Gautam Adani overtakes Mukesh Ambani as Asia's richest person
Adani oversees India's largest private seaport network and is the country's biggest renewable energy producer and private airport operator.
Indian billionaire tycoon Gautam Adani has overtaken fellow Gujarat industrialist Mukesh Ambani to become Asia's richest person as a sustained rally in shares of his ports-to-energy conglomerate lifted his net worth.
With a net worth of $92.6 billion, Adani surpassed Ambani, whose fortune stands at $90.8 billion, to become the richest person in India and Asia, PTI reported today (17 April), citing the latest billionaire rankings.
Adani oversees India's largest private seaport network and is the country's biggest renewable energy producer and private airport operator.
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He also ranks among the world's largest coal traders.
He is currently ranked 19th on the Bloomberg Billionaires Index, which tracks the world's 500 richest individuals and is updated daily.
Adani's wealth is largely derived from his shareholdings across the group's 10 stock market-listed companies.
A recent surge in Adani Group stocks has added billions of dollars in market value.
On the other hand, Ambani's wealth, anchored by his flagship conglomerate Reliance Industries spanning energy, telecom and retail, has seen comparatively modest gains, reshuffling the region's billionaire rankings.
At the top of the billionaire ranking is Elon Musk, the chief executive of Tesla, the world's most valuable carmaker, and rocket manufacturer SpaceX. His net worth of $656 billion is more than double that of his closest rival, Larry Page. Page, co-founder of Alphabet Inc, the holding company for Google, is worth $286 billion.
Adani and Ambani are the only Indians in the top 50.
