The new year kicked off with a jolt for India’s top business titans. Mukesh Ambani and Gautam Adani took big hits to their wealth on January 6 amid wild stock swings that spooked investors worldwide.

Reliance Stock Tanks Hard

Ambani’s Reliance Industries plunged nearly 5% to Rs 1,507.70, erasing over $10 billion in market cap overnight. Blame it on profit-taking after a stellar 29% run-up in 2025, plus jitters from Tata’s Trent posting a 15% drop in revenue per square foot-signaling softer consumer wallets. A Bloomberg story about Russian crude heading to Reliance’s Jamnagar refinery added fuel to the fire, though the company shot it down as “flat-out false,” confirming no such shipments in weeks.

Global Top 10 Billionaires (Jan 2026 Update)

Tech giants still rule the roost on Bloomberg Billionaires Index and Forbes real-time rankings, with 9 of the top 10 hailing from the US. Here’s the fresh pecking order:

Worldwide Wealth Rollercoaster

The chaos didn’t spare anyone, Elon Musk shed $13.48 billion as Tesla dipped 4%. Jeff Bezos hung tough at 4th with $251-$262 billion after earlier wins. Larry Page ($257-$270B, 2nd) and Sergey Brin ($233-$256B, 5th) held firm, while Zuckerberg and Ellison rode the tech wave’s ups and downs. Interactive Brokers’ Thomas Peterffy jumped to around 20th at $87 billion, nipping at Adani’s heels.

Ambani vs Adani: Before and After

What’s Next for Markets?

Expect more bumps as 2026 rolls on geopolitical heat, shaky economic data, and earnings season loom large. These dips are par for the course after a bull market binge, but Ambani and Adani’s sprawling empires in energy, infra, retail, and tech make them rebound pros. India’s billionaire duo still owns the domestic game, even as global tech reshuffles the deck.