According to the Bloomberg Billionaires Index, Gautam Adani has a net worth of $97.6 billion and Mukesh Ambani has a net worth of $97 billion.
New Delhi: Adani Group Chairman Gautam Adani on Friday overtook Reliance Industries Chairman Mukesh Ambani on the Bloomberg Billionaire’s Index (BBI), becoming the richest man in India and Asia. This was caused by a surge in shares of the Ports-to-Power conglomerate after the Supreme Court rejected demands for a new investigation into Hindenburg’s allegations.
Gautam Adani’s net worth is $97.6 billion
According to the Bloomberg Billionaires Index, Gautam Adani has a net worth of $97.6 billion as of 9:30 am on Friday. On the other hand, Mukesh Ambani currently has a net worth of $97 billion.
Globally, Gautam Adani ranks twelfth, making him Asia’s richest man, while Mukesh Ambani ranks one place lower at thirteenth.
Adani Group’s rise in fortunes comes as the Supreme Court places faith in SEBI’s probe into the Adani-Hindenburg saga and says there is no need for a fresh probe into the short sellers’ allegations.
Adani Group’s $100 billion growth plan, US government support for its port project in Sri Lanka and general market sentiment following the BJP’s victory in the three Hindi belt states are also believed to have largely contributed to the growth prospects.
In December last year, Gautam Adani climbed to the 15th spot, closing in on Ambani, who was at 14 at the time.
Gautam Adani’s net worth
Gautam Adani has become the 12th richest person in the world with a net worth of $97.6 billion and the richest Indian and Asian on the list. It is interesting to note that Gautam Adani has gained $7.67 billion from the last position and $13.3 billion year-to-date (YTD). Earlier, Gautam Adani witnessed his wealth drop many spots amid Hindenberg’s allegations.
How net worth grew over the years
The Adani Group, led by Gautam Adani, is a major infrastructure conglomerate in India. Adani owns the country’s largest private port and plays a prominent role in the global coal trade. This has added to his net worth as Adani Enterprises, the flagship within the group, announced revenues of $17 billion for the fiscal year ended March 31, 2023.
Adani’s net worth grew overall through his ownership in six publicly traded companies affiliated with the Adani Group, the conglomerate he founded.
According to BBI, Adani’s businesses and interests (through the promoter group and through the Adani family trust) include the listed companies: Adani Enterprises (73 percent); Adani Green Energy (56 percent); Adani ports (66 percent); Adani Power (70 percent); Adani transmission (68 percent); Adani Energy Solutions (73 percent) and Adani Total Gas (37 percent).
Who are other Indians in the Top 50 Rich List?
Apart from Gautam Adani, Mukesh Ambani is now Asia’s second richest person at 13th place with a net worth of $97 billion. Other Indians in the BBI Top 50 include Shapoor Mistry with $34.6 billion at 38, and Shiv Nadar with $33 billion at 45th.