Billionaire industrialist Gautam Adani has once again overtaken Mukesh Ambani to become Asia’s richest person, supported by a sustained rally in shares of his ports-to-energy conglomerate.
With a net worth of $92.6 billion, Adani has moved ahead of Ambani, whose wealth stands at $90.8 billion, according to the latest billionaire rankings. This development also reinstates Adani as both India’s and Asia’s richest individual, reports The Telegraph.
Adani, the founder of the Adani Group, controls India’s largest private seaport network, is the country’s biggest renewable energy producer and private airport operator, and is also 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 primarily derived from his holdings across the group’s 10 listed companies. The recent surge in Adani Group stocks has significantly increased market value, reflecting strong investor interest in businesses linked to India’s economic growth and energy transition.
By contrast, Ambani’s fortune, largely tied to Reliance Industries with interests in energy, telecom, and retail, has seen relatively modest growth, resulting in a reshuffle in regional billionaire rankings.
At the top of the global wealth list is Elon Musk, chief executive of Tesla — the world’s most valuable carmaker — and rocket manufacturer SpaceX. His net worth of $656 billion is more than twice that of his nearest rival Larry Page, co-founder of Alphabet, the parent company of Google, who is worth $286 billion. Jeff Bezos, founder of Amazon, ranks third with a net worth of $269 billion.
Adani and Ambani remain the only Indians among the top 50 richest individuals globally.
Ambani had held the position of India’s richest person for over a decade before Adani’s rapid rise in company stock prices first pushed him to the top spot in February 2022. However, Adani Group shares later declined following a report by US short seller Hindenburg Research, which erased nearly $100 billion in market value at its lowest point, allowing Ambani to regain the lead.
Adani once again surpassed Ambani in mid-2024, driven by a stock rally linked to infrastructure expansion and the energy transition narrative. Ambani reclaimed the top position in mid-2025 before losing it again this month.
The Adani Group has developed a diversified portfolio spanning transport and logistics, integrated energy infrastructure across generation, transmission and distribution, as well as interests in natural resources, airports, defence and aerospace, data centres, 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 build a business empire with a market capitalisation exceeding $200 billion.
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