Gautam Adani pips Mukesh Ambani to become the richest man in India, Asia

Adani Group Chairman, Gautam Adani has become the richest person in India and Asia for the first time replacing Mukesh Ambani, Chairman of Reliance Industries Limited (RIL).

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

Adani’s wealth has increased recently, especially after the start of the pandemic. For example, his net worth as of March 18, 2020, was approximately $4.91 billion. So far, his net worth has reached around $90 billion – an increase of over 1800%.

On the other hand, Ambani’s net worth declined marginally after Reliance Industries scrapped the deal with Dhahran-based Saudi Arabian public petroleum and natural gas company Aramco.

However, a change of fate was expected any time soon. According to the Bloomberg Billionaires Index, Adani’s net worth was $88.8 billion as of Tuesday (November 23). Ambani, on the other hand, had a net worth of $91 billion.

But on Wednesday (November 24) shares of Reliance Industries Ltd fell 1.77%, while the difference between the net assets of Adani and Ambani led to a fall of 2.34% in the shares.