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Guatam Adani.

PHOTO BY ARCHIVE


Adani overtakes Ambani as richest man in Asia

Billionaire Gautam Adani has reclaimed the title as the richest man in Asia, unseating Mukesh Ambani in the top spot of the latest Bloomberg Billionaires Index.

Adani’s net worth rose $7.7 billion in a day to $97.6 billion, with Ambani trailing by a narrow margin with a net worth of $97 billion.

This came after the Indian Supreme Court gave Adani a reprieve into investigations after his conglomerate got embroiled in allegations of corporate fraud.

The case caused Adani Group to lose more than $150 billion in market value last year, but this week the Indian Supreme Court ordered the local market regulator to end its investigation into the conglomerate in three months, and said no more investigations were needed. This caused a $13.3 billion wealth gain for Adani.

Adani started as a diamond trader in the 1980s, and has diversified his business empire into coal trading, data centers, artificial intelligence, urban development, airports and media. ICA/Expat Media


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