India's Gautam Adani on Wednesday surpassed Mukesh Ambani to become the richest man in India and Asia. This year, the value of Gautam Adani's assets has increased by 55 55 billion, while Mukesh Ambani has managed to add only 14 14.3 billion to his fortune.
According to ABP News, Adani Group's shares rose in value on Wednesday while Mukesh Ambani's Reliance Group's shares fell. Shares of Reliance fell 1.48 per cent to Rs 2,350.90 on the Bombay Stock Exchange. The deficit sank Rs 22,000 crore to investors while Mukesh Ambani faced a shortfall of Rs 11,000 crore in his assets.
On Wednesday, Adani Group's gross market capitalization increased by Rs 12,000 crore and net market capitalization by Rs 4,250 crore, making Gautam Adani the richest man in India and Asia.
Although Adani Group is worth Rs 10 trillion and Reliance Group is worth Rs 14.91 trillion, Gautam Adani has more shares in his own company while Mukesh Ambani's Reliance Group does not have as many shares.
Prior to Wednesday's change, Mukesh Ambani was the richest man in India and Asia with 91 91 billion in assets, according to Bloomberg's Blainer Index, while Gautam Adani was second with 88 88.8 billion. But recent change has taken away his crown from Mukesh Ambani six years later.
It should be noted that Gautam Adani also belongs to the Indian state of Gujarat like Mukesh Ambani. He is the founder and chairman of Adani Group. His group is a multinational port development company headquartered in Ahmedabad, the capital of Gujarat.
