Adani may soon replace Mukesh Ambani as India’s richest person

Adani’s net worth is increasing rapidly due to a surge in his group companies’ stock.

Founder and chairman of Adani Group, Gautam Adani, may soon replace Reliance Industries Limited (RIL) chairman Mukesh Ambani as the richest person in India.

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Currently, Adani’s net worth is USD 75.8 billion, whereas Ambani’s stands at USD 95.6 billion. Although the gap between their net worth is USD 19.8 billion, Adani’s net worth is increasing rapidly due to a surge in his group companies’ stock.

Net worth of Adani increased drastically compared to Mukesh Ambani’s

Adani’s net worth has increased drastically since Monday following the report that the US government concluded that short-seller Hindenburg Research’s allegations of corporate fraud against the Indian billionaire weren’t relevant before extending his conglomerate as much as USD 553 million for a container terminal in Sri Lanka.

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Allegations in a scathing report by US-based Hindenburg Research, which erased around $100 billion from the group’s market value earlier this year, were front and center as the International Development Finance Corp., or DFC, conducted a due diligence investigation of the conglomerate, an official from the US agency told Bloomberg.

As per Forbes real-time billionaire list, today, his net worth increased by USD 15.7 billion, whereas the rise in Mukesh Ambani’s net worth was USD 1.7 billion.

If a similar surge continues, Adani will surpass Ambani as India’s richest person.

Top five richest persons in India

Ambani and Adani occupy the first and second positions, respectively, in the list of the top five richest persons in India. The others are as follows:

BillionaireNet worth (in USD)
Mukesh AmbaniUSD 95.6 B
Gautam AdaniUSD 75.8 B
Shiv NadarUSD 30.3 B
Savitri Jindal & familyUSD 27.8 B
Cyrus PoonawallaUSD 22.3 B
Source: Forbes

Although the current trends hint that Gautam Adani may surpass Mukesh Ambani to become the richest person in India and Asia, nothing is certain as these valuations change quickly.

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