The Indian billionaire community has experienced significant wealth erosion in 2025, with some of the country’s top business leaders witnessing sharp declines in their net worth. Leading the pack are prominent property developers K.P. Singh and Mangal Prabhat Lodha, who have seen substantial drops in their fortunes. Singh, the chairman of DLF, the nation’s largest real estate developer, has seen his wealth plunge by around 25%, bringing his net worth down to $13.6 billion. Meanwhile, Lodha, the founder of Macrotech Developers, also experienced a 21% drop, reducing his net worth to $9.8 billion.
Gautam Adaniand Shiv Nadar art the name faced significant wealth declines, including Gautam Adani, the promoter of the Adani Group, and Shiv Nadar, the founder of HCL Technologies. Adani’s net worth fell by 20%, now standing at $63.4 billion. Nadar’s wealth also declined by 20%, reducing his net worth to $35.6 billion.
Further notable declines:
In addition to the aforementioned billionaires, several other well-known figures have been impacted.
Radhakishan Damani, owner of Avenue Supermarts (DMart), Pankaj Patel of Zydus Lifesciences, and Dilip Shanghvi of Sun Pharmaceutical Industries have also seen major losses.
Shapoor Mistry & Family and Savitri Jindal, India’s wealthiest woman and head of the O.P. Jindal Group, have similarly experienced significant wealth erosion.
Billionaires showing resilience despite the market turmoil:
Despite the broader market turmoil, a few billionaires have managed to weather the storm with more modest declines. Rahul Bhatia and Rakesh Gangwal, co-founders of InterGlobe Aviation (IndiGo), have seen minimal changes in their wealth. Lakshmi Mittal, chairman of ArcelorMittal, recorded only a 1.4% drop in wealth, while Uday Kotak and Benu Bangur experienced much smaller declines at 2.7% and 4%, respectively.
Market factors contributing to the downturn:
The sharp market declines in 2025 can largely be attributed to sustained foreign investor sell-offs, high valuation concerns, and a slowing economy. Global trade tensions, especially following Donald Trump’s re-election, have further exacerbated the situation. The Sensex and Nifty indices have each dropped by approximately 4.5% year-to-date, while broader indices like BSE MidCap and BSE SmallCap have suffered deeper losses of over 14% and 17%, respectively.
