New Delhi: Gautam Adani and family reclaimed the top spot on India's rich list, overtaking Mukesh Ambani, as the country's billionaire population hit a record 391, according to the M3M Hurun India Rich List.

Adani's wealth rose 13 per cent to Rs 9.23 lakh crore (USD 96 billion), while Ambani's fell 10 per cent to Rs 8.63 lakh crore, leaving a gap of Rs 59,400 crore between the two.

Lakshmi Niwas Mittal and family jumped to third place, with wealth nearly doubling to Rs 3.39 lakh crore, boosted by higher European steel prices and trade protection.

Vaccine maker Serum Institute's Cyrus Poonawalla and family were ranked fourth, followed by HCL's Roshni Nadar Malhotra, Kumar Mangalam Birla, Sun Pharmaceutical's Dilip Shanghvi and Wipro's Azim Premji.

Anil Agarwal and family climbed to ninth with Rs 2.08 lakh crore, while Samir Mehta and family entered the top 10 at 10th after a 52 per cent increase in wealth following the completion of the JB Chemicals merger.

"Charted together over a decade, the ten richest Indians cross and re-cross one another repeatedly. The most closely fought contest is at the top: Gautam Adani and family overtook Mukesh Ambani and family in 2022, fell behind again in 2023, retook the lead in 2024, lost it in 2025, and have now reclaimed it - five changes of position in five years," Hurun said.

Adani's line is also the most volatile on the chart, peaking at Rs 11.62 lakh crore in 2024, then falling to Rs 8.15 lakh crore before recovering to Rs 9.23 lakh crore. Mukesh Ambani's line rose from Rs 2.58 lakh crore in 2017 to Rs 10.15 lakh crore in 2024 but has since given up ground in two successive years to Rs 8.63 lakh crore.

"The chase pack is where the weaving is densest. All eight of the remaining top ten sat between Rs 17,300 crore and Rs 2.58 lakh crore in 2017 and are now bunched between Rs 1.89 lakh crore and Rs 3.39 lakh crore, having traded places many times over. LN Mittal & family began the decade ahead of the group, slipped behind between 2020 and 2022, and have surged clear to third at Rs 3.39 lakh crore.

"Anil Agarwal and family and Samir Mehta and family started at the bottom of the field and have climbed to ninth and tenth, multiplying their wealth by 12.0 and 7.6 times, respectively. Azim Premji and family show the sharpest single reversal in the group, dropping in 2022 before a strong three-year recovery to eighth," it said.

Gautam Adani and family reclaimed the top spot as India's richest with wealth of Rs 9.23 lakh crore, a 13 per cent gain, moving up from second place last year. Mukesh Ambani and family hold second position with Rs 8.63 lakh crore after a 10 per cent decline, leaving Adani ahead by Rs 59,400 crore.

LN Mittal and family are a new entrant in the top ten, entering at third place as wealth rose 93 per cent to Rs 3.39 lakh crore. Cyrus S Poonawalla and family held steady at fourth with Rs 3.03 lakh crore, up 23 per cent, whilst Roshni Nadar Malhotra and family eased two places to fifth at Rs 2.79 lakh crore and remain India's wealthiest woman.

Kumar Mangalam Birla and family are sixth at Rs 2.69 lakh crore, up 15 per cent, and Dilip Shanghvi holds seventh with Rs 2.65 lakh crore, also up 15 per cent. Azim Premji and family retain eighth place with a 19 per cent rise to Rs 2.63 lakh crore.

Anil Agarwal and family are new to the top ten in ninth place at Rs 2.08 lakh crore on an 87 per cent gain, whilst Samir Mehta and family complete the top ten, new to it this year at Rs 1.89 lakh crore following a 52 per cent rise at Torrent Pharmaceuticals.

India's rich list expanded to 1,810 individuals with wealth of at least Rs 1,000 crore, 128 more than a year earlier. Their combined wealth rose 12.8 per cent to Rs 187.5 lakh crore, equivalent to about USD 1.96 trillion and nearly half of India's economic output, Hurun said.

The country added 27 dollar billionaires during the year, taking the total to a record 391. Over the past five years, the number has risen from 237.

Technology is reshaping the ranks of India's wealthy. Artificial intelligence appeared as a standalone sector for the first time, with 19 entrants holding combined wealth of Rs 3.07 lakh crore. Bengaluru-based QpiAi founder Nagendra Nagaraja became the first quantum-computing entrant, with wealth of Rs 1,700 crore.

Entrepreneurs accounted for 70 per cent of the list, with 1,266 self-made individuals, up from 55 per cent five years ago. Industrial products led sectors by number of entrants with 166, followed by chemicals with 142 and pharmaceuticals with 136.

Mumbai remained India's biggest wealth hub, with 465 people on the list, followed by New Delhi with 236 and Bengaluru with 129. Women accounted for 131 entries, including 33 dollar billionaires. Roshni Nadar Malhotra and family remained India's richest woman, with wealth of Rs 2.79 lakh crore.

The list also highlighted a widening Indian diaspora, with 156 members living outside the country, including 90 in the United States and 31 in the United Arab Emirates.

Aditya Kumar Halwasiya of Cupid was the fastest wealth creator, with his fortune jumping 859 per cent to Rs 18,800 crore. Zepto co-founder Kaivalya Vohra, 23, was the youngest entrant, followed by co-founder Aadit Palicha, 24.

Hurun said listed fortunes increased at an average pace of Rs 5,833 crore a day during the period covered by the 2026 ranking. PTI