November 05, 2024 14:57 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region | US presidential election: Donald Trump ahead of Kamala Harris in swing states, poll survey predicts | 'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row | 'I strongly condemn Hindu temple attack, intimidation of our diplomats': PM Modi amid Canada row
Gautam Adani replaces Mukesh Ambani as Asia's richest man on Bloomberg Billionaires Index
Photo courtesy: UNI/wikipedia.org

Gautam Adani replaces Mukesh Ambani as Asia's richest man on Bloomberg Billionaires Index

| @indiablooms | 02 Jun 2024, 03:12 pm

Mumbai: Billionaire Gautam Adani has reclaimed the title of Asia’s richest person from Reliance Industries Chairman Mukesh Ambani, according to the Bloomberg Billionaires Index.

As of 6 pm on Saturday, the Adani Group chairman holds the 11th spot on the index with a net worth of $111 billion, surpassing Ambani's $109 billion.

Adani has overtaken Ambani after nearly five months, with Ambani now in the 12th spot.

Adani's net worth increased by $5.45 billion, while Ambani's saw a gain of $76.2 million.

Year-to-date, Adani's net worth has grown by $26.8 billion compared to Ambani's increase of $12.7 billion.

Ambani had previously surpassed Adani following a significant drop in the Adani Group's valuation due to the Hindenburg report in January 2023, which accused the conglomerate of accounting fraud, stock market manipulation, and fraudulent transactions.

Adani’s return to the top spot was driven by a recent surge in Adani Group stocks.

On May 31, shares of all Adani Group companies garnered attention and rose by 14 percent, following a Jefferies report highlighting the group's aggressive expansion plans, including $90 billion in capital expenditures over the next decade.

Last week, Adani expressed exuded confidence about the future of the group saying that its best days are ahead. “The road ahead is paved with extraordinary possibilities, and I can promise you that the Adani Group today is stronger than it has ever been,” he said, reported by NDTV.

According to the latest Bloomberg Billionaires Index, Bernard Arnault is currently the richest person in the world, with a net worth of $207 billion. He is followed by Elon Musk, who has a total wealth of $203 billion, and Jeff Bezos, whose net worth stands at $199 billion.

Latest ranking of the world’s richest individuals:

Bernard Arnault - $207 billion

Elon Musk - $203 billion

Jeff Bezos - $199 billion

Mark Zuckerberg - $166 billion

Larry Page - $153 billion

Bill Gates - $152 billion

Sergey Brin - $145 billion

Steve Ballmer - $144 billion

Warren Buffett - $137 billion

Larry Ellison - $132 billion

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.