Guwahati: The chairman and managing director of Reliance Industries Limited (RIL), Mukesh Ambani has reclaimed the title of richest Asian, surpassing fellow countryman Gautam Adani, according to the Bloomberg Billionaires Index.
According to Bloomberg’s list of the world’s wealthiest individuals, the Adani Group chairman’s riches has taken a hit after a significant decrease in the valuation of his group enterprises’ shares over the last few weeks bringing his net worth down to $98.7 billion.
Ambani is ranked eighth on this exclusive list, while Adani has dropped from fourth to ninth place in just a few weeks.
Meanwhile, Tesla CEO Elon Musk remains at the top of the list with a net worth of $227 billion, followed by Amazon CEO Jeff Bezos ($149 billion), LVMH CEO Bernard Arnoult ($138 billion), and Microsoft co-founder Bill Gates ($124 billion). With a net worth of $114 billion, Warren Buffett, the famed investor, is rated fifth.
Adani moved to fourth spot on the Bloomberg list in late April, along with Bill Gates. The 59-year-old founder of the Adani Group is in control of a variety of enterprises, including ports and aerospace, as well as thermal energy and coal.
Over the previous six months, Adani and Ambani have been swapping positions for the top spot in the billionaire index.
Reliance Industries which hold the world’s largest oil refining complex is owned by Ambani who is now the richest Asian. A countrywide 4G wireless network in India is one of his other endeavours.
It may be mentioned that numerous Adani Group shares have taken a hit this week as investors adjusted their holdings to reflect changes in the MSCI India Index’s composition and weightings.