Indian billionaire Gautam Adani has surpassed Reliance Industries chairperson Mukesh Ambani to become Asia’s richest person. Adani’s net worth, according to a report by Bloomberg Billionaires Index, has jumped to USD 88.5 billion, surpassing Ambani’s USD 87.9 billion.
Adani is now among the top 10 wealthiest persons of the world. His wealth has increased by USD 12 billion years-to-date while Ambani’s wealth declined by nearly USD 2.07 billion year-to-date.
The Adani Group has performed exceptionally on the stock market since the beginning of the COVID-19 pandemic. Since June 2020, his stocks have jumped over 1,000 per cent on the National Stock Exchange (NSE).
Further, the shares of Adani Wilmar Ltd made a tepid market debut but soon recovered the lost ground to surge over 8 per cent against the issue price of Rs 230. The stock made its debut at Rs 221, a discount of 3.91 per cent from the issue price on the BSE. But, it recovered the lost ground soon and jumped 6.52 per cent to Rs 245.