Indian industrialist Gautam Adani has overtaken compatriot Mukesh Ambani to become Asia’s richest person, as the Iran conflict weighs on his rival’s petrochemicals-dependent empire.
Ambani, who chairs Reliance Industries, operator of the world’s largest refinery, has shed $16.9bn so far this year — the biggest drop among the wealthiest Asians — taking his net worth to $90.8bn, according to the Bloomberg Billionaires Index.
In contrast, Adani, whose business interests span coal trading, renewable energy and cement, has seen his fortune rise by $8.1bn over the same period to $92.6bn.
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