India’s Gautam Adani founder and chairman of Adani Group have crossed Mukesh Ambani of Reliance Industries Ltd. Gautam becomes the richest person of Asia, broadcasters reported from the latest listings of Bloomberg Billionaires Index.
He is now one of the top 10 wealthiest people in the world and has a net worth of $88.5 billion, which is roughly $600 million more than Mukesh Ambani’s net worth.
Ambani’s wealth saw a year-to-date fall of about $2.07 billion, while Adani’s increased by about $12 billion YTD, which made the former, the second richest person in India and Asia and 11th richest in the entire world. Ambani’s total net worth is $87.9 billion, as of February 8.
Ambani ranked first in the list of the wealthiest person in India and Asia in November of last year, with Gautam Adani trailing him by about $2.2 billion.
In the last one year, Reliance Industries’ share price has risen by about 18.50%. It is trading at Rs2,312.75 per share as of Tuesday morning. In comparison, Adani Enterprises Ltd has climbed over 170% in the last one year and was trading at Rs1,741 on Tuesday morning.
Both the billionaires, who have taken profits through oil, now have been investing in a renewable energy. Adani has committed to invest $70 billion this decade to help his company while Ambani has committed $10 billion over the next three years as part of a larger $76 billion spend plan in renewables, according to the Bloomberg report.