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Saturday, May 28, 2022
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Gautam Adani now world’s 6th richest person, richer than Ambani

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With a net worth of $118 billion, Gautam Adani, the founder and chairman of the Adani group, a conglomerate with businesses in sectors such as energy, ports, mining, edible oil, and so on, is now the world’s sixth-richest person, thanks to a meteoric rise in the value of the Adani group’s listed stocks.

According to the Bloomberg Billionaires Index, Gautam Adani the 59-year-old mogul has surpassed Google’s legendary founders, Larry Page and Sergey Brin.

Meanwhile, in this perspective, it’s worth noting that Adani’s net worth increased by $8.57 billion, or around Rs 65,091 crore, on Monday, thanks to again in the share prices of Adani Green Energy, Adani Enterprises, Adani Gas, and Adani Transmission.

On Monday, as India’s main indices closed the day in the red, Adani Group’s stock rose by 16%.

Gautam Adani is the world’s largest wealth gainer this year, with an almost $41.6 billion increase in his personal fortune.

Meanwhile, Mukesh Ambani, the chairman of Reliance Industries (RIL), India’s most valuable firm, has a total wealth of $97.4 billion, making him the world’s 11th richest person, according to the current Bloomberg billionaire ranking.

Gautam Adani

His personal wealth has climbed by $7.45 billion so far this year. According to the Bloomberg wealth index, Adani is currently $20.6 billion ahead of Ambani, and catching up could be difficult for the RIL chairman.

Moreover, the businessman is investing in renewable energy, airports, and power plants. Adani Green Energy is the huge stock market gainer that propelled Adani to the top.

On Monday, the company’s stock climbed 16.25% to Rs 2,701.55 per share on the BSE. It climbed into the top ten most valuable corporations as its market capitalization surpassed Rs 4.22 lakh crore.

Ambani has been at the top of India’s wealthiest list for the past 14 years. The CEO of the oil-to-telecom company was momentarily dethroned a few years ago by pharmaceutical mogul Dilip Sangavi, but reclaimed his post.

Adani became the new member of the centibillionaires club last week, with a net worth of $100 billion. 

It’s worth noting that Amazon founder Jeff Bezos (now worth $176 billion) was the first person to reach the $100 billion mark in 2017 since Microsoft co-founder Bill Gates did it briefly in 1999.

Tesla CEO Elon Musk, who is now the world’s richest man with a fortune of $249 billion, became a member of the prestigious club in 2020.

Meanwhile, according to the 2022 M3M Hurun Global Rich List, whereas Ambani’s wealth has increased by 400% in the last decade, Adani’s has increased by 1,830%.

Gautam Adani’s Adani Green Energy has risen to the top 10 most valuable companies list

Adani Green Energy has risen to the top of the country’s top ten most valuable companies listed on the BSE and NSE. On Monday, the company’s shares rose nearly 16 per cent to close at Rs 2,701.55, giving it a market capitalization of Rs 4,22,526.28 crore.

Gautam Adani

Moreover, it’s also the first non-Sensex company to make the BSE’s top 10 list in terms of market capitalization. It has surpassed Bharti Airtel to claim the tenth position.

At the end of Monday’s trading, Bharti Airtel’s market capitalization was Rs 4,16,240.45 crore.

In the green energy sector, Adani Green Energy’s stock has been a popular favourite among investors. 

Moreover, because of the Gautam Adani company’s concentration on renewable energy, it has become a market favourite, with gains of 1,415 per cent since April 2020.

The astounding surge is a result of Adani Group’s recent push into the green energy market, as well as India’s vow at the COP26 Summit last year to become a net carbon-negative economy by 2070.

Last week, Gautam Adani Group boosted the company’s reputation among investors by allocating a preferential equity position to Abu Dhabi-based International Holding Co.

Through preferential share allotment, International Holding Company would invest USD 2 billion in three Adani Group green-focused enterprises.

Gautam Adani

In a statement, the group run by billionaire Gautam Adani stated, “IHC would invest Rs 3,850 crore in Adani Green Energy Ltd (AGEL), Rs 3,850 crore in Adani Transmission Ltd (ATL), and Rs 7,700 crore in Adani Enterprises Ltd (AEL).”

However, the investment is subject to shareholder and regulatory approvals, and it must adhere to Sebi regulations.

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