Indian Business Tycoon Gautam Adani Overtakes Mukesh Ambani as Asia's Richest Billionaire

The 59-year-old Indian industrialist and founder of Adani Group, Guatam Adani, is the owner of several companies, ranging from ports and aerospace to thermal energy. His net worth was less than $40 billion at this time last year.

India's coal mining magnate Gautam Adani has surpassed business tycoon Mukesh Ambani to become Asia’s richest personm entering Bloomberg's top 10 list of the world's richest people.

While Adani ranks in 10th with a net worth of $88.5 billion, Mukhesh Ambani, owner of the giant telecom network, Reliance Jio, holds 11th place with $87.9 billion.

Industrialist Azim Premji, who is the chairman of IT firm Wipro Limited, is the third Indian who made it to the list, ranking 38th with a $33.8 billion net worth.

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Among the mega-rich whom Adani has overtaken to reach the world's top 10 is Facebook founder Mark Zuckerberg, who slipped down to the 13th position last week due to his company's downfall in the stock market, facing a loss of $30 billion of his personal fortune.

Owing to his investment and expansion of his green energy projects, Adani's personal fortune saw a jump of almost $12 billion that pushed him to become top 10 richest people of this year.

His wealth skyrocketed as the company performed exceptionally well on the Indian stock market during the pandemic.

The Adani Group also controls India's biggest commercial Mundra Port in Gujarat state and owns a 74% stake in Mumbai city's Chhatrapati Shivaji Maharaj International Airport.

With an aim to become the world’s largest renewable-energy producer, Adani Group is in the process of ploughing $70 billion into green energy projects by 2030.