Thursday, 20 June 2024

India’s richest man: Gautam Adani surpasses Mukesh Ambani

  • Gautam Adani has surpassed Mukesh Ambani to become the richest man in both Asia and India.
  • Adani has seen his fortune rise into the top 12 on the global rankings.
  • With a net worth of $97 billion, Ambani is the second richest man in Asia and India.

As per the Bloomberg Billionaire’s Index (BBI), Gautam Adani, the head of the Adani Group of Companies, has eclipsed Reliance Industries’s chairman Mukesh Ambani to emerge as the wealthiest individual in Asia and India.

Ambani is only one spot below Adani at number 13, while Adani has seen his fortune rise into the top 12 on the global rankings. Since the previous year, both have risen in rank.

Adani vs Ambani

As of December 2023, Gautam Adani, the creator of the Adani Group, is the richest Indian and Asian person in the world, having risen to the 15th position on the BBI Top 50 list.

Adani, whose net worth is $97.6 billion, has increased by $7.67 billion since he left his previous post and has $13.3 billion in total this year. However, the Hindenberg accusations in January 2023—which charged the Adani Group with stock manipulation and accounting irregularities—caused his net worth to plummet.

The Adani Group denied the accusations, which resulted in a noteworthy $69 billion decline in Adani’s wealth. Leading India’s infrastructure conglomerate, the Adani Group of Ahmedabad is headed by Adani and possesses the country’s biggest private port in addition to being a major player in the world’s coal trade.

The main source of Adani’s fortune is his ownership of six publicly traded businesses connected to the Adani Group. With a net worth of $97 billion, Ambani, the second richest man in Asia and India, is now ranked thirteenth. In the BBI Top 50 are two other Indians, Shapoor Mistry and Shiv Nadar.

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