Amidst a lot of controversies, Forbes has declared that Adani is the richest man in India and Asia, defeating RIL’s Mukesh Ambani.
With $90.1 billion, according to Forbes, Adani is now the richest person in both Asia and India. Additionally, he is the tenth-richest person in the world. In fact, according to Forbes, Ambani is $100 million behind at $90 billion.
Forbes: Adani Is The Richest Man in The World
According to Bloomberg, the top two billionaires in India are ranked 11th and 12th globally. That places them just behind Mark Zuckerberg, the founder of Meta (the former Facebook), who is now only worth $89.4 billion after his social media company crashed as a result of weaker than anticipated results. Since the beginning of the year, Zuckerberg’s net worth has decreased by $31 billion.
For the past 14 years, Ambani has topped India’s list of the wealthiest people. Dilip Shangavi, the king of the pharmaceutical industry, dethroned him a few years ago, but he quickly reclaimed the top spot.
In contrast, Ambani has experienced a $2 billion decline since the beginning of the year. Reliance Industries, owned by Anil Ambani, lost 1.47 percent on Thursday and had previously seen a slight decline for 2022.
According to estimates from Forbes, Ambani was worth $92.7 billion in April 2021 and hasn’t changed much over the course of the year. Following the cancellation of the Reliance deal with Saudi Arabia’s oil giant Aramco, Ambani stock prices also took a hit.
Adani Group Cancels FPO
We recently reported that the Board of Directors of the Adani Enterprises Ltd. (AEL) at its meeting held on February 1, 2023, has decided not to proceed with the further public offer (FPO) of equity shares in the interest of its subscribers.
AEL have decided not to go-ahead with the fully subscribed Follow-on Public Offer (FPO) which is aggregating up to Rs 20,000 crore of face value Rs 1 each on partly paid-up basis and was fully subscribed.
It seems that considering the unprecedented situation and the current market volatility the Company aims to protect the interest of its investing community by returning the FPO proceeds and withdrawing the completed transaction.
