Mumbai, January 5: According to the Bloomberg Billionaire's Index (BBI), Gautam Adani, the chairman of the Adani Group of Companies, has surpassed Mukesh Ambani, the chairman of Reliance Industries, to become the richest person in both Asia and India. Adani's net worth has risen to the top 12 in the world, although Ambani is only one spot below at number 13. Compared to the previous year, both have risen in rank.

The billionaire had risen to the fifteenth position earlier in December 2023, putting him in close proximity to Ambani, who was ranked fourteen at the time. Gautam Adani Becomes India And Asia's Richest Man Surpassing Mukesh Ambani. 

Know Gautam Adani's Net Worth

The founder of the Adani Group is currently the wealthiest Asian and Indian, ranking 12th in the world with a net worth of $97.6 billion. He has accumulated $13.3 billion year-to-date (YTD) and gained $7.67 billion from the prior list place. However, due to the Hindenberg accusations, Adani's net worth dropped significantly earlier in the year.

The Adani Group was accused by New York-based short seller Hindenburg Research in January 2023 of sustained stock manipulation and violations in its bookkeeping. The Adani Group denied these allegations. Following these accusations, the stock prices of the Adani Group firms fell, causing Adani's fortune to drop by as much as $69 billion, or about 60%. Hurun India Rich List 2023: Billionaire Mukesh Ambani Reclaims Top Spot, Surpasses Adani Group Chairman Gautam Adani; Check Details Here.

About Adani Group

Gautam Adani's Adani Group, based in Ahmedabad, is one of India's leading infrastructure conglomerates. It is a major player in the international coal trade and controls the biggest private port in the country. The group's biggest business, Adani Enterprises, reported $17 billion in sales for the fiscal year that ended on March 31, 2023. Further, the main source of Gautam Adani's fortune is his ownership of six publicly traded businesses connected to the conglomerate he founded, the Adani Group.

(The above story first appeared on LatestLY on Jan 05, 2024 11:21 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).