Gautam Adani overtakes China's Zong Shanshan to become Asia's 2nd wealthiest
- As per the Bloomberg Billionaires Index, Ambani is the 13th richest person in the world, followed by Adani at 14th.
Billionaire Gautam Adani's net worth has soared past China’s Zong Shanshan to make Adani the second richest person in Asia, according to the Bloomberg Billionaires Index. Reliance Industries' chairman and India's wealthiest man Mukesh Ambani in February overtook Shanshan to be the richest person in Asia.
As per the Bloomberg Billionaires Index, Ambani is the 13th richest person in the world, followed by Adani at 14th. Chinese billionaire Shanshan is now the 15th richest person after both the Indian billionaires' wealth rallied past his wealth.
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Adani's net worth stands at $66.5 billion in contrast to Shanshan's at $63.6 billion. Adani's wealth has massively increased this year and seen a rise of $32.7 billion, according to the Bloomberg Billionaires Index. The net worth of Asia's richest person Mukesh Ambani stands at $76.5 billion. However, his total wealth has declined by $175.5 million, the index showed.
The Chinese businessman was the sixth-richest person at the beginning of this year. He was the wealthiest in his country with a net worth of $63.6 billion after the listing of two of his companies.
Started as a commodity trader, Gautam Adani now owns companies across segments like energy, resources, ports, logistics, agribusiness, real estate, financial services, gas distribution, defence businesses, airports and many others.
The second richest person in India on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in the country for a deal valued at $3.5 billion, to become the world's largest solar company, according to a PTI report.
The renewable energy unit of the Adani Group, Adani Green Energy Ltd said it has signed share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. The transaction is reported to be India's largest acquisition in the renewable energy sector.
The rise in the net worth of Adani comes in the background of rallying share prices of Adani Green, Adani Enterprises, Adani Gas and Adani Transmission. There has been a 1,145 per cent increase in Adani Total Gas' stock since last year, shares of Adani Enterprises and Adani Transmission have climbed 827 per cent and 617 per cent respectively. Adani Green Energy and Adani Power gained 433 per cent and 189 per cent respectively during the same period, reported Mint.