Gautam Adani Tops Mukesh Ambani as Asia’s Richest

Gautam Adani has overtaken Mukesh Ambani to become Asia’s richest person, boosted by a sustained rally in the shares of his conglomerate, which spans ports and energy.

Adani’s net worth has climbed to $92.6 billion, surpassing Ambani’s $90.8 billion, according to the latest billionaire rankings.

Adani, the founder of the Adani Group, presides over India’s largest private seaport network. His group is also the country’s largest renewable energy producer and a private airport operator, and ranks among the world’s largest coal traders.

He currently holds the No. 19 spot on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 wealthiest individuals.

The majority of Adani’s wealth comes from his shareholdings across the group’s 10 listed companies. A recent surge in Adani Group stocks has added billions in market value, reflecting strong investor interest in assets tied to India’s economic expansion and energy transition.

In contrast, Ambani’s wealth, primarily tied to Reliance Industries, which has holdings in energy, telecom, and retail, has experienced more modest gains, leading to a reshuffling of the billionaire rankings in the region.

Currently topping the billionaire ranking is Elon Musk, the chief executive of Tesla and rocket manufacturer SpaceX, with a net worth of $656 billion, more than double that of his closest rival, Larry Page. Page, the co-founder of Alphabet, the holding company for Google, is worth USD 286 billion.

Jeff Bezos, the founder of Amazon, is ranked No. 3 with a net worth of $269 billion.

Adani and Ambani are the only Indians within the top 50.

Ambani had been India’s richest person for over a decade before Adani’s rise in company stock prices propelled him to the top spot in February 2022.

However, Adani group’s stock tumbled following a report by US short seller Hindenburg, which led to the Adani group losing $100 billion in market value. This resulted in Ambani regaining the top position.

In mid-2024, Adani again surpassed Ambani, largely due to the surge in Adani stocks driven by infrastructure expansion and the energy transition narrative. Ambani briefly regained the top spot in mid-2025 before Adani again overtook him this month.

The Adani Group has built a diversified portfolio that includes transport and logistics, integrated energy infrastructure across generation, transmission, and distribution, as well as interests in natural resources, airports, defense and aerospace, data centers, cement, media, roads, rail and metro networks, real estate, urban redevelopment, food and FMCG, digital platforms, and business incubation.

According to the group, Gautam Adani is India’s first first-generation entrepreneur to lead a business empire to a market capitalisation exceeding $200 billion.