Businessman Gautam Adani has overtaken fellow Gujarat business czar Mukesh Ambani to become Asia’s richest person, as a sustained rise in the shares of his port-to-energy conglomerate raises his net worth.
With a net worth of $92.6 billion, he surpassed Adani Ambani, who is worth $90.8 billion, to become the richest person in India and Asia, according to the latest billionaire rankings.
Adani, founder of his eponymous group, oversees India’s largest private seaport network, is the country’s largest renewable energy producer and private airport operator, and ranks among the world’s largest coal traders.
He is currently ranked No. 19 on the Bloomberg Billionaires Index, which tracks the world’s 500 richest individuals and is updated daily.
Adani’s wealth is largely derived from his stakes in the group’s 10 listed companies. The recent surge in Adani Group shares has added billions of dollars to its market capitalization, underscoring strong investor appetite for assets linked to India’s economic expansion and energy transition.
By contrast, Ambani’s wealth, which is anchored by his flagship Reliance Industries conglomerate that operates in energy, telecommunications and retail, saw relatively modest gains, revising the region’s billionaire rankings.
The billionaires’ ranking is topped by Elon Musk, CEO of Tesla – the world’s most valuable automaker – and rocket manufacturer SpaceX. His net worth is $656 billion, more than double his closest competitor, Larry Page. Page, co-founder of Alphabet, Google’s holding company, is worth $286 billion.
Jeff Bezos, founder of Amazon, ranks third with a net worth of $269 billion.
Adani and Ambani are the only two Indians in the top 50 list.
Ambani had consistently been India’s richest man for more than a decade before Adani’s stunning gains in the company’s share prices propelled him to first place in February 2022.
However, his group’s shares fell in the wake of a damning report by US short-seller Hindenburg that saw Adani Group lose $100 billion in market capitalization at the lowest point. This brought Ambani back to the top.
In mid-2024, Adani overtook Ambani again. This is largely due to Adani shares rising on account of infrastructure expansion and energy transition narrative. Ambani again took the top spot in mid-2025 before losing it again this month.
The Adani Group has built a diversified portfolio that includes transportation and logistics, integrated energy infrastructure across generation, transmission and distribution, as well as interests in natural resources, airports, defence, aerospace, data centres, cement, media, roads, rail and metro networks, real estate, urban redevelopment, food, FMCG, digital platforms and business incubators.
According to the group, Gautam Adani is India’s first first-generation entrepreneur leading a business empire with a market capitalization exceeding $200 billion.
