Reliance Industries chairman Mukesh Ambani is the richest man in India and Asia. Gautam Adani, the chairman of the indigenous industrialist Adani Group, succeeded him. According to Bloomberg's billionaire index as of Saturday (June 1) at 6 pm local time, the total wealth of this Indian billionaire is 111 billion US dollars.

According to NDV news, after almost 17 long months after overcoming the Hindenburg shock, the crown of India's richest man has once again risen on the head of Gautam Adani. Adani is now the richest man in India and Asia with assets of $111 billion. On the other hand, Mukesh Ambani's wealth stands at $109 billion.

Gautam Adani is the 11th richest person in the world with assets of $111 billion according to Bloomberg, which is the first among Asia and India. On the other hand, Mukesh Ambani is at the 12th position in this list. His assets amount to 109 billion dollars. He is currently the second richest man in India and Asia.

US investment firm Jefferies published a report on Adani Group on Friday. The report highlighted various business expansion plans of the Adani Group. The stock market responded to such news. As a result, 1.23 lakh crore rupees were added to the company's assets. Because of this, Gautam Adani has been able to surpass Mukesh Ambani.

The Hindenburg Report came out in January 2023 and the Adani Empire collapsed. This tycoon fell from the fourth place to the 30th place in the world's richest list. Although Gautam Adani has started the process of turning around after a big setback within a year.

The Gujarat-based Adani Group, originally associated with the port industry, has now branched out into various sectors. This month, the Adani Group has focused on investments in steel, renewable energy and other businesses.

Meanwhile, Ambani's Reliance is also going to invest heavily in Gujarat. The Reliance Group has signed a memorandum of understanding to invest a total of about six lakh crore rupees in Gujarat, the home state of Indian Prime Minister Narendra Modi. They want to build a 100 GW non-conventional power plant and hydrogen power generation system. Apart from this, Reliance will also invest a lot of money in building four factories including solar power, battery storage.