Adani vs Ambani: Wealth of Asia’s wealthiest explained

Indian billionaire Gautam Adani is in the third position on Forbes’ real-time billionaires’ list hours after he had surpassed Louis Vitton’s Bernard Arnault to take the second spot. The 60-year-old’s net worth is $152.3 billion, as per Forbes’ real-time list.

The top spot in the list has been taken by Elon Musk with a net worth of $273.5 billion. Amazon founder Jeff Bezos is fourth with $149.7 billion. The other Indian apart from Adani who is on one of the top 10 spots is Reliance Industries Ltd head Mukesh Ambani. 

Also Read | Adani back at No 3 after briefly surpassing Arnault for second spot on rich list

Ambani is at the eighth spot with a net worth of $92 billion.

Adani’s real-time net worth surged after Adani Group stocks Adani Enterprises, Adani Port and Adani Transmission hit their record highs on the BSE in Friday’s early deals.

Gautam Adani’s wealth explained:

The Infrastructure tycoon controls Mundra Port, India’s largest, in his home state of Gujarat. He acquired a 74% stake in Mumbai International Airport, India’s second-busiest, in September 2020, making him currently the country’s biggest airport operator.

In May this year, Adani made a big entry into cement when he acquired Swiss giant Holcim’s cement business in India for $10.5 billion. He also wants to be the world’s largest producer of green energy. Adani said that he plans to invest upto $70 billion on renewable energy projects.

Adani also owns about 37% of Adani Total Gas, 65% of Adani Ports & Special Economic Zone and 61% of Adani Green Energy.

Also Read | Who is Gautam Adani?

Mukesh Ambani’s wealth explained:

A huge part of Mukesh Ambani’s income comes from the Oil and Gas Business. 

The Mumbai-based conglomerate’s other businesses include a 4G wireless network across India. His net worth rose up $20 billion over the last one year.

The Reliance Industries head also acquired a premium luxury hotel Mandarin Oriental in New York for $98 million in January this year. He owns a residential property worth more than $400 million and the Mumbai Indians cricket team.