A new record of richest man in Asia has been broken by Mukesh Ambani once again.
It has been reported that the Bloomberg Billionaires Index reveals that billionaire Gautam Adani has reclaimed the title of Asia’s richest man after he dethroned Reliance Industries chairman Mukesh Ambani last week.
In terms of net worth, Adani, the chairman of Adani Group, has a net worth of $111 billion as of 6pm on Saturday. Ambani, meanwhile, has a net worth of $109 billion as of 6pm on Saturday.
The impressive rise in the stock of the Adani Group was one of the major reasons why Adani was able to pass Ambani as the largest company in the world. There was a sharp rise in share prices across all Adani Group companies on Friday as a result of a Jefferies research report outlining the group’s ambitious expansion plans, which include spending $90 billion over the next ten years on capital projects as part of its expansion strategy.
Adani Group’s equity shares were well received by the market, as the market increased the wealth of investors by a whopping INR 1.23 lakh crore intraday and their market capitalisation rose to INR 17.94 lakh crore at the end of the day. At the end of the trading session, the market capitalisation of the company had reached INR 17.51 lakh crore after adding an additional INR 84,064 crore in value.
In contrast, Mukesh Ambani, one of the most influential men in the Indian subcontinent, has also become one of the most prominent men in all of Asia as a whole. As of right now, Anant Ambani and Radhika Merchant are getting ready for their second pre-wedding celebrations, and he is extremely busy with this.
Timenews1 published that news.
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