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Mukesh Ambani Replaces Gautam Adani To Become Asia’s Richest Man

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Mumbai: Reliance Industries’ Mukesh Ambani has replaced Gautam Adani to become Asia’s richest man.

According to Bloomberg 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.

Ambani has been placed at the eighth position in this coveted list and Adani has slipped from fourth place a few weeks ago to the ninth position.

The top four spots remained unchanged, with Tesla boss Elon Musk sitting at the number one spot with a net worth of $227 billion, followed by Amazon’s Jeff Bezos at $149 billion, LVMH’s Bernard Arnault at $138 billion and Microsoft co-founder Bill Gates $124 billion. Ace investor Warren Buffett is placed in the fifth position with a net worth of $114 billion.

At the end of April this year, Adani jumped to number four on the Bloomberg list, tying up with Gates. The 59-year-old founder of the Adani Group controls companies ranging from ports and aerospace to thermal power and coal.

Over the past few months, Adani and Ambani have been swapping positions for the top spot in the billionaires’ index.

Ambani, who is also currently the richest Asian, controls Reliance Industries, the owner of the world’s largest oil refining complex. His other businesses include a 4G wireless network across India.

This week too, some Adani Group stocks have declined as investors adjusted their holdings to reflect the change in composition and weighting in the MSCI India index.

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