Indian business tycoon Gautam Adani has joined the $100 billion club of the richest entrepreneurs in the world. Currently, his net worth is a little over $120 Billion and he is at Rank 6 on the Bloomberg Billionaires Index. His net worth has increased by 57.4% YTD (year to date). With this, he is only $ 5 Billion behind ace investor Warren Buffet!
He has become India’s richest man, surpassing Mukesh Ambani who held the rank in India for quite a while. Both of them have switched spots on numerous occasions and the competition has been neck to neck. Mukesh Ambani is at the 11th Rank on the Index today with a net worth of & 94.4 Billion.
Adani is the chairman of the Ahmedabad-based multinational conglomerate and his net worth accelerated due to strong performance by the group’s listed companies. He owns a 75% stake in Adani Enterprises, Adani Power and Adani Transmission, 37% of Adani Total Gas, 65% of Adani Ports and 61% of Adani Green Energy.
There are a total of seven Adani Group companies listed on the bourses in India, with a market capitalization of over $151 billion. The share prices of these companies increased as follows, year to date (YTD):
| Company | Current Market Price (₹) | % Increase YTD |
| Adani Enterprises Ltd | 2,145.00 | 24.92% |
| Adani Power Ltd | 232.50 | 129.52% |
| Adani Green Energy Ltd | 2,890.00 | 114.57% |
| Adani Ports and Special Economic Zone Ltd | 811.00 | 10.10% |
| Adani Total Gas Ltd | 2,409.00 | 38.15% |
| Adani Transmission Ltd | 2,650.00 | 53.08% |
| Adani Wilmar Ltd | 676.95 | 152.36% |
As of April 02, 2022, Gautam Adani’s net worth increased to $100 billion taking him to the tenth rank on Bloomberg Billionaire Index. The businessman’s wealth increased by $43.9 billion so far this year.
The Russia-Ukraine war led to a lot of turbulence in the markets in India and globally. However, Adani Group’s stocks outperformed despite the heat. Experts say that these stocks surged due to the rise in commodity prices.
There was a spike in the prices of palm oil which led to higher trading activity. Adani Wilmar has a huge stash of palm oil inventory that it can sell at higher margins.
The shares of Adani Power rose after the Supreme Court order in favour of the company. The apex court has asked three Rajasthan-based Discoms to clear their dues. Recently, Abu Dhabi’s IHC invested $2 Billion in Adani Enterprises, Adani Green Energy and Adani Transmission.
As per a Bloomberg report, the Indian Billionaire can buy 61.4M troy ounces of gold or 1.07B barrels of crude oil with his net worth of $120 Billion. The amount is equivalent to 0.575% of the GDP of the United States or 1,783,553 times the median U.S. household income!
