Billionaire Gautam Adani overtakes Mukesh Ambani to become the richest person in Asia

Gautam Adani, with a net worth of $111 billion, has claimed the 11th spot as the richest person in the world, surpassing Mukesh Ambani, whose wealth of $109 billion now places him at No. 12. Following a bullish endorsement from U.S. brokerage Jefferies, shares of all Adani Group companies surged by up to 14%. The group is now aggressively expanding with a planned $90 billion capital expenditure over the next decade.

And now, after nearly five months, Adani has overtaken Ambani. In January 2024, Adani overtook Ambani after nearly twelve months but soon after conceded the top spot to Ambani. Now Adani has overtaken Ambani again. In 2024, Adani’s net worth has increased by $26.8 billion, while Ambani’s wealth has grown by $12.7 billion. Over the past 10 years, Adani’s wealth has surged from around $5 billion in 2014 to an astonishing $121 billion by the end of 2022. Briefly, in September 2022, he held the title of the world’s second-richest person.

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