Not Mukesh Ambani, This Industrialist is India's Richest Person

Mumbai: On Thursday, Gautam Adani, the founder and chairman of the Adani Group, dethroned Mukesh Ambani, the chairman of Reliance Industries Limited (RIL), as India's richest person.

His net worth is currently $89.5 billion, compared to $89.4 billion for Mukesh Ambani. Due to a jump in the share prices of Adani's firms, his net worth has surged dramatically in recent months.

Adani's business

He is the creator of the Adani Group, India's largest port operator.

Adani Group and POSCO of South Korea recently agreed to explore business options, including the construction of a green, environmentally-friendly integrated steel mill in Mundra, Gujarat, as well as other ventures. The investment might be worth up to $5 billion.

In response to carbon reduction standards, the non-binding MoU signed by POSCO and Adani aims to expand collaboration at the group business level in multiple areas such as renewable energy, hydrogen, and logistics.

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India's Top Five Richest People

In the list of India's top five richest people, Ambani and Adani are ranked number one and number two, respectively. The following are the other individuals:

Adani's fortune surpasses that of the world's richest woman.

Adani's net worth has also eclipsed that of Francoise Bettencourt Meyers, the world's richest woman.

Meyers' current net worth is $82.9 billion.

The Sensex has dropped roughly 1000 points.

At 10:38 a.m. on Thursday, equity indices were trading in the negative, with the Sensex down 970.39 points and the Nifty down 258.80 points.

At 56887.76, the 30-scrip BSE Sensex was down 1.68 per cent. Similarly, the 50-scrip NSE Nifty was down 285.80 points, or 1.65%, at 16992.15.