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Gautam Adani becomes the third richest man in the world!

Gautam Adani becomes the third richest man in the world. This is the first time that an Asian has made it to the list of top three richest people in the world with a net worth of $137 Billion.


With a combined market capitalization of a little over $250 Billion ( Rs 20 lakh crore ) now, Adani had a submissive start. To start a commodities trading business Adani set up Adani Enterprises for captive export-import operations.


Adani is a first generation entrepreneur. The group comprises several publicly listed entities with businesses spanning through greenfield projects. Acquisitions and joint ventures, setting up of thermal and renewable power generation projects, acquiring several ports along the Indian coastline and power transmission lines across the country, setting up data centers and starting its media business and has made huge investments commitments in the renewable energy space.


In a decade or two it also emerged as the biggest coal trading company in the country and one of India’s largest foreign exchange-earners. He has a 66% stake in Adani ports & sez ltd, 75% stake in Adani enterprises( Rs 3.6 lakh crore), 73% stake in Adani power (Rs 3.9 lakh crore), 75% in Adani transmission ( Rs 4.4 lakh crore) etc.

In over two and a half years, Gautam Adani’s wealth has galloped over 13 times. in jan 2020, his net worth was about $10 billion. In Indian currency, Adani's net worth translates to nearly Rs11 lakh crore.


According to a Bloomberg report, Gautam Adani has added $ 60.9 billion to his fortune in 2022 alone, five times more than anyone else.


In April 2021, Adani group became the third Indian conglomerate to cross us $ 100 billion in market capitalization and crossed the market capitalization of us $ 200 billion in the following year i.e., April 2022, third Indian conglomerate after TATA group and reliance industries to do so. In the same year in august 2022 Adani group garnered a market capitalization of approximately us$ 254 billion, surpassing reliance industries.

Gautam Adani is set to build three giga factories for manufacturing solars modules, wind turbines, and hydrogen electrolyzers as a part of a $70 billion investment in clean energy by 2030, it’s stepping up investment in clean energy chains and aims to become the world’s top renewable energy produced by 2030, establishing the position of leadership.


Did you know: Cracked a Rs. 6,000 crore deal in just over 4 days. In 2018, Adani Power Limited, a part of Adani Group, executed a definitive agreement to acquire Udupi Power Corporation Limited in 2014. Believe it or not, the deal was sealed in just 100 hours! Well, the credit goes to Gautam Adani’s business acumen and excellent negotiation skills.





BY:

Hemant Singh, Gursimran Kaur


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