Gautam Adani crashes out of the $100 billion club, but still is 10x richer than he was 2 years back
Gautam Adani, the richest Indian in the world, has crashed out of the elite club of billionaires with more than $100 billion in wealth.
- A mere month ago, Adani was tied with Bill Gates as the fourth richest person in the world, with a wealth of $125 billion.
- In this period, Adani group’s six listed entities lost over ₹2.36 lakh crore in market capitalisation.
Less than a month ago, riding on the rally in Adani group companies, Gautam Adani tied with Bill Gates as the fourth richest person in the world. However, since then, he has lost nearly $27 billion in wealth – with a $7.6 billion loss from yesterday alone.
Despite the massive decline, Gautam Adani has still added $23 billion this year, according to Bloomberg Billionaires Index. That is a healthy growth of 30% in the first five months of 2022.
From $10 billion to $100 billion
Gautam Adani is still 10 times richer today than he was two years ago, when he was worth just $10 billion.
He’s still the sixth richest person, only behind
Here’s why Gautam Adani lost $1 billion a day in the last one month
Adani’s decline in wealth is easily noticeable from the major corrections that his companies have witnessed in the last one month. The Adani group has seven listed entities. All but one experienced a decline in the last one month.
Source: NSE, as on May 25, 2022
|Company||1-month return||Market capitalisation (in crore)||Change (in crore)|
|Adani Total Gas||-6.68%||₹2,63,003||-₹18,826|
Adani Green, the renewable energy company, lost over a fifth of its market capitalisation but is still the most valuable company in the group.
The only outlier in this list is Adani Power – and the reason behind this is clearly the addition of the company in MSCI’s global index.
Since MSCI’s addition of the company in its index, Adani Power shares were locked in a 5% upper circuit daily for seven consecutive days, before experiencing moderate correction in the last two days.
Here’s what Gautam Adani has been up to recently
Gautam Adani has a diversified portfolio of businesses and industries he operates in, right from the dirty coal mining business to the future of the planet – renewable energy.
He also has his fingers in the fast-moving consumer goods (FMCG) sector which has been under the pump due to rising input costs, but benefited nonetheless due to boiling edible oil prices. The Adani Wilmar IPO was key to Gautam Adani dethroning Mukesh Ambani as the richest Indian.
He also acquired cement manufacturing giants ACC and Ambuja Cement from Holcim in a deal valued at $10.5 billion.
Towards the end of April this year, Adani announced his foray into the media business by creating a new subsidiary – AMG Media Networks. The new subsidiary will carry out media related business including publishing, advertising, broadcasting and distribution of content over several media networks.
HUL, Britannia and ITC can now breathe easy say analysts – from inflation and even stagflation worries
Gautam Adani is now as wealthy as Bill Gates – rally in Adani group companies makes him the fourth richest person in the world
Adani Wilmar revenue rockets fuelled by boiling edible oil prices
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