Gautam Adani Surpasses Ambani to Become Asia’s Wealthiest Once Again

New Delhi: Gautam Adani, the head of the Adani Group, has once again become the richest person in Asia, surpassing Mukesh Ambani, the chairman of Reliance Industries. This achievement is attributed to a significant surge in the shares of Adani’s companies.

According to the Bloomberg Billionaires Index, Adani is now ranked 11th on the global list of the wealthiest individuals with a net worth of $111 billion. In contrast, Ambani is in 12th place with a net worth of $109 billion.

This recent rise in Adani’s shares was bolstered by a positive rating from the American brokerage firm Jefferies.

As a result, on Friday, the shares of Adani’s companies saw a peak increase of up to 14%, adding approximately Rs. 84,064 crores to his wealth.

The market capitalization of the ten listed companies within the Adani Group has now exceeded Rs. 17.51 lakh crore. The group has also announced plans for business expansion worth $90 billion over the next decade.

Following a favorable Supreme Court ruling, the share prices of Adani’s companies surged, significantly increasing his net worth.

In the last 24 hours alone, Adani’s net worth has risen by more than $5.45 billion (Rs. 45,000 crores). Gautam Adani is recognized as one of the top-earning billionaires in 2024, having accumulated $26.8 billion since January 1, 2024.

During the same period, Mukesh Ambani‘s wealth has grown by $12.7 billion.

Adani’s recovery is remarkable given that in January 2023, following the Hindenburg report, he lost 34% of his wealth, drastically dropping his position in the list of the richest individuals in India, Asia, and the world.

However, in less than a year, he has recovered and reclaimed his position as Asia’s richest person after about 16 months.

In 2022, Gautam Adani was also the wealthiest person in Asia. Despite the significant loss in wealth due to the Hindenburg report in January 2023, his companies’ shares have rebounded due to various corrective measures. So far in 2024, Adani’s wealth has increased by $26.8 billion, while Ambani’s wealth has risen by $12.7 billion.

Adani’s net worth, which was $5 billion in 2014, has soared to $111 billion over the past decade. Notably, in September 2022, he briefly held the position of the second richest person in the world.

Gautam Adani Surpasses Ambani

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