Gautam Adani, Chairperson of the Adani Group, has surpassed Mukesh Ambani on the Bloomberg Billionaire’s Index (BBI), claiming the title of India’s and Asia’s wealthiest individual. Adani’s ascent places him within the top 12 on the global rankings, while Ambani closely follows at the 13th position. Both have notably ascended on the list compared to their standings last year.
“With a net worth of $97.6 billion, the Adani Group founder is now the world’s 12th richest person and the richest Indian and Asian on the list,” stated reports. Adani’s wealth surged by $7.67 billion from the previous position and saw a substantial gain of $13.3 billion year-to-date.
“Earlier last year, Adani faced a decline in his net worth following allegations from Hindenburg Research,” the reports added. The New York-based short seller’s accusations on stock manipulation and accounting irregularities led to a substantial decrease of almost 60% in Adani’s fortune, plunging by nearly $69 billion. These claims were refuted by the Adani Group.
Gautam Adani’s wealth primarily arises from his ownership in various publicly traded companies affiliated with the Adani Group, encompassing sectors like infrastructure and global coal trading. Adani Enterprises, the conglomerate’s flagship entity, reported revenues of $17 billion for the fiscal year ending on March 31, 2023.
Adani’s stakes in publicly traded companies, including Adani Enterprises, Adani Green Energy, Adani Ports, Adani Power, Adani Transmission, Adani Energy Solutions, and Adani Total Gas, contribute significantly to his immense wealth.
Among other Indian figures in the BBI Top 50, Mukesh Ambani now holds the position of India and Asia’s second richest individual at the 13th spot with a wealth of $97 billion. Additionally, Shapoor Mistry is ranked 38th with $34.6 billion, and Shiv Nadar secures the 45th spot with $33 billion.
