The rise in the value of the Adani group's shares has made its founder, Gautam Adani, the world's third-richest person. He is the first Asian to break into the top three, according to the Bloomberg Billionaires Index.
Elon Musk maintained his number one position, with a net worth of $245.0 billion, followed by Jeff Bezos ($150.2 billion) and Mr. Adani at $142.7 billion.
The value of Gautam Adani’s holdings in Adani Group companies soared to $112 billion in the past two years, the highest among all billionaires in the world, according to a report by Economic Times.
Six out of seven Adani group stocks have turned into multi-baggers in the last one-year period. Adani Wilmar, which was recently listed, is trading 197.08% higher than its issue price of ₹230/share. The listing of Adani Wilmar comes at a time when Gautam Adani overtook Reliance Industry’s Mukesh Ambani to take Asia's richest spot.
|Scrip Name||% Yearly Returns|
|Adani Total Gas||140.9|
|Adani Green Energy||121.6|
|Adani Ports & Special Economic Zone||12.98|
Gautam Adani's wealth has jumped 365% in the last two years, from $30.7 billion to $142.7 billion, pushing up his rank on the global billionaires’ list from 40th to the 3rd spot during this period, the report said.
When global billionaires' wealth was sliding, amid the stock market sell-off in this calendar year, only the two Indians — Gautam Adani and Mukesh Ambani — among the top 10 billionaires in the world have gained a wealth of $66.2 billion and $4 billion, respectively.
So far in 2022, the value of his companies’ holdings has gone up by $66.2 billion, surpassing the market capitalization of blue chips such as the State Bank of India, Bajaj Finance, HDFC, Bharti Airtel, and Life Insurance Corporation.
In addition to that, seven listed firms of the Adani group have contributed 79% of the country's total market-cap gains so far this year. The market capitalization of all the listed companies on BSE has risen by ₹12.74 lakh crore in 2022, whereas the seven listed Adani companies have gained ₹10.05 lakh crore in the market cap during the same period.