New Jersey: Indian businessman Gautam Adani the founder of Adani groups has a net worth of $90.1 billion making him the richest man in Asia and the 10th richest person in the world. According to the report given by The Forbes’ Real Time Billionaire calculations on Thursday. He is narrowly edging out Indian billionaire Mukesh Ambani the head of Reliance Industries, worth just $100 million less at $90 billion, Forbes estimates. Earlier Ambani was the richest Asian billionaire.
Its a striking rise for Adani Adani, age 59, a college dropout who started a commodity export firm in 1988. Back in 2008, he appeared on Forbes’ list of the World’s Billionaires worth $9.3 billion. His Adani Group includes a mix of businesses ranging from power generation and transmission to edible oil to real estate and coal. The group has six listed companies in India, the most valuable of which is Adani Green Energy Ltd, whose shares have soared by 77% in the past year.
Adani’s net worth has nearly doubled from $50.5 billion in April 2021 when Forbes released its annual World’s Billionaires list. During the same period, Ambani’s net worth grew by just 6.5% from $84.5 billion last April. Shares of Reliance Industries, which has oil, petrochemicals, retail and telecom businesses, fell 1.47% on Thursday and are down 2.3% so far in 2022.
However, it is important to note that Bloomberg Billionaires Index still shows Mukesh Ambani ahead of Gautam Adani, by a slight difference. As per the daily billionaire’s list compiled by Bloomberg, Ambani’s net worth stands at $89.2 billion while Adani’s net worth is at $87.4 billion.
Forbes’ Real-Time Billionaires rankings tracks the daily ups and downs of the world’s richest people. The wealth-tracking platform provides ongoing updates on the net worth and ranking of each individual confirmed by Forbes to be a billionaire. The value of individuals’ public holdings are updated every 5 minutes when respective stock markets are open (there will be a 15-minute delay for stock prices).
Meanwhile, in one of the biggest losses recorded, Meta (formerly Facebook) founder Mark Zuckerberg lost $29 billion in net worth on Thursday after Facebook’s parent company’s stock marked a record one-day plunge, while fellow billionaire Jeff Bezos was set to add $20 billion to his personal valuation after Amazon’s blockbuster earnings.
Meta’s stock fell 26 per cent, erasing more than $200 billion in the biggest ever single-day market value wipeout for a US company. That pulled down founder and Chief Executive Officer Zuckerberg’s net worth to $85 billion, according to Forbes.
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