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India’s Gautam Adani unseats Mukesh Ambani as Asia’s richest billionaire

The 59-year-old founder of Adani Group controls companies ranging from ports and aerospace to thermal energy and coal, and now has a net worth of $88.5 billion, according to the Bloomberg Billionaires Index.
The pandemic pushed nearly 100 million people in poverty. They're struggling to escape
Like other billionaires around the world, Adani has seen his wealth skyrocket during the pandemic. He was worth less than $40 billion at this time last year. With this massive spike, he has overtaken India’s energy-to-tech entrepreneur Mukesh Ambani, to become the world’s 10th richest person.

Adani Group has performed exceptionally well on the Indian stock market during the pandemic. Shares of Adani Enterprises have jumped more than 1,000% on the National Stock Exchange in Mumbai since June 2020, a sign that investors are optimistic about Adani’s ability to bet on sectors such as infrastructure and renewable energy, which are key to Prime Minister Narendra Modi’s economic…

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