September 26, 2022
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Since March, Gautam Adani’s Wealth Grew 44 Times Mukesh Ambani’s: Report

Gautam Adani and Mukesh Ambani were tied for first place on Forbes’ Real-Time Billionaires List at the beginning of the fiscal year. With a net worth of $90.7 billion, Reliance Chairman Mukesh Ambani was marginally wealthier than Adani in March 2022.

According to Forbes, Mukesh Ambani’s net worth has increased since then to $92.1 billion. Contrarily, Adani’s net wealth increased by $66 billion to a staggering $155 billion. According to Forbes’ Real-Time Billionaires List, Gautam Adani is presently the second-richest person in the world, only behind Elon Musk. Mukesh Ambani, the second-richest Indian, is listed ninth. He has a net worth that is 40% lower than Adani’s.

It’s the first time a person from Asia has ranked this highly in the wealth index’s upper tiers; up until now, US IT entrepreneurs have dominated the list. The Adani conglomerate’s diversification is what has fuelled its rapid ascent.

Adani’s company spent decades concentrating on industries like ports, coal mining, and shipping, which Ambani avoided due to its significant oil investments. But that has drastically changed during the last 12 months.

He has gradually begun to enter the petrochemicals, energy, and media industries, which are already dominated by Ambani’s Reliance.

Adani’s new ventures are mostly in their infancy, and experts believe it’s difficult to predict their full impact right once. However, it is anticipated that the rivalry between the two corporations will rule and possibly redefine India’s commercial environment.

Picture Courtesy: Google/images are subject to copyright

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