Founder and chairman of the Adani Group, Gautam Adani, today once again replaced Reliance Industries Limited (RIL) chairman Mukesh Ambani as the richest person in India and all of Asia.

According to the Bloomberg Billionaires Index, Adani’s current net worth is USD 111 billion, while Ambani’s stands at USD 109 billion. Although the gap between their net worths is merely USD 2 billion, Adani’s wealth is increasing rapidly due to a surge in the stock of his group companies.

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

Gautam Adani’s net worth saw a jump of USD 5 billion today as Adani Group stock surged following exit polls for the recently conducted Lok Sabha elections.

The stock of key Adani Portfolio companies surged nearly 10 percent on Monday as soon as the markets opened, becoming among the top gainers.

Last week, Adani Ports signed a 30-year concession pact with the Tanzania Ports Authority to operate and manage Container Terminal 2 (CT2) at the Dar es Salaam Port in the eastern African country.

The Adani Portfolio of companies has delivered strong and consistent growth in FY24 and the past five years, which signifies the strength and stability of its businesses, the company said on Sunday.

In FY24, the Adani Portfolio of companies delivered a record EBITDA growth of 45 percent year on year, reaching Rs 82,917 crore (approximately USD 10 billion), the highest in the history of the Adani Portfolio.

Top five richest persons in India

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

It remains to be seen whether a tug of war will take place between Adani and Ambani for the title of India’s richest person. Although current trends suggest Adani’s net worth will continue to surge and the gap with Mukesh Ambani’s will increase, nothing is certain as these valuations change quickly.