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Gautam Adani is Asia's richest person again; overtakes Ambani on Bloomberg Index with $111 bn net worth

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Billionaire Gautam Adani has reclaimed the title of Asia’s richest person, surpassing Reliance Industries chairman Mukesh Ambani, according to the Bloomberg Billionaires Index. As of 6 PM on Saturday, Adani, the chairman of Adani Group, holds the 11th spot on the index with a net worth of $111 billion, compared to Ambani’s $109 billion.The significant rise in Adani Group stocks has been a key factor in Adani’s overtaking of Ambani. On Friday, shares of all Adani Group companies surged following a report by Jefferies highlighting the group’s aggressive expansion plans, including $90 billion in capital expenditures over the next decade.

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The market reacted positively, with Adani Group stocks adding up to ₹1.23 lakh crore in investor wealth, bringing their total market capitalisation to ₹17.94 lakh crore intraday. By the close of trading, the market capitalisation had settled at ₹17.51 lakh crore, with an addition of ₹84,064 crore in value.

2023 had been quite challenging for the Adani Group after the Supreme Court ordered a panel to probe the allegations in the Hindenburg report. Adani, who was the third richest person in the world before the report, slipped in the rankings rapidly after the group’s shares saw a sell-off.

However, later the Supreme Court ordered the Securities and Exchanges Board of India (Sebi) to conclude its investigation into the Adani Group and said no more probes were needed. Sebi had said that it could not reach an outcome in its probe.

Last week, Adani also expressed his optimism about the future of the group saying that its best days are ahead. “The road ahead is paved with extraordinary possibilities, and I can promise you that the Adani Group today is stronger than it has ever been,” he said, as reported by NDTV. The Bloomberg Billionaires Index showed that currently, Bernard Arnault is currently the richest person in the world with a net worth of $207 billion. He is followed by Elon Musk and Jeff Bezos with total wealth of $203 billion and $199 billion respectively.Here is the latest ranking of the world’s richest individuals according to their total net worth:

  • Bernard Arnault – $207 billion
  • Elon Musk – $203 billion
  • Jeff Bezos – $199 billion
  • Mark Zuckerberg – $166 billion
  • Larry Page – $153 billion
  • Bill Gates – $152 billion
  • Sergey Brin – $145 billion
  • Steve Ballmer – $144 billion
  • Warren Buffett – $137 billion
  • Larry Ellison – $132 billion

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Welcome to Sromplexport! We’re a company that helps people and businesses import and export products across different countries. Whether you’re looking to source products, manage logistics, or navigate customs regulations, we’ve got you covered. We’re based in Rajkot, Gujarat, India, and we’re committed to providing ethical and transparent service to our clients. We work with industries like textiles, agriculture, and handicrafts, and we’re always happy to build new relationships with people who want to succeed in the import/export world. Thanks for stopping by, and let us know how we can help you!

Sromplexport offers international trade services, including product sourcing, quality control, logistics, and customs clearance. Our ethical and transparent approach simplifies the import/export process for clients in various industries.

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