Adani Beats Ambani To Become Asia’s Richest Man

Adani Groups founder and chairman, Gautam Adani has surpassed Mukesh Ambani to take over as Asia’s richest man. According to the Bloomberg Billionaires Index the 59 years old business tycoon is net worth $88.5 billion while Reliance Industries chairman Mukesh Ambani is worth $87.9 billion.

Gautam Adani is the world’s biggest wealth gainer this year with an almost $12 billion jump in his personal fortune while for the same year, Mukesh Ambani’s wealth saw a fall of $2.07 billion.

In November 2021, Ambani was leading the chart of the richest man but in three months the fortunes changed drastically towards Adani. The main reason behind Adani’s gains are Adani Total Gas Ltd and Adani Transmission which jumped 250 percent and 370 percent respectively. Besides this, Adani is also investing in renewable energy and this year the investment could be around $70 billion.

Surprisingly Adani’s wealth grew multi-fold in the last two years (in the pandemic) when the country’s economy was on the decline. Adani groups also captured major projects from the union government like airports, ports despite criticism from the opposition.

With the latest ratings, Gautami Adani is also the 10th wealthiest man in the world and Mukesh Ambani followed.