The Coal Billionaire Gautam Adani Is Now Asia’s Richest Person, Surpasses Mukesh Ambani

Gautam-Adani-Dethrones-Mukesh-Ambani,-Becomes-Asia’s-Richest-Person

Highlights:

  • Gautam Adani surpassed Mukesh Ambani as Asia’s richest person on Wednesday, based on group market cap.
  • His net worth has now reached approximately $90 billion, marking a more than 1800% increase.
  • Ambani’s fortunes have suffered as a result of the RIL-Aramco deal scrap 

Gautam Adani, the founder and chairman of Adani Group, surpassed Mukesh Ambani, the chairman of Reliance Industries Limited (RIL), to become Asia’s richest person on Wednesday based on group market cap. According to sources, Adani’s net wealth drastically soared since April 2020. His net worth was $ 4.91 billion till March 18, 2020.

Adani Group now operates a number of businesses, including Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Total Gas, Adani Ports & SEZ, and Adani Power.

Adani’s fortunes have suddenly surged, particularly after pandemic outbreak. On March 18, 2020, his total net worth was estimated to be about $4.91 billion. His net worth has already risen to approximately $90 billion, a more than 1800% rise.

Ambani’s net worth, on the other hand, has suffered a minor damage because Reliance Industries cancelled the arrangement with Aramco, a Saudi Arabian public petroleum and natural gas firm located in Dhahran.

But, a turn of fortune is projected to occur shortly. On Tuesday, Adani’s net worth was $88.8 billion, according to the Bloomberg Billionaire Index (November 23). Ambani, on the other hand, has a net worth of $91 billion. 

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However, on Wednesday (November 24), shares of Reliance Industries Limited dipped by 1.77 percent while Adani shares rose by 2.34 percent, reducing the gap between Adani and Ambani’s net worth.

Elon Musk, the founder of Tesla, topped the list of Richest man in the world with net worth of $304 billion, followed by Jeff Bezos ($205 billion) and Bernard Arnault ($170 billion). Ambani and Adani were ranked 12th and 13th, respectively.

The Bloomberg Billionaires Index is a daily list of the top 500 wealthiest persons in the world. Ambani’s overall net worth was estimated to be $101 billion in the previous month. The overall net worth of Adani Group’s chairman was $73.3 billion.

Gautam Adani increased his wealth by $55 billion in 2021, whereas Mukesh Ambani increased his wealth by $14.3 billion. 

The overall market value of the listed Adani Group enterprises is Rs 10 trillion, compared to Reliance Industries’ market capitalization of Rs 14.91 trillion, yet Gautam Adani is richer than Mukesh Ambani due to his higher promoter ownership in his listed group firms.

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Swastika Dubey

Swastika Dubey is a content writer who has a keen interest in politics, fashion, and lifestyle. She is a post-graduate in Economics and loves to listen to classic old Hindi songs and travel to new places in her leisure time. Her writing is well researched, covering important aspects and core of the topic covering crucial points.

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