Asia | Adani | Ambani | 30th November 2021 | Virtual Wire
Picture -The Hindu
With the rises of more than 1800 per cent, billionaire Gautam Adani's net worth soared to $91 billion in the last 20 months whereas before the pandemic took place it was said to be $4.9 billion.
The chairman of Adani Groups, Gautam Adani is said to have successfully dethroned Reliance Industries Limited chairman Mukesh Ambani to bag the tag of Asia's richest person. Earlier in May 2021, Adani became Asia's second-richest person leaving behind Chinese billionaire Zong Shanshan and since then there had been a close rivalry between Adani and Ambani for the No.1 spot. And now according to some media reports Adani this week successfully overtook Ambani.
Adani gained/added a whopping $55 billion to his income in the year 2021 whereas for Ambani it stood up to be $14 billion. Reliance share recently fell drastically due to the fall of their deal with Saudi Aramco regarding the stake in Reliance O2C (oil-to-chemicals) which further resulted in 1.4% loss in Reliance share; Where on the other hand Adani added Rs 12000 crore i.e 2.6% gain in Adani Groups share which helped Adani to surpass Ambani.
Picture -Financial Times
Although many say that this huge spike in Adani's income over all these years is because he shares good terms with Prime Minister Modi but Adani has always refused such accusations. Adani the known PM Modi since the days when Modi used to serve as Gujarat's Chief Minister. He has also been seen backing Modi government at times.
Rahul Gandhi had also accused Adani of getting support from the ruling government. Adani has business in energy, defence, and real estate fields and he also owns India's largest commercial port. Overall in World Richest Persons Ranking both Adani and Ambani stand in 12th and 13th positions respectively.