Mumbai, November 24: Gautam Adani, founder and chairman of Adani Group, has become India's and Asia's richest person after surpassing Reliance Industries Limited (RIL) chairman Mukesh Ambani. According to reports, Gautam Adani's wealth skyrocketed in the past 20 months to around USD 90 billion with a rise of over 1800 percent. On March 18, 2020, Adani had a net wealth of USD 4.91 billion. Reportedly, Ambani's net wealth dropped after Reliance Industries scrapped the deal with the world's largest oil producer, Aramco.
The Chairman of Adani Group has added USD 55 Billion (appox) on a year-to-date basis compared with Ambani's USD 14.3 Billion, reported Times Now. Adani group's share price witnessed a rise on Wednesday, however, Mukesh Ambani-owned Reliance group's share prices dropped. Adani Group Picks up Minority Stake in Flipkart-Owned Online Travel Aggregator Cleartrip.
According to Bloomberg Billionaire Index, Adani's wealth had stood at USD 88.8 billion on Tuesday. Notably, Ambani was 'slightly' ahead by a few billion, at around USD 91 billion. With the increase in share prices of Adani group on November 24, Gautam Adani managed to surpass Mukesh Ambani as the richest man in Asia. Gautam Adani Becomes Second Richest Person in Asia, Earned Rs 1,000 Crore Daily in 2020.
As per a report published in Economic Times, the shares of Reliance Industries stayed under pressure and were quoting 1.07 percent lower at Rs 2,360.70 after the recent scrapping of O2C deal. Adani Enterprises rose by 2.94 percent higher to Rs 1757.70. Similarly, shares of other companies of Adani Group, including Adani Ports, traded higher.
(The above story first appeared on LatestLY on Nov 24, 2021 07:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).