Gautam Adani, the Chairperson of the Adani Group, has surpassed Mukesh Ambani, Chairman of Reliance Industries, on the Bloomberg Billionaires Index (BBI) to become the richest person in India and Asia. Adani is now the world’s 12th richest person with a net worth of $97.6 billion, gaining $7.67 billion from the last list position and accumulating $13.3 billion year-to-date. Ambani is ranked 13th, with a wealth of $97 billion.
Adani’s wealth primarily comes from his ownership in six publicly traded companies affiliated with the Adani Group, a key infrastructure conglomerate in India. These companies include Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Transmission, Adani Energy Solutions, and Adani Total Gas.
In January 2023, Adani faced a significant decline in his net worth following allegations of prolonged stock manipulation and accounting irregularities made by Hindenburg Research. The stock prices of Adani Group companies saw declines, resulting in a substantial decrease in Adani’s fortune. However, he has since rebounded and reclaimed his position as India’s and Asia’s richest person.
Mukesh Ambani, while ranking second in India and Asia, holds the 13th spot on the BBI with a wealth of $97 billion. Other Indians in the BBI Top 50 include Shapoor Mistry at 38th place with $34.6 billion and Shiv Nadar at 45th place with $33 billion.
