Indian businessman Gautam Adani has surpassed Chinese billionaire Zong Shanshan to become Asia’s second richest individual, according to the Bloomberg Billionaires Index. According to the index, the Adani Group’s net worth is $66.5 billion, while Zhong Shanshan’s is $63.6 billion. In terms of the most wealth owned by a person in Asia, Adani now trails
Indian businessman Gautam Adani has surpassed Chinese billionaire Zong Shanshan to become Asia’s second richest individual, according to the Bloomberg Billionaires Index. According to the index, the Adani Group’s net worth is $66.5 billion, while Zhong Shanshan’s is $63.6 billion. In terms of the most wealth owned by a person in Asia, Adani now trails behind only his Indian competitor and Reliance Industries Limited (RIL) Chairman Mukesh Ambani.
Ambani surpassed Shanshan to become Asia’s richest individual in February of this year. The chairman of RIL also ranks first among India’s wealthiest people.
Shanshan, the founder and chairman of Nongfu Spring and the majority owner of Beijing Wantai Biological Pharmacy Enterprise, was once the world’s sixth richest man. However, in recent months his net worth has plummeted.
Currently, Ambani and Adani are placed on the 13th and 14th position, respectively, in the global billionaires’ list of Bloomberg. While Adani’s net worth has climbed by $32.7 billion in the past year, Ambani’s wealth has marginally decreased by $175.5 million, as per the index. The net worth of Ambani stood at $76.5 billion.
The increase in Adani’s wealth, despite the onset of COVID-19 pandemic, is largely attributed to the surge in share prices of Adani Green, Adani Enterprises, Adani Gas and Adani Transmission.
The stocks of Adani Transmission and Adani Enterprises have climbed by 617 percent and 827 percent in last one year, respectively, whereas, Adani Total Gas rallied 1,145 percent in the same period, according to Live Mint report.
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