Reliance Industries Limited (RIL) chairman Mukesh Ambani has replaced Gautam Adani, chairman of the Adani Group, to become Asia and India’s richest man owing to a surge in the stock prices of RIL NSE 2.47 %.

According to Forbes Real-time billionaire list, Ambani has bagged the sixth position with a 6.21% increase of $6.1 billion taking his overall net worth to $104.3 billion. Meanwhile, Adani’s net worth grew by 0.66% to $99.9 billion.

Alternatively, as per the Bloomberg Billionaires Index consisting of the daily ranking of the world’s richest people, Ambani- with a total net worth of $99.7 billion- has pushed Adani to the second position. Adani had been enjoying the first position for the past few months due to the accelerated stock prices of the Adani group. With an established and diverse empire consisting of the energy, telecom, and FMCG sectors, Ambani has been focusing on businesses concerning tech innovations and transformations.

Adani might have lost the position but he continues to enjoy a surge in wealth as compared to the last two years.