Gautam Adani is richest in Asia with net worth at $89.2 billion: Forbes

Gautam Adani, chairman of Adani Group, saw his net worth climb to $89.2 billion, overtaking Reliance Industries’ Mukesh Ambani ($88 billion) and SoftBank’s Masayoshi Son ($87 billion), who had previously been Asia’s richest before the Japanese firm’s shares slipped on Thursday, as reported by Forbes’ Real‑Time Billionaires list.

The rise in his wealth follows a broad rally in Adani Group stocks, with Adani Power up 1.1 %, Adani Ports gaining 1.9 %, Adani Enterprises climbing 2.3 %, Adani Green Energy jumping 6.9 % and Adani Energy Solutions advancing 3.8 %.

As of Friday, the combined market capitalisation of the six listed Adani Group firms was roughly $191 billion, comprising Adani Power ($47.2 billion), Adani Ports ($44.2 billion), Adani Enterprises ($44 billion), Adani Green Energy ($26.4 billion), Adani Energy Solutions ($19.9 billion) and Adani Total Gas ($8.8 billion).

Gautam Adani’s wealth has grown by nearly $10 billion after the U.S. Department of Justice dropped fraud charges against the Adani Group last month, following accusations of a $250 million bribery scheme linked to solar‑energy contracts — claims that Adani and his executives have denied, according to Forbes.

His comeback as Asia’s richest individual follows a period of declining valuations for his firms amid multiple allegations. In 2023, U.S. short‑seller Hindenburg Research accused Adani of stock manipulation and large‑scale fraud; Indian regulators later dismissed the claims as “not established.” Similar accusations in the United States have since been resolved.

In his latest shareholder letter last month, the billionaire industrialist said the Adani Group has moved past its U.S. legal hurdles and is speeding up investments in energy, transport, logistics and digital infrastructure to capture growth from the expanding AI‑driven economy.

He characterised the recent ₹24,930 crore rights issue in the flagship company, Adani Enterprises, as a vote of confidence from investors despite ongoing concerns about governance and regulatory matters.

The Adani Group has come under scrutiny from U.S. authorities over bribery allegations tied to its renewable‑energy division, which it denies. While the U.S. Securities and Exchange Commission has settled the matter, the Department of Justice has moved to dismiss all charges against the founder and other individuals.