Gautam Adani is the richest person in Asia and has recently dislodged Bernard Arnault, co-founder of Louis Vuitton, from his position as the third richest person in the world. Now he became third richest person in the world after Elon Musk and Jeff Bezos.
Jeff Bezos of Amazon has a net worth of $153 billion and Gautam Adani is at $137 billion. Although these two are ahead, Elon Musk has a net worth of $251 billion, beating both by a significant margin.
Adani, who has the most capital in 2022, earns $61 billion in personal wealth. In comparison, Elon Musk loses $19 billion, Jeff Bezos loses $39 billion, and Mukesh Ambani builds up a net worth -$2 billion that year.
Adani and Ambani have been neck-to-neck for the past few months but Adani has shot ahead of Ambani, who has only 92 billion dollars net worth.
Reliance Industries’ market cap has decreased recently, and now Ambani is no longer in the top 10 billionaires list.
Gautam Adani takes over place on Forbes list of all-time wealthiest persons
Just last week, CreditSights released a report that stated that the group of seven listed stocks experienced a massive fall Rs. 94,000 in its valuations because of the group’s extensive debt.
The report predicts that their chosen path of inorganic growth via acquisitions is over-ambitious and could lead to a ‘massive debt trap’. In the worst case, it could lead to one or two companies in the group going bankrupt.
The Indian Adani group recently received approval for an open offer for two cement factories from May, acquiring them for $10.5 billion. It also purchased Israel’s Haifa port for $1.18 billion.
The equity infusions into the group are few and far between, but they compare favorably to what it would cost to make upgrades. The investor report also noted that the group chairman has substantial personal wealth.
Adani’s stock grew by 23 times since first covid lockdown
Gautam Adani’s claims of Covid’s success are now taking a different perspective as his wealth increased nearly 23 times since the first covid lockdown.
In order to better understand Adani’s rise, it’s important to know where he started from.
Data from Bloomberg revealed that on the day India was put under a nationwide lockdown due to Covid, Adani’s total wealth was $6 billion.
Consider if you have invested in adani’s stock at that time, now your wealth has increased 23 times. Thanks to Adani’s success, you could now invest in him 23 times over and still grow your wealth.
According to Hurun Global Rish List of 2022, Gautam Adani earned Rs 6000 Crore every week.
In comparison, Mukesh Ambani’s wealth has increased 3x since March 2020, making Mukesh Ambani the second richest person in the India today with a total value of $92 billion. Saddened, Reliance industry’s market cap has decreased recently, he is no longer in top 10 billionaire’s list.
But it’s good news for India as Gautam Adani is now third richest person in the world.
Take a look at how the Adani Group would be positioned on the stock exchanges:
|Company||Share Price||Market Cap (in Crore)||YTD Performance|
|Adani Green||Rs. 2,338||Rs. 3,70,323||73%|
|Adani Total Gas||Rs. 3,537||Rs. 3,89,046||103%|
|Adani Enterprises||Rs. 3,143||Rs. 3,70,887||83%|
|Adani Transmission||Rs. 3,856||Rs. 4,30,083||123%|
|Adani Wilmar||Rs. 683||Rs. 88,794||155%|
|Adani Ports||Rs. 836||Rs. 1,76,678||14%|
|Adani Power||Rs. 394||Rs. 1,52,059||289%|
Also Read: A man to became India’s second richest person after 20 years of struggle – Gautam Adani