Gautam Adani, Chairman of the Adani Group, has overtaken Mukesh Ambani, Chairman of Reliance Industries, to become Asia’s wealthiest individual once again. This news comes according to the Bloomberg Billionaires Index as of June 2nd.
Gautam Adani currently holds the 11th spot globally with a net worth of $111 billion, while Ambani follows closely behind at 12th with $109 billion. This shift highlights the ever-changing landscape of wealth among the world’s elite.
Adani’s return to the top is attributed to a significant 14% surge in Adani Group’s shares on May 31st. This surge was fueled by a report from Jefferies, an investment bank, detailing the Group’s ambitious expansion plans.
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These plans include a staggering $90 billion investment over the next decade in various sectors like ports, energy, and infrastructure.
Back in 2023, Adani fell behind Ambani due to allegations of fraud against his Group. However, recent positive developments and strategic plans have propelled him back to the top spot in Asia.
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