Gautam Adani, the third richest person in the world, has seen a 365 per cent jump in his net worth in the last two years. Much can be credited to the rise in the market capitalisation of his companies. In the last two years, the m-cap of Adani Group companies rose by $112 billion, according to a report by Economic Times (ET).
Adani, with a net worth of $142.7 billion, is the first Asian to break into the top three. His spot on the global billionaires’ list has jumped from 40th to 3rd in only two years, the report added.
He is the only billionaire in the top 10 who has seen his wealth rise in the past couple of years. Every other billionaire on the list including Elon Musk, Jeff Bezos and Bill Gates, has seen their wealth eroding during the same period.
Out of Indian companies’ total gain in market cap in 2022, 79 per cent was registered only in the Adani Group listed companies. While the m-cap of all the listed companies on the BSE has risen by Rs 12.74 trillion, seven listed companies of the Adani Group account for Rs 10.05 trillion of this, the report added.
The Nifty index gained 1 per cent in 2022. However, Adani Group companies have gained 127 per cent on average in the year so far. Adani Power has surged a whopping 313 per cent, the ET report stated.
The valuation of Adani Group companies has also left behind several blue chip companies in 2022, including Bharti Airtel, State Bank of India, Bajaj Finance, Life Insurance Corporation of India and Bajaj Finance.