India’s Gautam Adani has surpassed his fellow comrade Mukesh Ambani to become the richest person in Asia, as per Bloomberg’s list of the world’s most richest people.
The 59-year-old founder of Adani Group controls organizations going from ports and aviation to nuclear power and coal, and presently has a total assets of $88.5 billion, according to the Bloomberg Billionaires Index.
Adani has seen his wealth soar during the pandemic. He was worth under $40 billion a year ago. With this gigantic spike, he has overtaken India’s energy-to-tech business visionary Mukesh Ambani, to be the world’s 10th richest.
Adani Group has performed especially well on the Indian financial exchange during the pandemic. Shares of Adani Enterprises have jumpes over 1,000% on the National Stock Exchange in Mumbai since June 2020, a sign that investors are hopeful with regards to Adani’s capacity to wager on areas, for example, infrastructure and sustainable power, which are critical to Prime Minister Narendra Modi’s economic development goals.
Ambani, who controls Reliance Industries, is now in the Bloomberg index’s 11th spot with a net worth of $87.9 billion.
This wasn’t the only upheaval the billionaires ranking has seen recently. Last week, Meta (FB), the parent company of Facebook, saw a historic collapse on its stock market, which has wiped more than $30 billion off Mark Zuckerberg’s personal wealth. The CEO and co-founder of Meta now stands in 13th place on the Bloomberg Billionaires Index.