Gautam Adani Gautam Adani overtakes Mukesh Ambani to become Asia's richest person
Mumbai/IBNS: Billionaire businessman Gautam Adani overtook his closest competitor in the Indian market, Mukesh Ambani, to become Asia's richest person, media reports said.
Adani, the founder and chairman of conglomerate Adani Group, outperformed Reliance Industries Ltd's Mukesh Ambani, the latest tally of Bloomberg Billionaires Index states.
Adani, who is one of the top 10 richest people in the world, has a net worth of $88.5 billion, which is $600 million more than Ambani's net worth.
Though 2020 was Ambani's year, Adani improved his wealth over the last three years gaining control of several airports in India and close to a quarter of India's air traffic.
Deepak Jasani, head of retail research at Mumbai-based brokerage HDFC Securities Ltd, told Bloomberg, "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."
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