India's veteran industrialist Gautam Adani has lost the coveted tag of being the second richest person in Asia. Gautam Adani, chairman of the Adani Group, which is facing a fall in the stock markets this week, became the second richest billionaire in May itself. Adani has lost over $12 billion in just 4 days due to concerns over FPI ownership.
According to the Forbes Real-Time Billionaires Index, Adani's net worth has dropped to $62.7 billion from $74.9 billion at the start of this week. Chinese pharmaceutical magnate Zhong Shanshan has regained his position as the second richest person in Asia after Reliance Industries chairman Mukesh Ambani.
In the list of the rich, Zhong Shanshan's wealth is $ 68.9 billion while Ambani's is $ 85.6 billion. Shares of Adani Enterprises, Adani Power, Adani Total Gas, Adani Transmission, Adani Ports, and Adani Green Energy started falling on Monday following reports of FPI ownership.
Adani lost around $12 billion in 4 days, according to the Forbes Real-Time Billionaires List, which tracks the wealth of the world's richest people. At the beginning of the week, Adani's net worth was just over $77 billion.
In May, the Bloomberg Billionaires Index reported that Adani had overtaken China's Zhong Shanshan in terms of wealth. Gautam Adani's position has improved steadily due to the tremendous rally in the shares of Adani Group companies in the last few months. He had reached 14th place in Bloomberg's list and Mukesh Ambani, the richest person in Asia, was at 13th place. In this way, Adani was only one notch behind Ambani in the Bloomberg list.
According to the Bloomberg Billionaire Index, Adani's net worth reached $66.5 billion in May. Adani's wealth increased by $32.7 this year. At the same time, Ambani's net worth is estimated at $ 76.5 billion. At the same time, Shanshan's total net worth was assessed at $63.6 billion.