Reliance Industries chairman Mukesh Ambani’s net worth dropped $4.2 billion to $87.2 billion as the conglomerate’s share crashed over 4% on Monday.

Gautam Adani, the second-richest Indian and 26th on the Forbes list, saw a $3.7 billion decline, bringing his total net worth down to $56.6 billion.

Savitri Jindal & family slipped to the 45th position globally, losing $2.7 billion as their net worth fell to $33.4 billion.

Indian IT pioneer Shiv Nadar, who cofounded HCL, also saw his fortune drop by $1.6 billion, settling at $30.7 billion.

Other Indian billionaires who saw their net worth drop sharply on Monday are Kumar Mangalam Birla, Uday Kotak, Kushal Pal Singh, Sunil Mittal, Mangal Prabhat Lodha, and Rajiv Bajaj, among others.

The sharp drop in billionaires' wealth came as Indian benchmark indices cracked over 5 per cent on Monday, in tandem with massive sell-offs across the board, as US President Donald Trump's tariff hikes and retaliation from China fuelled investors' jitters amid fears that a full-blown trade war will impact economic growth across the globe.

The 30-share BSE benchmark Sensex crashed 3,939.68 points or 5.22 per cent to 71,425.01 in early trade. The NSE Nifty tumbled 1,160.8 points or 5.06 per cent to 21,743.65.

During the afternoon trade, the BSE benchmark quoted 3,205.31 points or 4.25 per cent lower at 72,159.38, and the Nifty traded with a cut of 1,038.95 points or 4.54 per cent at 21,865.50.

All the Sensex firms were trading in the negative territory.

Tata Steel dropped over 9 per cent, followed by Tata Motors which cracked more than 8 per cent. Larsen & Toubro, HCL Technologies, Kotak Mahindra Bank, Infosys, ICICI Bank, Axis Bank, Reliance Industries and Adani Ports were the other big laggards.