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BUSINESS EYE FEBRUARY 18, 2022 | The Indian Eye 42

rIcHest In asIa:

mukesh ambani and

Gautam adani fight for top slot

As Facebook founder Mark Zuckerberg lost nearly $31 billion in his net worth, Mukesh Ambani

and Gautam Adani moved ahead of him in the world’s rich list

OUR BUREAU

Mumbai
autam Adani overtook
Mukesh Ambani on Tuesday
Gto become the wealthiest per-
son in Asia, according to Bloomberg’s
list of the world’s richest people. The
59-year-old founder of Adani Group
controls companies ranging from
ports and aerospace to thermal ener-
gy and coal, and now has a net worth
of $88.5 billion, according to the
Bloomberg Billionaires Index.
But Reliance Industries chair-
man Mukesh Ambani on Wednesday
regained the richest Asian tag, a day
after billionaire Gautam Adani had
surpassed him for the top spot. As
per the global ranking of billionaires
given by Bloomberg, with a total net Gautam Adani Mukesh Ambani
worth of $89.2 billion, Ambani is
placed at the 10th spot, while Adani
dropped 1 place to the 11th. ni and Adani are also the two richest Prime Minister Narendra Modi’s eco- Adani Group listed its seventh com-
In the last few months, Adani people in Asia. nomic development goals. pany and this portfolio is valued at
and Ambani have been swapping po- The Meta stock crashed after the Ambani, who controls Reliance over $153 billion. Adani Wilmar that
sitions for the top spot on the billion- company said that technology ma- Industries, is now in the Bloomberg was valued at close to Rs 35,000 crore
aires’ rankings. jor Apple’s new data-sharing policy index’s 11th spot with a net worth of is better known for Fortune brand of
The mega market hammering for all its devices made it difficult for $87.9 billion. edible oil and other edible items such
suffered by Facebook parent Meta on Facebook to mine and use the data for Meanwhile, shares of the FMCG as rice, pulses, wheat flour and sugar.
Thursday-- it recorded its worst-ever expanding its businesses. major Adani Wilmar was listed on the It’s initial public offer of Rs 3600
26% crash and suffered a $230-bil- Like other billionaires around the bourses with impressive gain amidst crore was oversubscribed by 18 times
lion erosion in market capitalization world, Adani has seen his wealth sky- volatile indices. Offered at Rs 230, with strong interest from long term in-
-- had a silver lining for the two richest rocket during the pandemic. He was Adani Wilmar closed at Rs 268.25 on vestors like GiC, HDFC, Birla and Nip-
Indians. As Facebook founder Mark worth less than $40 billion at this time NSE with the gain of 16.63 per cent, pon Mutual funds. The funds will be
Zuckerberg lost nearly $31 billion in last year. With this massive spike, he on Tuesday. used for setting up new plants, repaying
net worth, Mukesh Ambani and Gau- has overtaken India’s energy-to-tech The share price witnessed an in- debt and making strategic acquisitions.
tam Adani moved ahead of him in the entrepreneur Mukesh Ambani, to be- traday high of Rs 271.25 and low of Adani Wilmar, over two decades
world’s rich list, Forbes data showed. come the world’s 10th richest person. Rs 227. Investors’ interest in Adani old 50:50 JV, enjoys highest 18 per
On Thursday, Forbes Real Time Adani Group has performed ex- Wilmar was evident from the high vol- cent market share in India’s cooking
Billionaire Index put the total net ceptionally well on the Indian stock ume of the debutant scrip despite the oil business. It also has a significant
worth of Adani at $91.1 billion, and market during the pandemic. Shares volatility in the market. Over 13.50 presence in industrial segments with
that of Ambani at $89.2 billion. In of Adani Enterprises have jumped crore equity shares of Adani Wilmar market leadership in few other prod-
comparison Zuckerberg was at $82.9 more than 1,000% on the National were traded on NSE and close to 75 uct categories. Adani Wilmar diversi-
billion. According to data from Stock Exchange in Mumbai since lakh shares on the BSE. On Tuesday, fied into the food business three years
Bloomberg, however, Zuckerberg June 2020, a sign that investors are Nifty 50 closed with gain of 0.31 per back and it is growing at 25 per cent
was ahead of the two Indians at $89.6 optimistic about Adani’s ability to bet cent at 17,266 after touching the day’s CAGR. The company is planning to
billion, while Ambani was at $89.2 bil- on sectors such as infrastructure and low at 17,043.65. strengthen its FMCG portfolio with
lion and Adani at $87.4 billion. Amba- renewable energy, which are key to With this Gautam Adani led new product offerings in near future.

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