India’s industrial moguls Mukesh Ambani and Gautam Adani have swept past the likes of China’s Jack Ma in global wealth rankings as the fortunes of leading billionaires in two of Asia’s largest economies diverge.
The wealth of Ambani, chair of conglomerate Reliance Industries, and infrastructure mogul Adani have jumped to $84bn and $78bn respectively, according to Bloomberg data, making them Asia’s richest businesspeople.
That reflects the growing power of India’s biggest corporate groups as the Covid-19 pandemic squeezes smaller competitors and leaves investors with few options for betting on the country’s economic rebound, analysts said.
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