Amazon Quiz (June 16, 2022): According to Forbes Real time billionaire list, whom did Mukesh Ambani replace to become India’s richest man again?
Azim Premji
Gautam Adani
Sachin Bansal
Binny Bansal
Answer: Gautam Adani
Mukesh Ambani in early June 2022 overtook Gautam Adani to become India’s and Asia’s richest man, according to the Forbes real-time billionaires list.
As of June 3, 2022, Ambani’s net worth stood at a whopping $99.7 billion, making the 65-year-old the eighth richest person in the world. Adani’s net worth, in comparison, stood at $98.7 billion, marginally lower than Ambani’s, making the Gujarati business magnate the ninth richest person in the world.
Ambani’s fortunes in June soared by $3.59 billion to take him ahead of Adani, driven by a 22.5% rise in the March quarter net profits of Reliance Industries Limited (RIL), which, in turn, was driven by growth in the conglomerate’s retail business, growth in its digital and telecom business, and its high oil refining margins.
Ambani is also tapping into the green energy sector, something that could bring him significant gains in the years to come: according to Outlook, RIL is investing $80 billion over the next 10-15 years in the renewable energy sector, something that could yield considerable dividends, given the global push towards greater use of renewables.
In comparison, Adani’s net worth increased by $2.96 billion in the same period. Adani had, in February 2022, overtook Ambani to become Asia’s richest person on the back of increases to his personal wealth.
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