Gautam Adani, founder and chairman of the Adani Group, is now the richest person in Asia. The billionaire has overtaken Mukesh Ambani, the chairman and managing director of Reliance Industries. This comes on the back of gains in Adani Group stock values.

Ambani was Asia's richest for many years before this shift. Now, Adani's wealth stands at $92.6 billion while Ambani's wealth is about $90.8 billion, according to Bloomberg Billionaire Index. Both tycoons are among the top 20 richest people in the world. He is currently ranked No. 19 on the Bloomberg Billionaires Index, which tracks the world's 500 richest individuals.

Topping the billionaire ranking is Elon Musk, the chief executive of Tesla - the worl'd most valuable carmaker - and rocket manufacturer SpaceX. His networth of USD 656 billion is more than double of his closest rival, Larry Page. Page, co-founder of Alphabet, the holding company for Google, is worth USD 286 billion.

Jeff Bezos, founder of Amazon, is ranked at No.3 with a net worth of USD 269 billion.

Adani and Ambani are the only Indians in the top 50.