Gautam Adani is back at the top as the richest man in India. Forbes India’s 2026 ranking, priced at the close of 11 September 2026, puts the Adani family at $112.7 billion after three years in second place, and the M3M Hurun India Rich List 2026 agrees, valuing it at Rs 9,22,800 crore on 24 August 2026.
Ten fortunes follow, each traced to the listed company it sits in and the promoter holding in that company’s shareholding pattern for 30 September 2026. Dollar figures for Hurun’s rupee totals use its rate of Rs 95.6346 per dollar on 24 August 2026. This guide is general information, not financial advice.
Richest Man in India: The Short Answer in Rupees and Dollars
Gautam Adani is the richest man in India in October 2026, worth Rs 9,22,800 crore ($96.5 billion) on Hurun and $112.7 billion on Forbes India. Mukesh Ambani is second on both, at Rs 8,63,400 crore ($90.3 billion) and $86.3 billion. The richest person in India on every 2026 count is one of these two.
Ten Fortunes by Listed Company: Promoter Stake, Hurun Wealth and Forbes India Value
| # | Name | Company | Promoter holding (30 Sep 2026) | Hurun wealth, Rs crore (24 Aug 2026) | US$ billion at Rs 95.6346 | Forbes India rank and US$ billion (11 Sep 2026) |
|---|---|---|---|---|---|---|
| 1 | Gautam Adani & family | Adani Enterprises | 71.97% | 9,22,800 | 96.5 | 1st, $112.7 |
| 2 | Mukesh Ambani & family | Reliance Industries | 50.44% | 8,63,400 | 90.3 | 2nd, $86.3 |
| 3 | Lakshmi Mittal & family | ArcelorMittal | 44.68% (family trust, 31 Dec 2025) | 3,39,300 | 35.5 | 4th, $34.7 |
| 4 | Cyrus Poonawalla & family | Serum Institute (unlisted); Poonawalla Fincorp | 59.01% (Poonawalla Fincorp) | 3,03,400 | 31.7 | 6th, $28.4 |
| 5 | Roshni Nadar Malhotra & family | HCLTech | 60.88% | 2,78,500 | 29.1 | 7th, $27.4 (Shiv Nadar) |
| 6 | Kumar Mangalam Birla & family | Grasim and Aditya Birla Group | 45.20% (Grasim) | 2,68,700 | 28.1 | 9th, $23.2 |
| 7 | Dilip Shanghvi | Sun Pharma | 52.68% | 2,64,600 | 27.7 | 8th, $26.3 |
| 8 | Azim Premji & family | Wipro | 72.57% | 2,62,800 | 27.5 | 32nd, $7.87 |
| 9 | Anil Agarwal & family | Vedanta | 54.72% (Vedanta Ltd) | 2,08,300 | 21.8 | 41st, $6.4 |
| 10 | Samir Mehta & family | Torrent Pharmaceuticals | 60.78% | 1,89,400 | 19.8 | 13th, $17.5 (Sudhir & Samir Mehta) |
Where the family holds through several companies, the table shows the largest. ArcelorMittal is listed abroad, and its figure is the Mittal family trust’s share of outstanding shares at the end of 2025.
Stake by Stake: What Each Fortune Is Made Of
1. Gautam Adani: Adani Ports and a $100 Billion AI Bet
Rs 9,22,800 crore ($96.5 billion) | Forbes India $112.7 billion | Adani Ports 66.03%, Adani Power 74.96%
The FY26 release from Adani Ports reports 500.8 million tonnes of cargo, revenue of Rs 38,736 crore, EBITDA of Rs 22,851 crore and profit of Rs 12,782 crore across 15 domestic ports and terminals, with a 27.1% share of all-India cargo.
Forbes India says the group is investing $100 billion in AI infrastructure and that his family fortune rose $20.7 billion, the biggest dollar gain on its ranking. Hurun has him ahead of Ambani by Rs 59,400 crore after a 13 percent rise.
2. Mukesh Ambani: Margin Pressure and a Record IPO
Rs 8,63,400 crore ($90.3 billion), down 10% | Forbes India $86.3 billion, down $18.7 billion | Reliance 50.44%
Forbes India blames margin pressure, including in retail, for the fall in Reliance shares. Jio Platforms, which reported profit of Rs 30,064 crore for FY26, received regulatory clearance on 28 August 2026 for up to 27 crore new shares, about Rs 37,700 crore.
The issue has no offer for sale, so the proceeds go to the company to repay borrowings. For the stake structure and the rest of his wealth, see Mukesh Ambani Net Worth in Rupees.
