Gautam Adani, Indian billionaire and founder of the Adani Group, has reclaimed the title of Asia’s richest person.
Adani, 61, surpassed Reliance Industries chairman Mukesh Ambani, 67, after a surge in stock prices of Adani Group companies.
The index now ranks Adani as the world’s 11th richest person with a net worth of $111 billion, while Ambani holds the 12th rank with a net worth of $109 billion.
As Ambani spends millions on his son Anant Ambani and Radhika Merchant’s pre-wedding events, Adani Group shares surged by up to 14% on Friday.
According to Bloomberg, Adani’s net worth increased by $26.8 billion in 2024, while Ambani’s wealth increased by $12.7 billion.
Adani first became Asia’s richest man in 2022 due to his personal wealth growth despite a global economic decline.
However, in January 2023, his conglomerate was impacted by a report from short-seller Hindenburg Research.
Adani started his career in the diamond industry. In 1988, he formed his own company, beginning as an import-export operation in commodities and gradually expanding.
In last week’s annual reports, Adani expressed optimism about the group’s future, stating that its best days are ahead.
