Gautam Adani, Mukesh Ambani among top Indian billionaires hit hardest as global markets plunge following US tariff hikes. Musk, Lei Jun also see massive losses.
April 8, 2025: New Delhi:
Asia’s wealthiest individuals, including Indian business magnates Gautam Adani and Mukesh Ambani, suffered staggering losses totaling $46 billion during Monday’s stock market crash, now dubbed ‘Black Monday’. The carnage followed US President Donald Trump’s shock announcement of sweeping tariff hikes on Chinese imports.
Also Read: Elon Musk Opposes Trump’s 50% Tariff Plan On China? Know More
According to the Bloomberg Billionaires Index, the 20 richest people globally saw nearly $45.9 billion vanish from their fortunes in a single trading session. In India alone, the stock market plunge wiped out nearly $10 billion from the net worths of top billionaires.
📉 Top Indian Billionaire Losses (as per Bloomberg & Forbes):
- Gautam Adani: Lost $4.26 billion, net worth now at $70 billion
- Mukesh Ambani: Down $3.48 billion, net worth now at $83.4 billion
- Savitri Jindal: Lost $2.28 billion, now worth $29 billion
- Shiv Nadar: Wealth dipped by $1.34 billion, total now $32 billion
- Shapoor Mistry: Down $1.16 billion, also at $32 billion
While Gautam Adani took the biggest hit among Indian billionaires, Mukesh Ambani was reported by Forbes to have seen the largest overall drop in net worth.
🌐 Global Tycoons Hit Hard
- Elon Musk: Wealth dipped below $300 billion, with Tesla stock sliding sharply.
- Pony Ma (Tencent): Lost $6.8 billion, down 12% in one session.
- Robin Zeng (CATL): Wealth slashed by $4.1 billion.
- Lei Jun (Xiaomi): Net worth dropped by a staggering $7.8 billion or 20%.
📊 Market Reaction:
On April 7, the BSE Sensex dropped 2,226 points (2.95%) to close at 73,137.90, after touching an intra-day low of 71,425.01 — a 5.2% plunge. The Nifty 50 tumbled by 742 points (3.24%) to close at 22,161.60.
Markets across Asia echoed the sell-off, with MSCI Asia Pacific Index falling 8.5%, triggering a global wealth wipeout unseen since the COVID-19 crash.
💬 What’s Next?
Markets showed signs of stabilization on Tuesday, with the Sensex bouncing back over 1,100 points to trade above 74,200, and Nifty recovering to 22,500+. However, concerns remain over the long-term impact of Trump’s trade war escalation.
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Gautam Adani, Mukesh Ambani, Trump tariffs, Black Monday, Indian billionaires, Bloomberg Billionaires Index, Elon Musk, stock market crash, Asia market crash, Sensex fall, global economy, Forbes Billionaire List, trade war impact