Mukesh Ambani and Gautam Adani, two of India’s wealthiest individuals, have fallen out of Bloomberg’s $100 billion club this year due to various business obstacles. While India’s top 20 billionaires added $67.3 billion to their fortunes, Ambani’s wealth, which peaked at $120.8 billion in July, has dropped to $96.7 billion amid struggles in the energy and retail sectors. Similarly, Adani’s fortune decreased from a peak of $122.3 billion in June to $82.1 billion due to a US Department of Justice investigation and allegations of bribery linked to Hindenburg Research. Both billionaires are facing significant challenges that are affecting their financial standings and business operations.
