Asia’s richest man loses his crown

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Gautam Adani, the founder and chairman of the group, has lost his status as Asia’s richest man to Mukesh Ambani, the chairman of Reliance Industries. The losses mark a dramatic setback for Gautam Adani, the school-dropout-turned-billionaire whose fortunes rose rapidly in recent years in line with stock values of his businesses that include ports, airports, mining and cement. The tycoon – who has slipped out of top 10 on the Forbes rich list on 1st February is fighting to stabilise his companies and defend his reputation.