Gautam Adani, founder and Chairperson of the Adani Group, has surpassed Reliance Industries’ Chairman, Mukesh Ambani, to become the richest person in India and Asia, the Bloomberg Billionaire’s Index (BBI) revealed.
With the ranking, Adani’s net worth today stands at $97.6 billion, making him the 12th richest person in the world and the richest Indian and Asian on the list. The billionaire saw an increase of $7.67 billion in his worth against his last position on the list and has amassed $13.3 billion year-to-date (YTD).
Adani saw his net worth rise into the top 12 on the global rankings, Ambani found himself placed one rank below at 13. Both the billionaires climbed up spots against last year, reported Mint. Notably, earlier in December 2023, Adani rose to the 15th spot on the list, coming close to Ambani, who was placed 14th at the time. In the first half of 2023, Adani’s net worth suffered a major loss due to the Hindenburg allegations, when the US-based research firm accused the Adani Group firms of engaging in stock manipulation, accounting fraud, and excessive debt. Earlier in the week, the Supreme Court in a verdict in the case, refused to transfer the investigation from SEBI to SIT, and instructed the markets regulator to complete the probe into two pending cases within three months.
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Reliance Industries’ Mukesh Ambani emerged as the second richest person in India and Asia, and was ranked 13th in the list with an overall wealth of $97 billion. The Reliance conglomerate head increased his wealth by $764 million since the last change and added $665 million to his net worth YTD.
Other Indians that secured a place on the list are Shapoor Mistry, who controls the Shapoorji Pallonji Group, with a net worth of $34.6 billion, ranked 38th, and Shiv Nadar, founder of HCL Group that operates HCL Technologies, with a wealth of $33 billion, placed 45th.