Race of Billionaires in India: Gautam Adani is now Asia's richest person as he surpasses Mukesh Ambani!

For the first time in several years, Reliance Industries Chairman Mukesh Ambani has lost his tag of the richest person in India and it is also for the first time that he has lost the rank of Asia's richest person to the fellow Indian Gautam Adani, the head of a coal empire whose projects had received sharp blows multiple times. 

According to reports, Gautam Adani has become Asia's richest person by surpassing Ambani after the green energy boosted his fortune to $88.5 billion. With the crucial tag, Adani has also entered the top ten of the world's richest people after his personal fortune has surged $12 billion last year and with the rise, Adani has surpassed Ambani in a margin of $600 million. Adani has also surpassed Facebook's Mark Zuckerberg in the top ten global list. 

Adani's wealth has increased by around $12 billion year-to-date while Ambani's wealth saw a YTD fall of about $2.07 billion. Ambani's total net worth currently stands at $87.9 billion while Adani's net worth stands at $88.5 billion. Last year in November, Mukesh Ambani was ranked the wealthiest person in India and Asia and Gautam Adani was trailing him by about $2.2 billion. 

With the surging fortune, Adani has entered the club of the top ten richest people in the world by surpassing Facebook's Mark Zuckerberg, who had slipped down the table last week after losing $30 billion of his personal fortune. Over years, Adani has stretched his roots in every business and his group controls Mudra, India's largest port and Adani also controls 74 per cent of Mumbai International Airport. 

Besides these two infrastructures, Adani's path into green energy has paid off after its share price has almost doubled in the past 12 months. Speaking to Bloomberg News, Deepak Jasani of HDFC Securities has said, "The Adani group has spotted and entered all the happening sectors at the right time, which has appealed to a select band of foreign portfolio investors."