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Gautam Adani is now Asia’s richest man, surpasses Mukesh Ambani

According to the Bloomberg Billionaires Index, Gautam Adani's net worth surpassed $88.5 billion on Monday, overtaking Mukesh Ambani's $87.9 billion.

According to the Bloomberg Billionaires Index, Gautam Adani’s net worth surpassed $88.5 billion on Monday, overtaking Mukesh Ambani’s $87.9 billion.

Adani, a college dropout, began his career in the diamond industry in Mumbai in the early 1980s before returning to Gujarat to assist run his brother’s plastics company. He founded Adani Enterprises in 1988. With an almost $12 billion jump in his personal fortune, Adani is the world’s biggest wealth-gainer this year.

“THE ADANI GROUP HAS SPOTTED AND ENTERED ALL THE HAPPENING SECTORS AT THE RIGHT TIME, WHICH HAS APPEALED TO A SELECT BAND OF FOREIGN PORTFOLIO INVESTORS,” SAID DEEPAK JASANI, HEAD OF RETAIL RESEARCH AT MUMBAI-BASED BROKERAGE HDFC SECURITIES LTD

Adani has taken control of seven airports and about a fifth of India’s air traffic in only three years. In the non-state sector, his company currently holds the country’s largest airport operator, power generator, and city gas merchant.

Adani has announced ambitions to nearly double his renewable-energy capacity by 2025 as part of his green drive. In May, Adani Green agreed to purchase SoftBank Group Corp.’s local renewable-energy company, giving SB Energy India a $3.5 billion enterprise value.

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