Gautam Adani surpasses Mukesh Ambani to reclaim title of Asia's wealthiest individual, with a net worth of $111 billion

Billionaire Gautam Adani has surpassed Mukesh Ambani, the chairman of Reliance Industries, to reclaim the title of Asia's wealthiest person on the Bloomberg Billionaires Index. The chairman of the Adani Group is currently in the 11th position on the index with a total wealth of $111 billion, exceeding Ambani's $109 billion.

Adani has now surpassed Mukesh Ambani of Reliance Industries after close to 5 months. Ambani holds the 12th position with a total wealth of $109 billion. After the Hindenburg report last January, his conglomerate's shares plummeted, causing him to surpass Adani in net worth.

In 2024, Adani's wealth has surged by $26.8 billion, while Ambani's riches have risen by $12.7 billion.
 A couple of days back, Adani also shared his positive outlook on the group's future by stating that its greatest days lie ahead. He said the path ahead is filled with amazing opportunities, and assured that the Adani Group is now more powerful than ever.

In 2023, the Adani Group faced significant difficulties when the Supreme Court instructed a committee to investigate the accusations made in the Hindenburg report. Adani, previously ranked as the third wealthiest individual globally, dropped in position quickly following a sell-off of the group's stocks.
Later on, the Supreme Court directed the Securities and Exchanges Board of India (Sebi) to wrap up its inquiry into the Adani Group and indicated that further investigations were unnecessary. Sebi had stated that it was unable to conclude its investigation.

In 2023, the Adani Group faced difficulties following the Supreme Court's decision to investigate the accusations in the Hindenburg report. After the report, Adani's ranking quickly dropped due to a sell-off of the group's shares, despite being the third richest person in the world.

Nevertheless, the Supreme Court later mandated that the Securities and Exchanges Board of India (Sebi) complete its investigation into the Adani Group and deemed further probes unnecessary. Sebi had announced that it was unable to achieve a resolution in its investigation.

After the ruling, the Adani Group's stocks surged. In January, Adani surpassed Ambani after almost a year but Ambani reclaimed the lead later on. Adani has once again surpassed Ambani. 

According to the Bloomberg Billionaires Index, Bernard Arnault is the wealthiest individual globally, with a fortune amounting to $207 billion. Following closely behind are Elon Musk and Jeff Bezos, who have a combined wealth of $203 billion and $199 billion, respectively.