A massive global stock market sell-off triggered by increased tariffs from the US, led by President Trump, sent shockwaves through financial markets, causing huge wealth erosion for India's top billionaires. On Monday, the Sensex plunged over 3,000 points and the Nifty fell by more than 900 points, marking one of the sharpest single-day crashes in recent times.
Key Market Fallout
- Sensex: Closed at 73,137.90, down 2.95%
- Nifty: Closed at 22,161.60, down 3.24%
Billionaire Wealth Wipeout
According to Forbes' Real-Time Billionaires List, India's wealthiest individuals lost a combined $10.3 billion in a single day.
1. Mukesh Ambani
- Loss: $3.6 billion
- New Net Worth: $87.7 billion
- Impact: Largest loss among Indian billionaires
2. Gautam Adani
- Loss: $3 billion
- New Net Worth: $57.3 billion
3. Savitri Jindal & Family
- Loss: $2.2 billion
- New Net Worth: $33.9 billion
4. Shiv Nadar
- Loss: $1.5 billion
- New Net Worth: $30.9 billion
Other Major Losses
- Dilip Shanghvi: Lost $819 million, net worth now $26.1 billion
- Cyrus Poonawalla: Lost $390 million, net worth now $23.8 billion
- Kumar Mangalam Birla: Lost $861 million, net worth now $20.4 billion
- Radhakishan Damani: Lost $335 million, net worth now $17.2 billion
Why the Sell-Off?
The sharp decline came after the US raised tariffs on imports from 180 countries, sparking fears of a global trade war and leading to panic among investors. Indian markets, tightly linked to global sentiments, reacted with a broad-based sell-off.
