Gautam Adani has once again claimed position of Asia’s richest individual by overtaking Mukesh Ambani, the chairman of Reliance Industries, on Bloomberg Billionaires Index. Adani Group chairman currently ranks 11th on the index with a net worth of $111 billion, surpassing Ambani’s $109 billion.
According to Bloomberg’s index, Bernard Arnault is currently the world’s wealthiest person with a net worth of $207 billion. He is followed by Tesla’s Elon Musk with $203 billion, and Amazon’s Jeff Bezos with $199 billion.
One of the key driving factors behind this is the surge in Adani stocks. On Friday, all shares of Adani Group companies surged after a Jefferies reports spotlighted the group’s ambitious expansion plans, including $90 billion in capital expenditure over the next decade.
The market responded in favour of investors of Adani Group stocks, as their wealth grew by Rs. 1.23 lakh crore, hence raising the total market capitalization to Rs. 17.94 lakh crore during intraday trading.
