According to Forbes’ Real-Time Billionaire calculations, Indian businessman Gautam Adani has become the richest person in Asia with a net worth of $90.1 billion. He has also become the 10th richest person in the world. Adani narrowly surpassed the head of Reliance Industries Mukesh Ambani, worth just $100 million less at $90 billion, according to Forbes data.
Adani group has six listed companies in the country, and the businessman's net worth doubled from $50.5 billion in April 2021.
The billionaire group includes a bunch of businesses ranging from power generation and transmission to edible oil to real estate and coal.
Mr Adani also surpassed Mark Zuckerberg, whose company 'Meta Platforms Inc' - Facebook's parent company witnessed a crash of about $230 billion from the social media networking giant's market capitalization in a single day today. This single-day loss in the market capitalisation of Meta Platforms Inc is more than the total value of India's largest company.
"Facebook Meta market value dropped $240 bn (18 lakh crores) in a day. That is more than the total value of India's largest company. It highlights the fragility and fickleness of our times. Welcome to the never normal world!," Uday Kotak, CEO, Kotak Mahindra Bank, tweeted.
His one-day wealth decline is among the biggest ever and comes after Tesla Inc top boss Elon Musk's $35-billion single-day paper loss in November. Musk, the world's richest person, had then polled Twitter users if he should sell 10 percent of his stake in the electric carmaker. Tesla shares have yet to recover from the resulting selloff.
Forbes' data also suggested that Mukesh Ambani's net worth fell by $2.2 billion in a day, bringing his net worth down to $89 billion. The current world's richest, Elon Musk's net worth declined by $3.3 billion in a day, yet he redeemed his no.1 spot on the world scale for the richest.