New Delhi, Nov 24, 2021: Chairman of Adani Group, Gautam Adani, has replaced Reliance Industries Limited (RIL) chairman Mukesh Ambani to become the richest man in India and Asia for the first time ever.
Currently, Adani Group operates a slew of companies including Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Transmission, Adani Total Gas, and Adani Power, among others.
Adani’s wealth has swelled up recently, especially after the onset of the pandemic. For instance, his total wealth stood at around $4.91 billion on March 18, 2020. As of now, his net wealth has touched nearly $90 billion - a rise of more than 1800%.
On the other hand, Ambani’s net wealth has taken a slight hit after Reliance Industries scrapped the deal with Aramco, a Saudi Arabian public petroleum and natural gas company based in Dhahran.
However, the change of fortune was expected to happen anytime soon. According to Bloomberg Billionaire Index, Adani’s wealth had stood at $88.8 billion on Tuesday (November 23). On the other hand, Ambani’s net wealth stood at $91 billion.
But on Wednesday (November 24), shares of Reliance Industries Limited dropped by 1.77% while the shares jumped 2.34%, closing in on the difference between the net wealth of Adani and Ambani.