Gautam Adani, the billionaire and chairman of the Adani Group, has reclaimed the title of Asia’s richest person, surpassing Mukesh Ambani, the chairman of Reliance Industries. This shift in rankings comes after a period of significant growth in the shares of Adani’s company.
Adani’s financial journey has been marked by ups and downs, experiencing a notable setback in January 2023 when Hindenburg Research released a report on the Adani Group, leading to a 34 percent decline in his net worth. However, recent developments, including a favorable Supreme Court ruling in the Adani-Hindenburg saga, have propelled him back to the top.
According to the Bloomberg Index, Gautam Adani is currently not only the wealthiest person in India but also the richest in Asia. As of January 5, his net worth stands at $97.6 billion, while Mukesh Ambani closely follows with $97 billion, placing Adani on the 12th spot in Bloomberg’s global billionaires index and Ambani on the 13th.
Remarkably, Adani has emerged as one of India’s most significant wealth gainers in the fiscal year, experiencing the largest surge in net worth. In a single day, his net worth increased by $7.7 billion, contributing to an overall growth of $13.3 billion, making him the leading net worth gainer globally. Mukesh Ambani secured the second spot with a $10 billion addition to his net worth in the same period.
This rapid turnaround solidifies Gautam Adani’s position as a prominent figure in the global wealth landscape, showcasing the dynamism of wealth fluctuations within the business world.
