Billionaire businessman Gautam Adani has overtaken Reliance Industries Chairman Mukesh Ambani, achieving the status of the richest Indian. Gautam Adani, now ranked 11th in the Bloomberg Billionaires Index, has also become Asia’s richest person, while Mukesh Ambani is at the 12th position in this list.

According to this index, the net worth of the Adani Group chairman was US $ 111 billion (about ₹ 9,26,159 crores) at 6 pm on Saturday, while Mukesh Ambani’s net worth was US $ 109 billion (about ₹ 9,09,471 crores). Adani has left Ambani behind due to the surge in the shares of the group’s companies.

On Friday, the last trading day of this week, the overall market cap of 10 companies of Gautam Adani’s group listed in the stock markets crossed about ₹ 18 lakh crore. According to the index, Reliance Industries Chairman Mukesh Ambani is currently the second richest industrialist in Asia.

Bernard Arnault of France is at the first place in the Bloomberg Billionaires Index, whose net worth is US $ 207 billion (about ₹ 17,27,161 crore). At the same time, Elon Musk is at the second position in the list with a net worth of US $ 203 billion (about ₹ 16,93,786 crore). Every person from second to 10th place in this index is an American citizen.

This week, Adani Group chairman Gautam Adani said in the annual report, “The challenges faced by the group in the past year have only strengthened the resolve of the group… The group has unlimited opportunities ahead and I can tell you that Adani Group is stronger today than ever before…”

He said, “The clean chit given to the group by the Supreme Court makes our commitment to operational excellence and transparent disclosures clear… This has been validated not only by major rating agencies but also by global investors… The storm that tested us has become the reason for our strength…”

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. The figures are updated at the end of each business day in New York.