Mukesh Ambani has surpassed Gautam Adani to reclaim the title of Asia’s richest person.

Mukesh Ambani, Chairman and Managing Director of Reliance Industries, has reclaimed the top spot in Asia’s wealthiest person list, displacing fellow Indian businessman Gautam Adani from eighth place in the world’s richest. According to the Bloomberg Billionaire Index, Mr Ambani has a net worth of $99.7 billion. Mr Adani has dropped to ninth place with a net worth of $98.7 billion.

The Bloomberg Billionaires Index, which analyses each billionaire’s net worth, said that Mr Ambani’s fortune increased by $3.59 billion in the previous 24 hours, while Mr Adani’s net worth increased by $2.96 billion.

RIL shares were up 3% at Rs 2,816.35 on the BSE on Friday, after rallying 7% in the previous two trading days amid heavy volumes.