Gautam Adani overtakes Mukesh Ambani as Asia’s richest person

Gautam Adani has surpassed Mukesh Ambani to become Asia’s richest person, driven by gains in Adani Group stock values.

Adani’s net worth currently stands at $92.6 billion, while Ambani’s wealth is estimated at $90.8 billion, according to the Bloomberg Billionaires Index. Both tycoons are among the top 20 richest individuals in the world.

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Ambani had long held the top position in Asia and now follows closely behind. While the gap between the two remains narrow, the shift highlights the volatile nature of global wealth movements.

Adani’s rise has been supported by steady gains in his group’s stock performance this year, adding $8.1 billion to his fortune. In contrast, Ambani has seen a decline of $16.9 billion in his net worth over the same period, reflecting mixed trends in Reliance Industries’ market performance.

According to the Bloomberg Billionaires Index, seven of the top 20 billionaires have recorded declines in their wealth this year. Bernard Arnault has seen the sharpest drop, losing $44 billion. Others facing setbacks include Steve Ballmer, Larry Ellison, Bill Gates, Warren Buffett, Amancio Ortega, and Mukesh Ambani.

Globally, Elon Musk continues to top the rankings with a net worth of $656 billion, followed by Larry Page at $286 billion. Other names in the top 10 include Jeff Bezos, Sergey Brin, Mark Zuckerberg, Larry Ellison, Michael Dell, Jensen Huang, Bernard Arnault, and Jim Walton.

Shares of Adani Group flagship Adani Enterprises rose as much as 2.17% to hit an intraday high of ₹2,190.90 on the National Stock Exchange. On the Bombay Stock Exchange, the stock advanced by up to 2.09%.

The gains follow a note by global investment firm Jefferies, which projected a ramp-up in the group’s copper and road businesses during the current financial year.

A sectoral analysis of the index shows that technology entrepreneurs continue to dominate the global rich list, while industrials, energy, and retail billionaires have witnessed relatively higher volatility in their net worth.

Among other Indians, Lakshmi Mittal is ranked 62nd globally with a net worth of $36.9 billion. Shiv Nadar stands at 70th with $33.5 billion, followed by Shapoor Mistry and family at 71st with $33.2 billion.