In recent years, the Adani group, a conglomerate with businesses in sectors such as energy, port and maritime transportation, mining and edible oil, has grown dramatically in value, propelling Gautam Adani to the world’s sixth-richest person with a net worth of $118 billion. This has been fueled by a meteoric rise in the value of the Adani group’s publicly traded stocks. According to the Bloomberg Billionaires Index, the 59-year-old entrepreneur has surpassed Google’s legendary co-founders Larry Page and Sergey Brin in terms of wealth.
Gautam Adani now 6th richest person in world, $20.6 billion richer
Important to note in this context is that Adani’s net worth increased by $8.57 billion, or approximately Rs 65,091 crore, on Monday, owing to an increase in the share prices of Adani Green Energy, Adani Enterprises, Adani Gas, and Adani Transmission on the New York Stock Exchange. The shares of Adani Group rose by as much as 16 percent on Monday, despite the fact that the country’s benchmark indices finished the day with losses.
Adani Green Energy enters the list of the top ten most valuable companies on the Bombay Stock Exchange, replacing Bharti Airtel.
Gautam Adani has become the world’s wealthiest person this year, thanks to an increase in his personal fortune of about $41.6 billion dollars. Meanwhile, according to the most recent Bloomberg billionaire ranking, Mukesh Ambani, chairman of Reliance Industries (RIL), India’s most valuable firm, has a total wealth of $97.4 billion, making him the 11th richest person on the planet. He has seen a rise in his personal wealth of $7.45 billion so far this year. According to the Bloomberg wealth index, Adani is $20.6 billion ahead of Ambani at the moment, and it may be difficult for the chairman and CEO of Reliance Industries to catch up.
What has made Adani so wealthy, and so quickly, is a pointless question. Clean energy, airports, and power plants are among the areas where the mogul is investing. Adani Green Energy is the massive stock market gainer that propelled Adani to the top of the market rankings. On the Bombay Stock Exchange, the company’s shares rose by 16.25 percent to close at Rs 2,701.55 a share on Monday. It made it onto the list of the top-10 most valuable corporations as its market capitalization soared above Rs 4.22 lakh crore.
Throwback: Gautam Adani, India’s richest man, escaped the 2008 Mumbai terror attack and kidnapped and is now the country’s richest man.
Ambani has been at the top of the list of India’s wealthiest people for the past 14 years. After being momentarily dethroned by pharmaceutical tycoon Dilip Sangavi a few years ago, the oil-to-telecom conglomerate head reclaimed his position as chairman and CEO.
This Indian tycoon made more money in the last quarter than either Musk or Gates.
Adani said last week that he had achieved a net worth of $100 billion, making him the newest member of the centibillionaires club. The fact that Amazon founder Jeff Bezos (who presently has a net worth of $176 billion) was the first person since Microsoft co-founder Bill Gates in 1999 to reach the $100 billion mark in 2017 is worth emphasising. Tesla CEO Elon Musk, currently the world’s richest person with a fortune of $249 billion, became the latest member of the exclusive club in 2020.