As per the Bloomberg Billionaires Index, Gautam Adani has net worth of $97.6 billion and Mukesh Ambani has $97 billion net worth.
New Delhi: Adani Group chairman Gautam Adani on Friday overtook Reliance Industries Chairman Mukesh Ambani on the Bloomberg Billionaire’s Index (BBI), to become India’s and Asia’s richest man. This was driven by a surge in the ports-to-power conglomerate’s shares after the Supreme Court rejected demand for a new probe into Hindenburg allegations.
Gautam Adani’s Net Worth Stands at $97.6 billion
According to Bloomberg Billionaires Index, Gautam Adani has net worth of $97.6 billion as of 9:30 AM on Friday. On the other hand, Mukesh Ambani has $97 billion net worth at this time.
In global standard, Gautam Adani ranks 12, making him Asia’s richest man and Mukesh Ambani stands a spot lower at 13.
The Adani Group’s wealth surge is driven by Supreme Court reposing faith in SEBI’s probe in the Adani-Hindenburg saga, saying that no fresh investigation is needed into the short seller’s allegations.
It is also believed that Adani group’s growth $100-billion spending plan, the U.S. government’s backing for its port project in Sri Lanka and overall market sentiment after the BJP’s win in the three Hindi belt states contributed largely to the growth prospect.
In December last year, Gautam Adani had climbed to the 15th spot, reaching within close distance of Ambani who was then at 14.
Gautam Adani’s Net Worth
Gautam Adani with a net worth of $97.6 billion has become the world’s 12th richest person and the richest Indian and Asian on the list. What is interesting to note that Gautam Adani gained $7.67 billion from the last position and gained $13.3 billion year-to-date (YTD). Earlier, Gautam Adani witnessed his net worth slide many spots amid the Hindenberg allegations.
How Net Worth Grew Over Years
The Adani Group, led by Gautam Adani, is a key infrastructure conglomerate in India and Adani owns the nation’s largest private port and has a prominent role in global coal trading. This has contributed to his net worth along with Adani Enterprises, the flagship company within the group, disclosed revenues amounting to $17 billion for the fiscal year concluding on March 31, 2023.
Adani’s net worth generally grew from his ownership in six publicly traded companies affiliated with the Adani Group, the conglomerate he established.
According to BBI, Adani’s companies and stakes (via promoter group and through the Adani family trust) include the publicly traded 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 Top 50 Rich List?
Apart from Gautam Adani, Mukesh Ambani is now Asia’s second richest person at the 13th spot with a wealth 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 the 45th spot.