Gautam Adani Is $1 Billion Away From Beating Jeff Bezos As The Second Richest Person In The World

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  • Gautam Adani’s total net worth now stands at $149 billion, while Amazon founder Jeff Bezos’ net worth stands at $150 billion.
  • In 2022, Adani has nearly doubled his wealth to date, from $77 billion at the beginning of this year to $149 billion today.
  • Since the outbreak of the COVID-19 pandemic, Adani’s wealth has increased by a whopping 2,400%.

Gautam Adani is now just $1 billion shy of becoming the second richest person in the world, behind Amazon founder Jeff Bezos. Last month, Adani became the third richest person in the world, beating Bernard Arnault of LVMH.

According to the Bloomberg Billionaires Index, Gautam Adani’s net worth was $149 billion, a short distance from Jeff Bezos, whose net worth is $150 billion.

In 2022, Adani has nearly doubled his wealth to date, from $77 billion at the beginning of this year to $149 billion today.

Since becoming the third richest person in late August, Adani has added $12 billion to his net worth, while Bezos has lost $3 billion. Adani is now $115 billion away from Elon Musk, the richest person in the world.

Adani’s rise to the top of the world’s richest people was nothing short of meteoric. The Gujarat-based businessman struck gold at the start of the Covid-19 pandemic, when his total net worth was just over $6 billion.

Since then, Adani’s net worth has increased by 2,400%, catapulting him into the top three of the world’s richest people.

If you had invested ₹1 lakh in Adani stock on March 24, 2020, your investment would be worth ₹24 lakh today.

Adani Group Beats Tatas to Become the Most Valuable Group in India

Another kudos to Gautam Adani’s cap is the fact that the Adani Group is now the most valuable among India Inc. – Adani has beaten the mighty Tatas when it comes to total market cap.

According to data from exchanges, the total market cap of the Tata Group was just under ₹21 lakh crore. Now the Adani Group is over with a combined market cap of over ₹21 lakh crore.

Here are the seven publicly traded companies of the Adani Group:

CompanyShare priceMarket capitalization (in crore)YTD Performance
Adani transmission₹4.105₹4,57,954137%
Adani Enterprises₹3.749₹4,27,352118%
Adani Total Gas₹3.601₹3.96.080106%
Adani Green₹2.344₹3.71.28173%
Adani Gates₹969₹2.04.59330%
Adani Power₹399₹1.53.969285%
Adani Wilmar₹730₹94,928170%
Total₹21,06,157

Source: NSE, as on September 15, 2022

Leaving Ambani behind

Mukesh Ambani, who for years held the label of the richest Indian, now ranks a distant 8th in the Bloomberg Billionaires Index, with total wealth of $91 billion.

Earlier this year, both Ambani and Adani were in a neck-and-neck race, constantly beating each other in terms of their wealth, before Adani hit the nitro and flashed past the likes of Bill Gates, Warren Buffett, Larry Page and others.

Interestingly enough, while Bezos’ Amazon had revenues of $470 billion in 2021, Adani Enterprises – the flagship of the Adani empire – posted a measly $5.3 billion in revenue the same year.

What excessive leverage?

Last month, Fitch Group’s CreditSights expressed concern that the Adani Group is “deeply overloaded” and is putting pressure on the Adani Group’s seven listed stocks. This destroyed more than ₹94,000 crore of investor wealth.

However, two weeks later, the rating agency came back and softened its comments and made some corrections to its previous calculations. Interestingly, the follow-up report also made no references to “deeply overloaded.”

ALSO SEE:

For every 100 foreign investors take out of Indian stock markets, domestic investors have plowed back ₹89 this year

Understanding the rise of Gautam Adani: a story of how to generate wealth through hope, equity and of course debt

For every 100 foreign investors take out of Indian stock markets, domestic investors have plowed back ₹89 this year

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