Founder and chairman of Adani Group, Gautam Adani acquired the spot of Asia’s richest man on Wednesday, replacing Reliance Industries Limited (RIL) chairman Mukesh Ambani for the first time in history. According to the reports, Adani’s net worth increased drastically since April 2020. On 18 March 2020, his net worth was USD 4.91 billion.
Currently, Adani Group operates a slew of companies including Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Transmission, Adani Total Gas, and Adani Power, among others.
In the last 20 months, especially after the onset of the pandemic, the net worth of Gautam Adani saw a spike of over 1808 percent i.e., a whopping USD 83.89 billion. In the same period, Mukesh Ambani’s net worth increased by 250 percent i.e., USD 54.7 billion. Earlier, the Bloomberg Billionaire Index had suggested that Adani’s current net worth is USD 88.8 billion which is just USD 2.2 billion less than the net worth of Reliance Industries Limited (RIL) chairman Mukesh Ambani.
On the other hand, Ambani’s net wealth has taken a slight hit after Reliance Industries scrapped the deal with Aramco, a Saudi Arabian public petroleum and natural gas company based in Dhahran.
However, the change of fortune was expected to happen anytime soon. According to Bloomberg Billionaire Index, Adani’s wealth had stood at $88.8 billion on Tuesday (November 23). On the other hand, Ambani’s net wealth stood at $91 billion.
Recently, Adani Transmission Limited (ATL), one of the group’s companies and India’s largest private sector power transmission and retail distribution company, won three awards at the Confederation of Indian Industry (CII)’s first-ever Operational Sustainability Conference-cum-Competition on November 11 this year.