Mukesh Ambani reclaims ‘Asia’s richest’ tag, surpasses Gautam Adani

Businessman Mukesh Ambani has reclaimed his position as ‘Asia’s richest’ as Reliance Industries (RIL) shares continued to surge to trade on high levels in Friday’s trading session. He has surpassed Gautam Adani by ranking eighth Bloomberg Billionaires list, while the Adani Group founder scored the ninth rank.

According to the Bloomberg Billionaires Index, the Reliance Industries chairman and managing director, who has a net worth of $99.7 billion added $9.69 billion in 2022. In comparison, Adani’s net worth is $98.7 billion.

Earlier in February this year, Adani took over Ambani’s Asia’s richest spot and became world’s biggest wealth-gainer.

Meanwhile, according to Forbes real time billionaires list, Mukesh Ambani’s net worth has rose to $104.7 billion. On the other hand, Gautam Adani’s & Family has reported $100.1 billion standing right behind the Reliance Group.

Mukesh Ambani’s Reliance Industries gains interests in petrochemicals, oil and gas, telecom and retail. Almost 60% of Reliance’s revenue comes from the fuel retailing, telecommunications and technology.

The billionaire has profited immensely in global commodity prices triggered by Russia’s invasion of Ukraine. The company’s shares have gained about 16% in 2022 (YTD) so far as compared to a 5% fall in benchmark Sensex.

RIL has reported over 22 percent hike in its Q4FY22 profit at Rs 16,203 crore on due to the bumper oil refining margins, along with steady growth in telecom, digital services and retail business.

Also Read: Mukesh Ambani plans takeover bid for UK high street chain Boots

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