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Gautam Adani surpassed Mukesh Ambani, emerged as Asia’s richest man

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After the struggle of years Gautam Adani has clinched the first place  according to the Bloomberg Billionaires Index (BBI), and became India’s and Asia’s richest man.

According to the given ranks of billionaires Gautam Adani is on the top 12 in the world, Chairman and managing director of Reliance Industries Mukesh Ambani is just below on 13th rank. 

Both of them had spots last year with the same intensity. In December 2023, Adani in richest list was spotted on the 15th rank and at that time Ambani was at 14th a spot ahead of Adani.  

Net Worth of Billionaire: Adani

As per the sources, his estimated net worth is $97.6 billion, the founder of Adani Group is now Asia’s richest person and the richest Indian on Bloomberg’s list. He gained this more $7.67 billion to take first place. Last year in December, Adani’s net worth slid many spots due to imposed allegations by Hindenburg Research.   

In the beginning of 2023, Hindenburg Research, a New-York based investment firm, put an acquisition on Adani Group for prolonged stock manipulation and irregularities. Adani Group had refuted all the claimed  allegations by them. After these allegations, dwindles in their stock prices were observed which resulted in a decrease of 60 percent in Adani’s fortune, by up to $69 billion.     

Sources of business wealth:

Gautam Adani founded the Adani Group in 1988 and started as a commodity trading business. Adani group includes businesses for instance; sea and airport management, mining, electricity generation and transmission, natural gas, and food and infrastructure. Almost 60 percent of the revenue of the Adani Group is generated from coal-related businesses. 

Here is more information about their businesses:

Business of Adani Group is expanded in these segments. Please have a look at that to understand the strategies of the industrialists and how the market works. 

  • Fuel & Coal from Natural Resources
  • Solar Manufacturing
  • Defence and Aerospace
  • Airports and Sea Management: the Group owns a nation’s largest private port for coal trading.
  • Road and Rail Management
  • Development and Rehabilitation of sewage treatment plants
  • Edible Oils & Food.
Stocks of Adani Group are given below:

Adani Green Energy (56 percent); Adani Enterprises (73 percent); Adani Ports (66 percent); Adani Energy Solutions (73 percent); Adani Power (70 percent); Adani Transmission (68 percent); and Adani Total Gas (37 percent).

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