Billionaire industrialist Gautam Adani, Chairman of the Adani Group, has become Asia's richest individual, surpassing Mukesh Ambani, Chairman of Reliance Industries, according to the latest Bloomberg Billionaires Index.

Adani's net worth rose to $92.6 billion, placing him 19th globally, while Ambani slipped to 20th with $90.8 billion.

The shift reflects continued volatility in global wealth rankings in 2026, influenced by geopolitical tensions and fluctuating markets.

A strong rally in Adani Group stocks during Thursday's trading session significantly boosted his wealth, adding nearly $3.5 billion in a single day and outperforming broader market indices.

Globally, Elon Musk retained the top position with a net worth of $656 billion, followed by Larry Page. Other leading names include Jeff Bezos, Mark Zuckerberg, Larry Ellison, Michael Dell, Jensen Huang, and Bernard Arnault.

Several global billionaires have seen declines in their wealth this year, with Bernard Arnault recording the steepest drop. Others facing losses include Steve Ballmer, Bill Gates, Warren Buffett, and Amancio Ortega.

A sectoral analysis shows that technology entrepreneurs continue to dominate the global rankings, while industrial, energy, and retail sectors have witnessed greater fluctuations.

Among other Indian billionaires, Lakshmi Mittal ranked 62nd, followed by Shiv Nadar, Shapoor Mistry, and Savitri Jindal. Other notable names include Sunil Mittal, Azim Premji, Kumar Mangalam Birla, and Radhakishan Damani.