Adani is the first Asian to make it to the top three in the Bloomberg Billionaires Index. He surpassed France’s Bernard Arnault with a net worth of $137 billion. Tesla CEO Elon Musk is the world’s first with a net worth of US$251 billion. Amazon owner Jeff Bezos is second with a net worth of US$153 billion.
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Wealth.. still, in the past
Adani added US$ 60.9 billion to its wealth in 2022 alone. That’s five times more than anyone else. In February this year, he took over the title of Asia’s richest man from Mukesh Ambani. Since then, Ambani and Adani have taken turns to maintain the position of Asia’s richest man.
At the time of the lockdown imposed due to the threat of Covid, Adani’s net worth stood at US$ 10 billion on 1 January 2020. At the same time, Ambani’s assets stood at US$59 billion, a six-fold increase over Adani’s. Today, Ambani, who is at the 11th position, has a net worth of 91.9 billion, while Adani’s net worth is 137 billion.
Adani is the only Indian who started five companies with a market value of Rs 1 lakh crore as per Haroon India report in September 2021. In 2021, he was making a fortune of around six thousand crores every week. Last month, Adani overtook Bill Gates as the world’s fourth-richest person.
A growing business
The Adani Group has been trying to expand its business in the country on a massive scale for the past few months. The group has businesses in most eye-catching sectors such as coal mining, ports, data centers, cement and media.
Adani Group is India’s largest private port and airport operator. City gas distribution and coal mining are all businesses run by the Adani Group. Adani recently invested USD 70 billion in green energy by pledging the Carmichael mine in Australia.
Adani Group acquired cement companies Ambuja and ACC, which were controlled by Switzerland-based Holcims. Last May, the group entered into an agreement with Softbank for its renewable energy business. Adani Wilmer is a 50:50 joint venture with Asia’s largest agribusiness company, Wilmer International.
Giants like Warburg Pincus and Total Energies have invested in Adani’s green energy business and infrastructure development. The recent rise in coal prices has also helped the group. Last week, Adani was in the news again after buying NDTV shares. The group bought 29.18% stake.
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Gains above market returns
Adani Group has 7 publicly traded companies. Many of these have given returns of up to 1000% in the last two years. If we look at the figures from January 2020, Adani Total Gas alone has given a gain of 1900%. Adani Enterprises has grown 1400% since 2020. Adani Transmission gave 1000% profit and Adani Ports shares 120% gain during the same period. Adani Wilmar, which was listed on February 8 this year, has given its investors around 157 percent profit so far.
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