Gautam Adani Beats Mukesh Ambani To Become India’s Richest Person! How Did This Happen?
On Wednesday, billionaire Gautam Adani surpassed Mukesh Ambani to become India’s and Asia’s richest person!
In 2021, Adani adds $55 billion to his wealth, while Mukesh Ambani adds $14.3 billion.
Surprising? But how did it happen?
Gautam Adani Become INDIA’S RICHEST MAN?
Mukesh Ambani has $91 billion and was ranked as Asia’s richest according to Bloomberg’s Billionaires Index, while Gautam Adani net worth was $88.8 billion!
Gautam Adani has surpassed Mukesh Ambani in terms of net worth following the rise in shares of Adani Group listed companies on Wednesday and the fall in Reliance Industries shares.
Fall Of Reliance Industries Shares
Reliance shares fell further on Wednesday as the $15 billion deal with Saudi Aramco to buy a 20% stake in Reliance’s oil-to-chemicals (O2C) company fell through.
The ongoing rise in market capitalization of Adani Enterprises, Adani Green, Adani Total Gas, Adani Power, Adani Gas, and Adani Transmission is one of the key reasons for Adani’s rising net worth.
The combined market capitalization of these companies together is more than Rs 8 trillion based on Thursday’s report.