As the shares of Adani Group listed firms rose on Wednesday and with the fall of Reliance Industries shares, Gautam Adani has now overtaken Mukesh Ambani in the net worth game by surpassing him.
As we all know that for the past six years, the Ambani family was recognized as Asia’s richest clan. But, on November 24, 2021, everything turned after the shares of Adani Group rose and the businessman, Gautam Adani replaced Mukesh Ambani to become Asia’s richest man.
As per the latest reports, Gautam Adani’s net worth has grown drastically since April 2020. And reports were widespread that he might dethrone the Ambanis.
Currently, Adani Group manages a group of companies including Adani Enterprises, Adani Green Energy, Adani Ports & SEZ, Adani Transmission, Adani Total Gas, and Adani Power, among others. Adani added $55 billion to his wealth in 2021 compared to $14.3 billion added by Mukesh Ambani.
While, Mukesh Ambani, with a net worth of $91 billion, was ranked as Asia’s richest according to Bloomberg’s Billionaires Index, and Gautam Adani with a fortune of $88.8 billion was trailing Ambani by $2.2 billion.
With the increase in shares of Adani Group listed firms on Wednesday, November 24th, 2021, and the fall of Reliance Industries shares, Gautam Adani has overtaken Mukesh Ambani in the net worth game, at the time of writing this article.
With the fall of the $15-billion deal with Saudi Aramco to by 20 percent stake in Reliance’s oil-to-chemicals (O2C) business, Reliance shares continued to fall on Wednesday.
Reports also suggested that Reliance Industries shares fell another 1.48 percent on the BSE on Wednesday to close at Rs 2,350.9, wiping out Rs 22,000 crore of investors’ wealth and making Mukesh Ambani poorer by Rs 11,000 crore.
The market capitalization of Reliance on Wednesday was pegged at Rs 14.91 trillion, still India’s most valued firm. Reliance Industries Infrastructure, another listed company owned by Mukesh Ambani, fell by 1.57 percent to Rs 613.85, valuing it at Rs 9,26.91 crore.
While, the Adani Group firms added Rs 12,000 crore to their gross market capitalization and Rs 4,250 crore to their net market capitalization, making Gautam Adani Asia’s richest man from India. The shares of Adani Enterprises grew 2.76 percent to close at Rs 1754.65 in the market on Wednesday, valuing the company at Rs 192,798 crore.
Adani Port and SEZ shares gained 4.59 percent to close at Rs 762.75, valuing it at Rs 1,55,734.62 crore. Adani Power closed up marginally at Rs 105.95, valuing it at Rs 40,864.27 crore.
Shares of Adani Transmission fell 0.85 percent, Adani Green Energy fell 1.37 percent and Adani Total Gas dipped 1.58 percent to close at Rs 1924.45, Rs 1387.7, and Rs 1,648.35, respectively.
These numbers are taken from the reports and references from Internet News Agencies.
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