Ambani Dethrones Adani As Asia’s Richest; Gains 10th Spot In World

Mukesh Ambani and Gautam Adani are edging one another to regain the richest Asian tag. On a daily basis, after Adani had gained the highest spot, Reliance Industries chief Mukesh Ambani snatched the crown from Adani.

As per Bloomberg’s Global Ranking of Billionaires, Ambani is now in the 10th spot with a complete net worth of $89.2 billion, while Adani is now ranked 11. Two days ago, Indian coal mining tycoon Gautam Adani became Asia’s richest person because of a push into green energy that has boosted his fortune to $88.5 billion, The Guardian reported.

Adani had overtaken fellow countryman Mukesh Ambani to enter the highest 10 of the world’s richest people, in step with figures from Forbes and Bloomberg, after seeing his fortune rise by $12 billion within the past year.

Among the mega-rich whom Adani has leapfrogged to achieve the globe top 10 were Facebook founder Mark Zuckerberg, who slipped down the table several places last week after losing $ 30 billion of his fortune, the report said.
In 2021, he added $55 billion to his fortune, compared to Mukesh Ambani’s $14.3 billion.

According to the Bloomberg Billionaire Index, Gautam Adani, who incorporates a net worth of $88.8 billion, is $2.2 billion behind Mukesh Ambani, who includes a net worth of $91 billion. Because of the increase in shares of his publicly traded group companies and therefore the decline in Reliance Industries shares, he surpassed Ambani.

Adani’s net worth climbed by over 180% to a shocking $83.89 billion within the last 20 months, while Ambani’s increased by 250%, i.e., $54.7 billion.

Adani’s net worth is currently $90.4 billion, while Ambani’s is $89.8 billion. After the $15 billion O2C agreement with Saudi Aramco was cancelled, Ambani’s stock plummeted. Adani Port and SEZ shares, additionally as Adani Power shares, soared at the identical time.

Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Transmission, Adani Total Gas and Adani Power are among the firms that conjure the Adani Group. It controls the port of Mundra, India’s largest, within the mogul’s home State of Gujarat and he also owns 74% of Mumbai international airport.

But his push into green energy has paid off handsomely within the past year with the listed company Adani Green Energy now his Most worthy after its share price almost doubled within the past 12 months, the report said. The group is in the process of ploughing $70 billion into green energy projects by 2030 to become the world’s largest renewable energy producer.

Although the complete market valuation of the listed Adani Group enterprises is fixed at Rs. 10 trillion, compared to Rs. 14.91 trillion for Reliance Industries, Gautam Adani is richer than Mukesh Ambani thanks to his greater promoter ownership in his listed group firms.

Green energy venture boosted Adani’s fortune by $12bn in one year to $88.5bn; Coal mining tycoon overtakes Mukesh Ambani to enter the world market.

Gautam Adani has also surpassed Francoise Bettencourt Meyers, the world’s wealthiest lady. consistent with the Forbes Real-Time Billionaires index, Francoise Bettencourt Meyers and Family have a net worth of $83.2 billion.