Gautam Adani Becomes Asia's Second Richest Person, Topples China's Zong Shanshan

RIL CEO Mukesh Ambani’s net worth stands at $76.5 billion, making him the 13th richest in the world, followed by Gautam Adani at 14th.

New Delhi: Billionaire Gautam Adani has toppled Chinese tycoon Zhong Shanshan to emerge as the second-richest Asian, as per the Bloomberg Billionaire Index. China’s Zhong held the position of richest Asian until February before he lost the position to Reliance Industries Ltd chairman Mukesh Ambani.

Even as Ambani' wealth depleted by $175.5 million this year, Adani’s wealth rose by $32.7 billion to touch $66.5 billion, against Zhong’s $63.6 billion. Ambani’s net worth stands stands at $76.5 billion, making him the 13th richest in the world, followed by Adani at 14th, as per the Bloomberg Billionaire Index. Also Read: Govt Extends Income Tax Filing Deadline For FY-2021 By 2 Months - Check Revised Dates

Zhong holds the position of China’s richest man with a net worth of $63.6 billion after the stock listings of Nongfu Spring mineral water in 2020 along with the pharma company Wantai Biological Pharmacy Enterprise business reaping the benefits of the pandemic situation.

Adani’s wealth witnessed a surge as a result of the rise in share prices of Adani Green, Adani Enterprises, Adani Gas and Adani Transmission. Adani Total Gas shares also soared almost 12-fold in the past year, while Adani Enterprises and Adani Transmission shares also jumped more than eightfold and sixfold, respectively.

Adani Green Energy witnessed a traction of fourfold and Adani Power has nearly tripled, respectively, during this period, while Adani Ports more than doubled.

Starting as a commodity trader, Gautam Adani has succeeded in owning companies across ports, airports, energy, resources, logistics, agribusiness, real estate, financial services, gas distribution and defence, among others.

On Wednesday, Adani Green Energy said it will acquire SoftBank’s Indian renewable energy business SB Energy’s 5 gigawatts renewable power portfolio for an enterprise valuation of $3.5 billion.

The deal is one of the largest acquisitions in the renewable energy sector in India, as per the company. It is one of the many deals the group has entered in the past two years, to increase its dominance in India’s infrastructure sector.