According to Bloomberg’s list of the world’s wealthiest people, New Delhi: Gautam Adani of India has surpassed his fellow countryman Mukesh Ambani to become the richest person in Asia.
The Bloomberg Billionaires Index reports Adani, the group’s 59-year-old founder controls businesses ranging from aerospace ports to coal and thermal energy now has a net worth of $88.5 billion.
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Gautam Adani has seen his fortune skyrocket during the pandemic like other billionaires worldwide. His net worth was less than $40 billion at this time last year. With the enormous spike, he has surpassed India’s energy-to-tech mogul Mukesh Ambani, becoming the 10th richest person globally.
Adani Group has performed exceptionally on the Indian stock market during the pandemic. Investors are optimistic of Adani’s ability to bet on infrastructure and renewable energy as shares of Adani Enterprises jump over 1,000% on the Mumbai National Stock Exchange in Mumbai.
Ambani, who controls Reliance Industries, is now in the Bloomberg index’s 11th spot with a net worth of $87.9 billion.
Gautam Adani’s wasn’t the only upheaval the billionaires ranking has seen recently. Last week, Meta (FB), the parent company of Facebook, saw a historic collapse on its stock market that wiped more than $30 billion off Mark Zuckerberg’s wealth. The CEO and co-founder of Met stood 13th on the Bloomberg Billionaires Index.