Gautam Adani is Asia's richest person again
What's the story
Industrialist Gautam Adani has reclaimed his spot as Asia's richest person after a surge in the shares of his conglomerate, the Adani Group. His net worth has now reached $89.2 billion, surpassing Reliance Industries Chairman Mukesh Ambani ($88 billion) and SoftBank CEO Masayoshi Son ($87 billion). The spike in Adani's wealth comes on the back of a strong rally in key Adani stocks, which have extended their sharp rally into 2026.
Stock surge
Adani Group stocks have gained significantly in 2026
Adani Green Energy shares surged nearly 7% on Friday, while Adani Energy stocks jumped around 4%. Other key stocks such as Adani Enterprises and Adani Ports and Special Economic Zone saw gains of around 2% each. Even Adani Power shares rose over 1%. These stocks have rallied between 23-56% in the year so far.
Wealth surge
US Justice Department dropped fraud charges against Adani last month
Adani's wealth has increased by around $10 billion since the US Justice Department dropped fraud charges against his group last month. This decision came after allegations of a $250 million bribery scheme over solar energy supply contracts had spooked investors. Earlier, Adani Group stocks had tumbled following accusations by US-based short-seller Hindenburg Research of stock manipulation and widespread fraud in 2023.
Global rank
Adani is now the 23rd richest person globally
According to Forbes's real-time billionaire list, Gautam Adani is now the 23rd richest person in the world. He is followed by Ambani and Son in Asia's rankings. Notably, Adani was the second biggest daily gainer on Friday with his net worth increasing by $2.5 billion. Legendary investor Warren Buffett saw even bigger gains with his net worth jumping by $3 billion on the same day.