What is Gautam Adani’s net worth?

Gautam Adani, the billionaire businessman and chairman of conglomerate Adani Group has become the richest person in Asia, beating Reliance Industries Ltd’s Mukesh Ambani, according to the latest tally of Bloomberg Billionaires Index. Gautam Adani, who currently ranks among the world’s top ten wealthiest people, has a net worth of $88.5 billion, which is around $600 million more than Mukesh Ambani’s net worth.

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Gautam Adani’s fortune has climbed by around $12 billion year to date, whereas Mukesh Ambani’s wealth has decreased by roughly $2.07 billion year to date. Mukesh Ambani is presently the second richest person in India and Asia, as well as the eleventh richest person in the world, according to Bloomberg’s list of the world’s top 500 richest individuals. Ambani’s overall net worth as of February 8 is $87.9 billion.

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Mukesh Ambani was named the wealthiest person in India and Asia in November of last year, with Gautam Adani behind him by around $2.2 billion. Reliance Industries share price has climbed by approximately 18.50% in the last year. Adani Enterprises Ltd, on the other hand, has increased by more than 170% in the previous year.

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Gautam Adani has invested in a variety of rapidly developing industries, including renewable and other green energy initiatives. Some Adani-owned companies, such as Adani Total Gas Ltd and Adani Transmission Ltd, outperformed others in the previous year, with the former increasing by approximately 370% and the latter increasing by 250%. Adani’s FMCG business Adani Wilmar, which debuted on the benchmark indices on Tuesday, was listed at a 4% discount in a sluggish launch.

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“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,” Deepak Jasani, head of retail research at brokerage firm HDFC Securities Ltd told Bloomberg News. “The sectors are capital-intensive and the company has faced little difficulty in raising funds to expand,” he added.

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Both billionaires, who made their fortunes in the oil and fossil-fuel industries, have invested in a renewable energy push. According to Bloomberg, Adani has pledged to invest $70 billion this decade to support his firm, while Ambani has committed $10 billion over the next three years as part of a broader $76 billion renewables expenditure plan.