Just a few days after Gautam Adani briefly surpassed Mukesh Ambani to become the richest Indian, the chairman and managing director of Reliance Industries Ltd, is now back on the top position, as of February 9. According to both Forbes Real-Time Billionaires List and Bloomberg Billionaires Index, Ambani has overtaken Adani as the richest person in India as well as Asia.
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Forbes’ Real-Time Billionaires List puts Mukesh Ambani’s net worth at $91.3 billion and ranks him as the 10th richest person in the world. Adani’s net worth is $90.6 billion and he is ranked the 11th richest.
According to Bloomberg Billionaires Index, Ambani’s net worth is $89.2 billion and ranked in 10th position, on the other hand, Adani is at 11th position with a net worth of $86.3 billion.
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Ambani earned $2.5 billion in the last change on the Forbes list and Adani lost $939 million. Bloomberg’s index shows Ambani gaining $1.33 billion and Adani losing $2.19 billion.
On February 4, Adani reached the tenth spot on the Forbes’ list after his net worth increased by $637 million to $91.1 billion. Ambani had fallen to the 11th spot after losing $794 million with a fortune of $89.2 billion.
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After Adani Wilmar made its debut on the stock exchanges on February 8 it made the Adani Group richer by at least $2 billion and led to the change in rankings. Adani Commodities and Lence Pte own 40% shares each in Adani Wilmar. Adani Commodities’ shares are owned by some of the key family members, including Gautam Adani’s wife Priti Gautam Adani, son Karan Adani and others.
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On Tuesday, the Ambani family’s total net worth was estimated to be around $108 billion (Rs 8.06 trillion) as compared to $92 billion (Rs 6.87 trillion) for the Adani family, according to Bloomberg.
The Adani family’s net worth is up 13.5% year-to-date in 2022 and has increased by 27.3% since September 2021. Ambani’s net worth is down around 0.5% since the beginning of the current calendar year and 5% below the record high of Rs 8.48 trillion at the end of September 2021.
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Reliance Industries has a market capitalization of around Rs 15.93 trillion, down from the Rs 16.02 trillion at the end of December 2021 and the record high of Rs 16.75 trillion at the end of September 2021.
The six listed Adani group companies, excluding Adani Wilmar, have a total market capitalisation of Rs 10.93 trillion, up from the Rs 9.62 trillion at the end of December 2021 and Rs 8.56 trillion at the end of September 2021.