Gautam Adani surpasses Warren Buffett to become 5th richest person globally
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According to Forbes rich list, Adani held the 5th position with a total net worth of $122.3 billion, almost $1 billion higher than Buffett’s $121.7 billion.
Adani entered the $100 billion wealth club on April 4 and now holds a place in top 5 richest people in the world.
He is also the richest Asian.
The business tycoon is now behind Tesla chief Elon Musk — who continues to hold the topmost spot with a total net worth of $269.7 billion, Amazon founder Jeff Bezos with $170.2 billion, Louis Vuitton CEO Bernard Arnault at $161.2 billion and Microsoft founder Bill Gates with $130.2 billion wealth.
Shares of Adani Group companies have shown stellar performance in the past 2 years.
Adani added the most wealth in 2021, about $49 billion, at the rate of Rs 6,000 crore per weak, a report by the latest Hurun rich list showed. In absolute terms, he became the world’s biggest wealth gainer — higher than the worlds two richest persons, Elon Musk and Jeff Bezos.
The Group’s dream run has been riding majorly on green energy wave as Adani Green Energy’s shares soared over 1,600 per cent since January 2020.
Shares of Adani Total Gas jumped by a whopping 1,200 per cent, while that of Adani Enterprises soared by 1,196 per cent.
The trend has continued in 2022 as well. Since the beginning of this year, Adani Power has given over 160 per cent gains to the shareholders, while Adani Green Energy surged 110 per cent.
At close of trade on Monday, Adani Power had become the 6th Adani Group company to cross Rs 1 lakh crore market capitalisation.
Even though stock markets plunged over 1 per cent today, shares of Adani Power closed at a fresh high of Rs 272.15, rising 5 per cent.
Valuation of other group companies stood are as follows: Adani Green Energy at Rs 4.41 lakh crore, Adani Transmission at Rs 2.86 lakh crore, Adani Total Gas at Rs 2.66 lakh crore, Adani Enterprises at Rs 2.51 lakh crore, Adani Ports at Rs 1.81 lakh crore.
Latest company to be listed on the bourses among the Adani Group is Adani Wilmar, which made its market debut on February 8. Since then the share has jumped nearly 190 per cent. Its m-cap is also hovering around Rs 1 lakh crore-mark.
Reliance Industries chairman Mukesh Ambani is now the 2nd richest Asian with a total wealth of $101.8 billion, as per Forbes rich list.
Ambani is now the 9th richest person in the world.
Reliance Industries share price has jumped nearly 70 per cent since January 2020.
In terms of year-to-date, Ambani’s wealth jumped by $4.95 billion. In the same period, Adani added $41.9 billion to his net worth.
In the recent India Economic Conclave organised by Times Network, Adani claimed that if the country becomes a $30 trillion economy as projected by 2050, it can also be home to a nation wherein no one will go to bed on empty stomach.
“We are around 10,000 days away from year 2050. Over this period, I anticipate we’ll add about $25 trillion to our economy. This translates to an addition of $2.5 billion to the GDP every day. I also anticipate that over this period, we’ll have eradicated all forms of poverty,” he said.
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