Indian businessman Gautam Adani has surpassed Chinese language billionaire Zong Shanshan to turn out to be Asia’s second richest particular person, in line with the Bloomberg Billionaires Index. In line with the index, the Adani Group’s internet value is $66.5 billion, whereas Zhong Shanshan’s is $63.6 billion. When it comes to essentially the most wealth owned by an individual in Asia, Adani now trails behind solely his Indian competitor and Reliance Industries Restricted (RIL) Chairman Mukesh Ambani.
Ambani surpassed Shanshan to turn out to be Asia’s richest particular person in February of this yr. The chairman of RIL additionally ranks first amongst India’s wealthiest individuals.
Shanshan, the founder and chairman of Nongfu Spring and the bulk proprietor of Beijing Wantai Organic Pharmacy Enterprise, was as soon as the world’s sixth richest man. Nonetheless, in latest months his internet value has plummeted.
At the moment, Ambani and Adani are positioned on the thirteenth and 14th place, respectively, within the world billionaires’ listing of Bloomberg. Whereas Adani’s internet value has climbed by $32.7 billion prior to now yr, Ambani’s wealth has marginally decreased by $175.5 million, as per the index. The online value of Ambani stood at $76.5 billion.
The rise in Adani’s wealth, regardless of the onset of COVID-19 pandemic, is essentially attributed to the surge in share costs of Adani Inexperienced, Adani Enterprises, Adani Fuel and Adani Transmission.
The shares of Adani Transmission and Adani Enterprises have climbed by 617 p.c and 827 p.c in final one yr, respectively, whereas, Adani Complete Fuel rallied 1,145 p.c in the identical interval, in line with Reside Mint report.
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