Gautam Adani has yet again added a feather to his crown. The Indian business mogul, who is the chairperson of the Adani Group, has not only become the richest Asian earlier this month, but also swished past legendary investor Warren Buffett to become the fifth richest person in the world now. As per data by Forbes, Gautam Adani is now richer than the 91-year-old Wall Street investor by around $2 billion, as his fortunes continued to climb as of Friday’s market close.
As per data from the Forbes’ Real-Time Billionaires List, Gautam Adani and his family as of early Monday has a net worth of $123.7 billion, while Warren Buffet stands with a $121.7 billion fortune. This came days after Forbes listed Adani as the richest individual in Asia. He is now around $7 billion short of Microsoft co-founder Bill Gates, who is the fourth richest person in the world with a fortune of $130.2 billion.
The billionaire industrialist Gautam Adani added $43 billion to his wealth in just this year, according to a report by the Bloomberg Billionaires Index. Adani has also emerged as the world’s biggest gainer, as per a report by Bloomberg. He has jumped five positions and went from being at the 10th position to moving up to fifth, and added such wealth in April alone. This month, Gautam Adani added over $20 billion to his fortune.
The success of Gautam Adani can be attributed to three of his multibagger stocks that gave the highest returns in a year. Adani Wilmar is up by 235 per cent compared to its issue price. On the other hand, Adani Green Energy has gained 110 per cent in 2022 so far. Adani Power also became the sixth group firm to hit Rs 1 lakh crore market capitalization as the stock hit an all-time high of Rs 270.80 on Monday. The stock also rose 170 per cent in a year.
Adani, whose empire comprises ports, mines and green energy, is now behind only four other business tycoons in the world — Microsoft co-founder Bill Gates with a net worth of $130.2 billion, Bernard Arnault who has a wealth of $167.9 billion, Amazon chief Jeff Bezos with an estimated net worth of $170.2 billion, and Tesla CEO Elon Musk who has fortunes worth $269.7 billion. Gautam Adani is also the richest person in India at the moment, with his estimated net worth of $123.7 billion.
Gautam Adani’s businesses in India focus on several different sectors — from airports to green energy, he has it all. The business mogul has recently been concentrating on alternative energy business, at a time when the government is promoting green energy in the country. The Adani Group has six publicly listed companies in India, including Adani Enterprises, Adani Green Energy, and Adani Power. “After the listing of the renewable energy company Adani Green, Gautam Adani’s Wealth increased nearly five times to $81 billion from $17 billion in 2020,” a report by Hurun India noted earlier this year.
On Friday, Gautam Adani agreed to buy 100 per cent stake in Ocean Sparkle, ndia’s largest marine services company at a value of $220 million. Earlier in the month, Gautam Adani announced that Adani Green Energy (AGEL), Adani Transmission (ATL), and Adani Enterprises (AEL) were getting an investment of $2 billion from Abu Dhabi-based International Holding Company PJSC (IHC).
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