India’s Gautam Adani becomes Asia’s wealthiest man with $88.5 billion

RIYADH: The wealth of the Indian billionaire Gautam Adani reached $88.5 billion on Monday, making him Asia’s richest man, according to the Bloomberg Billionaires Index.

Adani has overtaken the CEO of Reliance Industries, Mukesh Ambani, who has a net worth estimated at $87.9 billion.

The 59-year-old has added $12 billion to his fortune, making him the world’s largest wealth-gainer this year.

 His wealth is derived from shares of Adani Group, the conglomerate he founded.

The share value of the energy company Adani Green Energy has gained over 44 percent this year, while those of the electric company Adani Transmission have increased over 15 percent.