EBM News English
Leading News Portal in English

Gautam Adani Regains Top Spot, Overtakes Mukesh Ambani

There has been a significant shake-up in the list of the world’s top billionaires. This change is evident in the ranking of Indian billionaires as well. According to the Bloomberg Billionaires Index, Gautam Adani, Chairman of the Adani Group, has surpassed Mukesh Ambani, Chairman of Reliance Industries, in terms of net worth.

Due to a substantial surge in the share prices of Adani’s listed companies in the stock market in recent days, his wealth has witnessed a remarkable surge, making him the richest person in Asia.

Gautam Adani Becomes the 11th Richest Person in the World

Due to the recent surge in Gautam Adani’s wealth, he has now become the 11th richest person in the world. His net worth has reached $111 billion, surpassing Mukesh Ambani. According to Bloomberg, Mukesh Ambani’s net worth is $109 billion, which has pushed him down to the 12th position on the list of the world’s richest individuals.

Gautam Adani’s wealth has witnessed a significant surge in the past 24 hours. His net worth has increased by more than $5.45 billion or approximately ₹45,000 crore. This sudden increase in wealth has propelled him from the 12th to the 11th position, surpassing others. It is noteworthy that Gautam Adani is among the highest earners among billionaires in 2024.

He has earned $26.8 billion in wealth from January 1, 2024, onwards. Meanwhile, Mukesh Ambani’s wealth has seen an increase of $12.7 billion this year.

Remarkable Comeback of Adani

The year 2023 was quite challenging for Gautam Adani. On January 24, 2023, when the American short seller firm Hindenburg published its research report on the Adani Group, causing a tsunami in Adani’s share prices, he slipped out of the top 10 billionaires list and quickly descended below the top 30. Now, after almost 16 months, he has once again become the richest person in Asia.

On the last trading day, Adani Group’s listed company shares witnessed an increase of up to 14% in the stock market, and all 10 of his companies were successful in generating profits at the end of the trading day. The highest surge was seen in Adani Power Stock, which rose by more than 14%. However, it later closed at ₹759.80, with an increase of 9%.

Additionally, Adani Total Gas increased by 9% to ₹1,044.50, Adani Enterprises Share by 7% to ₹3,416.75, and Adani Ports by 4% to ₹1,440. Adani Wilmar increased by 3% to ₹354.90, while Adani Green Energy Ltd and Adani Energy Solutions Share witnessed a 2% surge. NDTV shares rose by 8%, while Ambuja Cement and ACC Limited shares increased by more than 2% and closed at ₹354.90.