Mukesh Ambani, India’s richest man, added almost $1 billion to his wealth while Gautam Adani gained $400 million on Friday as early vote counting showed Narendra Modi’s opposition bloc is set for the biggest election win in 30 years, reports Bloomberg. Ambani, chairman of Reliance Industries Ltd., has added $6 billion to his fortune since September 2013, when Modi, the chief minister of India’s western state of Gujarat, was named prime ministerial candidate, according to the Bloomberg Billionaires Index.
Ambani, 57, has a net worth of $25.8 billion at the close in Mumbai. The wealth of Adani, who runs Gujarat’s biggest port, quadrupled to $7.6 billion, from $1.9 billion on September 2013.
The S&P BSE Sensex advanced 0.9 per cent to a record 24,121.74 at the close in Mumbai, after surging as much as 6.2 per cent. Investors are betting that Modi will revive an economy expanding at almost the weakest pace in a decade.
Reliance Industries, which operates two refineries at Jamnagar in the western state of Gujarat, gained 3.4 per cent to 1,079.25 rupees. Adani Enterprises Ltd controlled by 51-year-old Adani, who’s a Gujarat native, surged 5.8 per cent to 529.7 rupees, after rising as much as 17 per cent.
Anil Ambani, the younger brother of Mukesh, added almost $600 million to his net worth Friday. The younger Ambani, 54, has a fortune of about $8.8 billion and is the nation’s eighth-richest man, according to the Bloomberg Billionaires Index.
-With New Age input
