Ambani again overtakes Adani to become richest in Asia

New Delhi: Mukesh Ambani once again overtook Gautam Adani to become Asia's richest person. The chairman and managing director of Reliance Industries (RIL) have displaced Adani from the eighth position in the list of the world's wealthiest individuals, NDTV reported, citing the Bloomberg Billionaire Index.

Ambani has registered a net worth of USD99.7 billion, while Adani, who moved to the ninth spot, has a net worth of USD98.7 billion, BBI stated.

BBI reported that while Adani registered a USD2.96 billion increase in net worth, Ambani registered USD3.59 billion in the last 24 hours. RIL shares rose three per cent, reaching ₹2,816.35 on the BSE (Bombay stock exchange) on Friday, while it rallied seven per cent in the past two trading days.

In a week, RIL's share surged 6.79 per cent, rising 16.61 per cent in 2022 and delivering 27 per cent returns in 2021.

The mentioned rally of the company's shares was due to the performance in March, reporting a 22.50 per cent year-on-year (YoY) increase in consolidated net profit, reaching ₹16,203 crore. Revenue out of that operation surged to 36.79 per cent year-on-year to ₹211,887 crores when it was ₹154,896 crore in the corresponding quarter last year.

The list of the world's richest is comfortably topped by Tesla and SpaceX founder Elon Musk while the second place is owned by Amazon's founder Jeff Bezos.