Gautam Adani Edges Past Mukesh Ambani To Become Asia's Richest Man

Adani Enterprises chairman Gautam Adani went past the Reliance Industries chief on the basis of the group market cap, as pointed out by the online publication Moneycontrol.

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Updated: 25 Nov 2021 11:48 am

Adani Group Chairman Gautam Adani has raced past Reliance Industries Chairman Mukesh Ambani to emerge as Asia's richest man, business news channel ET Now reports.

Earlier in the day, as per data from the Bloomberg Billionaires Index, the Reliance Industries chairman was leading the race with a total net worth of $91 billion. The Adani Group chairman's stood at $88.8 billion. The index informed that the year-to-date change in net worth for Mukesh Ambani stood at $14.3 billion whereas for Gautam Adani it stood at $55 billion.

Tesla founder Elon Musk held first place in the list followed by Jeff Bezos and Bernard Arnault. Ambani and Adani secured 12th and 13th places respectively.

The Bloomberg Billionaires Index is a daily ranking of the world’s top 500 richest people. In the previous month, Ambani’s total net worth was pegged at $101 billion. Adani Group chairman's total net worth stood at $73.3 billion.

As per ET Now, Reliance Industries was under pressure on the bourses after it decided to re-evaluate its stake sale to Saudi Aramco. It closed 1.48 per cent lower at Rs 2,350.90. On the contrary, Adani group stocks were trading on an upward trajectory. Adani Enterprises closed 2.76 per cent higher at Rs 1,754.65 on Wednesday and Adani Ports closed 4.59 per cent higher at Rs 762.75.

All the group's stock excluding Adani Green and Adani Total were in the positive territory today.

As pointed out by the online publication Moneycontrol, the Adani Enterprises chairman went past the Reliance Industries chairman on the basis of the group market cap. The publication informs Ambani held the top rank in Asia since 2015.

Among the other prominent Indian names in the billionaires' index are Wipro chairman Azim Premji (34th place), HCL founder Shiv Nadar (54th place) and D-Mart founder Radhakishan Damani (64th place).