Forbes has released its Billionaire 2023 list, which shows that Mukesh Ambani has reclaimed his position as the richest person in Asia.
Ambani, with a net worth of $83.4 billion, ranks at No. 9 on the world billionaire list.
His rival Gautam Adani has fallen to No. 24 with a net worth of $47.2 billion after his companies' shares plummeted following a report by US short-seller Hindenburg Research.
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Adani was worth nearly $126 billion in January, making him the world's third-richest person at the time.
The list also reveals that the majority of the decline in combined wealth among the 169 Indian billionaires on the list came from the stock rout of companies in the Adani Group, following fraud allegations by Hindenburg Research.
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