3. Lakshmi Mittal: The Biggest Gain on the Ranking
Rs 3,39,300 crore ($35.5 billion), up 93% | Forbes India $34.7 billion, 12th to 4th | ArcelorMittal 44.68%
Hurun records a gain of Rs 1.64 lakh crore, the largest of any person, which moved him up eight places to third. ArcelorMittal’s 2025 annual filing shows capacity of 74.6 million tonnes of crude steel and shipments of 54.0 million.
The company’s filing says electric arc furnaces made 26% of 2025 crude steel output. The Mittal family trust holds 44.68%, close to the 45% cap in a 2006 agreement, and the company buys back shares while the trust sells in proportion.
4. Cyrus Poonawalla: A Lender Beside the Vaccine Maker
Rs 3,03,400 crore ($31.7 billion) | Forbes India $28.4 billion, 9th to 6th | Poonawalla Fincorp 59.01%
Poonawalla Fincorp, the group’s listed lender, reported assets under management of Rs 74,008 crore for the September 2026 quarter, up 55.1% in a year, with profit of Rs 375 crore.
The Serum Institute itself is private. It says it makes the polio, BCG, measles and pneumococcal vaccines among others, and that its vaccines are used in about 170 countries, so Hurun prices it from comparable listed companies.
5. Roshni Nadar Malhotra: India’s Richest Woman on Hurun
Rs 2,78,500 crore ($29.1 billion) | Forbes India (Shiv Nadar) $27.4 billion, 5th to 7th | HCLTech 60.88%
Hurun lists her and her family fifth and the country’s richest woman, while Forbes India lists her father, who gave up the chair to her, in seventh place. HCLTech’s own leadership page names her chairperson.
In its investor release for the quarter to September 2026 HCLTech showed net income of Rs 5,132 crore, up 21.2%, and advanced AI revenue of $219 million, up 78% in constant currency.
6. Kumar Mangalam Birla: Cement, Metals and Cross-Holdings
Rs 2,68,700 crore ($28.1 billion) | Forbes India $23.2 billion, 10th to 9th | UltraTech 58.48%, Hindalco 34.67%
UltraTech Cement is the largest piece: its promoters held 58.48% at 30 September 2026, 56.11% of it through Grasim. Hindalco’s promoters held 34.67%, and Hindalco in turn owns 4.29% of Grasim.
Hurun lists the group’s businesses as cement, metals, chemicals, telecommunications, financial services and fashion. Forbes India shows his fortune rising and moves him from 10th to 9th.
7. Dilip Shanghvi: A Year of Record Pharma Sales
Rs 2,64,600 crore ($27.7 billion) | Forbes India $26.3 billion, 8th, unchanged | Sun Pharma 52.68%
Sun Pharma’s results for the year to March 2026 show sales of Rs 58,220 crore, an EBITDA margin of 30.3% and a total dividend of Rs 16 a share. India formulations brought in Rs 19,290 crore.
Its Innovative Medicines business grew 16.4% to $1,420 million, and the US arm passed $1 billion. The promoter total of 52.68% is after three Valia family members, 1.80% in all, were reclassified as public in September 2026.
8. Azim Premji: The Fortune That Was Given Away
Rs 2,62,800 crore ($27.5 billion) | Forbes India $7.87 billion, 22nd to 32nd | Wipro 72.57%
The 13 March 2019 announcement earmarked the economic benefit of about 34% of Wipro for philanthropy. Those shares were worth Rs 52,750 crore ($7.5 billion), and the total endowment, including 67% of Wipro’s economic ownership, was put at Rs 1,45,000 crore ($21 billion).
Forbes India shows him falling ten places to $7.87 billion, while Hurun keeps him eighth at $27.5 billion, a gap of $19.6 billion for one person.
9. Anil Agarwal: The Demerger Year
Rs 2,08,300 crore ($21.8 billion), up 87% | Forbes India $6.4 billion, 41st | Vedanta Ltd 54.72%
Vedanta split on 1 May 2026, separating aluminium, power, oil and gas, and iron and steel from the base metals business left in Vedanta Ltd. Hurun lists his company as Vedanta Resources and reports a rise of 87 percent into ninth place.
Forbes India shows him as a returning entry at 41st. His wealth sits in several listed companies now, with the promoter holding in Vedanta Ltd at 54.72% held through holding companies.
10. Samir Mehta: Buying JB Chemicals
Rs 1,89,400 crore ($19.8 billion), up 52% | Forbes India (Sudhir & Samir Mehta) $17.5 billion, 13th | Torrent Pharma 60.78%
Torrent bought 46.39% of JB Chemicals from Tau Investment Holdings on 21 January 2026 and merged it by issuing 51 shares for every 100 held, an allotment completed on 20 July 2026.
