According to the online publication Moneycontrol, the chairman of Adani Enterprises passed the chairman of Reliance Industries because of the group’s market capitalization.
Gautam Adani, chairman of the Adani Group, drove past Reliance Industries chairman Mukesh Ambani to become the richest man in Asia, reports ET Now.
According to data from the Bloomberg Billionaires Index, the Reliance Industries chairman entered the race earlier in the day with total net worth of $ 91 billion. The Adani Group’s chairmanship was $ 88.8 billion. The index said the year-to-date change in Mukesh Ambani’s net worth was $ 14.3 billion, while that of Gautam Adani was $ 55 billion.
Tesla founder Elon Musk ranked first in the list, followed by Jeff Bezos and Bernard Arnault. Ambani and Adani finished 12th and 13th respectively.
The Bloomberg Billionaires Index is a daily ranking of the 500 richest people in the world. In the previous month, Ambani had total net worth estimated at $ 101 billion. The Adani Group chairman’s total net worth was $ 73.3 billion.
ET Now said Reliance Industries was under pressure on the stock markets after it decided to reevaluate its stake in Saudi Aramco. It closed 1.48 percent lower at Rs 2,350.90. On the contrary, the shares of the Adani Group were trading on an upward trend. Adani Enterprises closed 2.76 percent higher at Rs 1,754.65 on Wednesday and Adani Ports closed 4.59 percent higher at Rs 762.75.
All of the group’s stocks were today, with the exception of Adani Green and Adani Total in positive territory.
According to the online publication Moneycontrol, the chairman of Adani Enterprises passed the chairman of Reliance Industries due to the market capitalization of the group. The publication has informed Ambani at the top in Asia since 2015.
Other prominent Indian names in the billionaire index include Wipro chairman Azim Premji (34th place), HCL founder Shiv Nadar (54th place) and D-Mart- Founder Radhakishan Damani (64th place).
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