Gautam Adani Mukesh Ambani Net Worth Adani Group Chairman Becomes Asia's Richest Person | Gautam Adani overtakes Mukesh Ambani, becomes Asia's richest businessman | NewsBust Gautam Adani Mukesh Ambani Net Worth Adani Group Chairman Becomes Asia's Richest Person | Gautam Adani overtakes Mukesh Ambani, becomes Asia's richest businessman | NewsBust

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Gautam Adani Mukesh Ambani Net Worth Adani Group Chairman Becomes Asia’s Richest Person | Gautam Adani overtakes Mukesh Ambani, becomes Asia’s richest businessman

By Amit - November 24, 2021

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Adani Group Chairman Gautam Adani has become the richest businessman in Asia. He has left behind Mukesh Ambani. Gautam Adani has achieved this feat for the first time. However, Mukesh Ambani, the owner of Reliance Industries in the world, is at number 11 while Adani is the richest businessman at number 14.

news from Bloomberg

Although it was not known till the time of writing the news, how much Adani’s wealth is, but Bloomberg has been quoted as saying that Gautam Adani is now ahead of Mukesh Ambani in Asia. Till now Adani was at number two in Asia. Last week, Mukesh Ambani’s wealth was $ 91 billion while Adani’s was $ 88 billion.

Adani’s wealth increased by $ 55 billion this year

Gautam Adani’s wealth has increased by $ 55 billion since January this year. Whereas Mukesh Ambani’s wealth has increased by only $ 14.3 billion. Adani’s wealth was only $ 4.91 billion on 18 March 2020, but after April 2020 his wealth started rising. This is because the shares of their companies have increased by 5-6 times in 18 months. In these 18 months, his wealth has increased by 1808% to $ 83.89 billion. During this period, the wealth of Mukesh Ambani increased by 2.5 times to $ 91 billion.

Reliance shares fall as Saudi Aramco deal breaks down

In fact, Reliance’s shares have shown tremendous pressure due to the breakdown of Reliance’s deal with Saudi Aramco. Reliance’s stock has lost more than 12% in the last one week. Today Reliance’s stock fell 1.48% to Rs 2,350. Its market cap stood at Rs 14.91 lakh crore. On the other hand, there has been a steady rise in the shares of Adani’s companies.

Shares of Adani’s companies were broken in June

Adani’s shares had broken heavily after news of foreign investors’ investment in June broke. Shares of 6 companies of Adani were broken by 20 to 60%, but since October, these shares have gained a lot and they have now reached the high level of one year. On November 12, the market cap of Adani’s companies had reached close to Rs 10 lakh crore.

Market cap was 7.08 lakh crore on July 3

Due to the fall, the total market cap of the Adani Group had gone up to Rs 7.08 lakh crore on July 3. However, on June 11, the market cap of these companies was Rs 9.42 lakh crore. Now this figure is Rs 9.91 lakh crore. That is, there has been an increase of Rs 2.83 lakh crore in comparison to July. Because of this, Gautam Adani slipped to number 24 in the ranking of the world’s richest businessman in July. Since July, the shares of their companies started recovering again.

Net worth was $ 98 billion as of November 12

Mukesh Ambani’s net worth was $ 98.8 billion on 12 November. Adani’s net worth had come down to $63.5 billion in July due to the fall in share prices. On November 12, his net worth had grown to $84 billion. Adani’s seventh company has applied for IPO with SEBI. It is expected to get approval by this month. Adani Wilmar is a FMCG sector company. Adani’s net worth will increase further after its listing.

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Amit