$1 bn divides Mukesh Ambani, Gautam Adani in race for 'India's richest': Report
Mukesh Ambani, Gautam Adani: Bloomberg's billionaires index has both business tycoons in the top 10 global rankings.
Mukesh Ambani vs Gautam Adani - the battle to be India's richest man swung Ambani's way Friday by 'just' $1 billion. According to Bloomberg's Billionaires Index, as of June 3 the total net worth of Mukesh Ambani is $99.7 billion and the total net worth of Gautam Adani is $98.7 billion. The fortunes of both have increased significantly in the past 24 hours, with the Bloomberg Billionaire Index - which tracks each billionaire's net worth analysis based on close of every trading day in New York - noting a $3.59 billion increase for Mukesh Ambani and a $2.96 billion increase for Gautam Adani.
According to the Bloomberg Billionaire Index, Mukesh Ambani is the eighth richest man in the world and Gautam Adani is the ninth.
Mukesh Ambani is also the richest man in Asia and, by default, India.
Mukesh Ambani is also ahead in the Forbes Real-Time Billionaires List, which ranks him at No 6 in the world with $104.3 billion net worth.
Gautam Adani is No 9 with $100.3 billion.
Early last month Mukesh Ambani's Reliance Industries Ltd reported a 22.5 per cent rise in net profit for the quarter ended March - this was on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business.
For the full fiscal 2021-22 (April 2021 to March 2022), Reliance reported a net profit of ₹60,705 crore on a revenue of ₹7.92 lakh crore ($102 billion) to become the first Indian company to have crossed $100 billion revenue in a year.
READ: Reliance is first Indian company to cross USD 100 billion annual revenue
Adani, meanwhile, acquired a controlling stake in Holcim AG's India cement businesses in a $10.5 billion deal to become India's second largest producer.
READ: Adani is India's second-biggest cement maker with $10.5 bn Holcim deal
Also, Adani Wilmar Ltd. - a joint venture between Adani and Singapore's Wilmar International Ltd. - outperformed 121 Asian IPOs, or initial public offerings, worth over $100 million this year.
Gautam Adani and Mukesh Ambani's son, Anant Ambani, will attend an investors summit in Uttar Pradesh that will be headlined prime minister Narendra Modi, officials from the UP government were quoted by PTI.