GUWAHATI: Gautam Adani, the Chairperson of the Adani Group, has surpassed Mukesh Ambani, Chairman of Reliance Industries, on the Bloomberg Billionaire's Index (BBI), securing the title of India's and Asia's wealthiest individual as reports state on January 5, reports stated.
Adani now reportedly holds the 12th position on the global rankings, while Ambani follows closely at 13th. Both have ascended in rankings since the previous year.
Adani's net worth of $97.6 billion places him as the 12th richest person globally, marking him as the wealthiest individual in India and Asia. He has experienced a notable increase of $7.67 billion from his previous position on the list and has accumulated $13.3 billion year-to-date (YTD). Adani faced challenges in the past year when allegations from Hindenburg Research led to a significant decline in the stock prices of Adani Group companies, resulting in a substantial decrease of nearly 60 percent in his fortune, plummeting by up to $69 billion, reports stated.
Adani Group, headquartered in Ahmedabad and led by Gautam Adani, is a prominent infrastructure conglomerate in India, boasting the nation's largest private port and a significant role in global coal trading. Adani Enterprises, the flagship company, reported revenues of $17 billion for the fiscal year ending on March 31, 2023.
Gautam Adani's wealth primarily derives from his ownership in six publicly traded companies affiliated with the Adani Group. According to BBI, his companies and stakes include 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).
As per reports, Mukesh Ambani, now the second richest in India and Asia at the 13th spot, holds a wealth of $97 billion. He has seen a gain of $764 million since the last change and added $665 million to his wealth YTD. Other notable Indians in the BBI Top 50 include Shapoor Mistry with $34.6 billion at 38th place and Shiv Nadar with $33 billion at the 45th spot.