JB contributed about Rs 1,200 crore to Torrent’s Rs 4,921 crore of revenue in the June 2026 quarter, up 55 percent. Hurun restated its 2025 comparison after splitting the Torrent family holding between members.
A Year of Winners and Losers: Who Moved Most
Hurun’s ranking added Rs 5,833 crore of wealth a day across 1,810 people, a total of Rs 187.5 lakh crore ($1.96 trillion), even as the Nifty 50 fell 3.9 percent and the Sensex 5.8 percent. Entry to the top ten now takes Rs 1.89 lakh crore.
- Lakshmi Mittal: up 93 percent, gaining Rs 1.64 lakh crore
- Anil Agarwal: up 87 percent, into ninth
- Samir Mehta: up 52 percent, into tenth
- Gautam Adani: up 13 percent, back to first
- Mukesh Ambani: down 10 percent, to second
On Forbes India Adani’s $20.7 billion was the largest dollar gain. Nadar, Premji and N.R. Narayana Murthy all lost wealth as AI-led automation pressed software services. Radhakishan Damani of Avenue Supermarts slipped from 6th to 11th at $20.4 billion.
From Refineries to Vaccines: The Industries That Built the List
Hurun’s industry data explains the shape of the ten. Metals and mining wealth rose 30 percent, pharmaceuticals 25 percent and financial services 23 percent. Consumer-facing wealth fell: consumer durables 21 percent, food and beverages 9 percent, consumer goods 8 percent and retail 5 percent.
Seven of the ten are in metals, pharmaceuticals, software or vaccines, which is why the top ten reads differently from one built on consumer brands. Hurun also counted 19 AI entrants worth Rs 3.07 lakh crore, none yet in the top ten.
Why Promoter Stakes Are Not Personal Fortunes
A promoter holding is the stake a founding family controls in a listed company; most of the ten own less than 1% in their own names. Mukesh Ambani holds 0.12% of Reliance directly against 50.44% for the promoter group, and Dilip Shanghvi, at 9.60% of Sun Pharma, is the exception. Azim Premji holds 4.12% of Wipro directly and acts as partner for three firms holding 59.54%.
Stakes shift without a sale by the family. Adani Enterprises’ promoters fell from 74.84% to 71.97% in one quarter, Poonawalla Fincorp’s from 63.93% to 59.01% in two, and Torrent’s from 68.31% to 60.78% after an issue of shares.
Where Hurun and Forbes India Part Ways
Hurun’s cut-off was 24 August 2026 and Forbes India’s was 11 September 2026, and Hurun counts people born or brought up in India wherever they live, which is how someone based abroad such as Mittal is in. Premji, at 8th with $27.5 billion on Hurun and 32nd with $7.87 billion on Forbes India, is the widest gap.
Forbes India alone puts Savitri Jindal third ($39.8 billion), Sunil Mittal and family fifth ($32.9 billion) and the Hinduja family tenth ($21.2 billion) in its top ten, all absent from Hurun’s.
Giving Back: Pledges and Foundations of the Ten
- Adani: Rs 60,000 crore pledged in June 2022 for health, education and skills
- Premji: endowment of about Rs 1,45,000 crore after the 13 March 2019 commitment
- Nadar: Rs 2,708 crore in FY25, first on the EdelGive Hurun India Philanthropy List 2025
- Agarwal: a 75 percent pledge, renewed in January 2026, with nearly 15,000 Nand Ghar centres in 16 states
- Birla: community work in 9,000 villages reaching 11 million people
- Ambani: Reliance Foundation reports more than 10 crore people reached since 2010
- Shanghvi: a malaria programme that cut indigenous cases by 91 percent in over 1,200 villages of Mandla
For how this compares abroad, see the richest country in the world.
Frequently Asked Questions
Who is the richest man in India in 2026?
Gautam Adani. Hurun values his family at Rs 9,22,800 crore ($96.5 billion) and Forbes India at $112.7 billion, both ahead of Mukesh Ambani.
Is the richest person in India the same as the richest Indian?
Not always. Hurun counts Indians who live abroad, such as Lakshmi Mittal in third place at Rs 3,39,300 crore. It lists 156 people living outside India, 90 of them in the United States.
How much do you need to be in India’s top ten?
Rs 1.89 lakh crore on Hurun, about $19.8 billion. A place in the top 100 takes Rs 33,000 crore.
