Ambani pips Adani for top spot: On richest Indians' list, tracing 5 years of flip-flop

This first-second juggle between the richest two families in India on Hurun list began in 2022 when Adani overtook the Reliance chairman to become wealthiest

Reliance Industries Limited (RIL) chairman Mukesh Ambani and family dethroned Gautam Adani and his family to become India’s richest in the M3M Hurun India Rich List 2025.

Mukesh Ambani and Gautam Adani (File Photo)

Ambani secured the top spot with a net worth of ₹9.55 lakh crore, while Adani was named the second richest with a net worth of ₹8.15 lakh crore.

Roshni Nadar Malhotra, chairperson of HCL Technologies, was named India’s richest woman as she entered the top 3 for the first time with a wealth of ₹2.84 lakh crore.

Adani had dethroned Ambani and claimed the top spot in 2024, with a wealth of ₹11.6 lakh crore.

This ‘flip-flop’ between two of the richest business families in the country began in 2022 when Adani overtook the Reliance chairman to become the wealthiest. Until then, Ambani had occupied the top spot for 10 years straight.

Here’s a look at the ‘flip-flop’ between the two businessmen over the past few years:

Hurun India Rich List 2022

Gautam Adani dethroned Mukesh Ambani in the 2022 list to become the richest man in the country with a net worth of ₹10.94 lakh crore.

Before this, the Reliance chairman had held the top spot for a decade.

Hurun India Rich List 2023

Mukesh Ambani reclaimed the top spot from Adani in the Hurun India Rich List 2023.

Notably, Ambani and his family secured the top spot with a net worth of ₹8.08 lakh crore, while Adani came in second with a net worth of ₹4.74 lakh crore.

Hurun India Rich List 2024

Adani dethroned Ambani to become India’s richest individual with a net worth of ₹11.6 lakh crore in the 2024 Hurun India Rich List.

Notably, Ambani and his family secured the second spot with a net worth of ₹10.14 lakh crore.

And in 2025, the spots have flipped again, with Mukesh Ambani back on top.