Who Are The 2 Indian Tycoons Now Richer Than Mark Zuckerberg?

KEY POINTS

Gautam Adani is No. 10 on the world's richest list
He has a net worth of $92.1 billion
The businessman was a college dropout

Indian business tycoons Gautam Adani and Mukesh Ambani are now richer than Mark Zuckerberg, the chairman and CEO of Meta, formerly known as Facebook.

This happened after Zuckerberg lost $29 billion in his net worth last week as Meta’s stock fell by 26%. That pulled down his net worth to $84.5 billion. To date, Zuckerberg No. 12 on Forbes’ list of billionaires.

Get to know the two Indian billionaires who moved ahead of Zuckerberg on the world’s richest list.

Adani and his family presently stand at the 10th spot on the list, with a net worth of $92.1 billion, based on Forbes’ data.

Adani, a college dropout who started a commodity export firm in 1988, is also the richest in Asia to date. His Adani Group has businesses ranging from power generation and transmission to edible oil to real estate and coal.

As per Forbes, the group has six listed companies in India, the most valuable of which is Adani Green Energy Ltd.

Adani also owns Abbot Point, a controversial coal mining project in Australia called Carmichael coal mine, billed as one of the world's largest. In September 2020, Adani Group acquired a 74% stake in Mumbai International Airport.

Meanwhile, Ambani ranked 11th on the world's richest list. He has a net worth of $89.5 billion.

Ambani was previously the richest Asian billionaire. He may now be massively wealthy, but there was a time in his childhood when he had to live in a one-bedroom flat, along with nine other members of his family, according to a South China Morning Post report.

At present, Ambani is the chairman of Reliance Industries, which was founded by his late father Dhirubhai Ambani in 1966. The firm has interests in petrochemicals, oil and gas, telecom and retail.

In 2016, the firm sparked a price war in India's hyper-competitive telecom market with the launch of 4G phone service Jio.

During the Covid-19 lockdown, Ambani reportedly raised more than $20 billion, selling a third of Jio to different companies, including Facebook and Google.