Mukesh Ambani no longer India's richest man, title snatched by...

Gautam Adani, Chairperson of the Adani Group of companies overtakes Mukesh Ambani, Reliance Industries chairman to become India's richest man, as per Bloomberg Billionaire's Index. 

Adani's wealth has risen to the top 12 globally, although Ambani is only one spot lower at number 13. Compared to last year, both have risen in rank. The fortune of Gautam Adani increased significantly. Then he snatched Mukesh Ambani's Asia's richest man title. 

Adani's net worth increased by 13.3 billion dollars (about Rs 11,07,42,84,90,000) of which, just on Thursday, his wealth rose by $7.67 billion. Adani's overall net worth rose to $97.6 billion following this while Mukesh Ambani's net worth is $97.2 Billion. 

This good news came after the Supreme Court's verdict was in favour of Adani in the Adani vs Hindenburg controversy. The Adani Group's stock fell precipitously last year following the release of the Hindenburg report.

However, since the Supreme Court's ruling in this case, shares of practically every company in the group have increased significantly. In 2023, Gautam Adani emerged as the biggest loser. Nevertheless, he emerged as the biggest gainer at the start of this year. 

The main source of Gautam Adani's fortune is his ownership of six publicly traded businesses connected to the conglomerate he founded, the Adani Group.