Gautam Adani has reclaimed his spot as Asia’s richest person, surpassing Mukesh Ambani. According to the Bloomberg Billionaires Index, Adani, the chairman of the Adani Group, now holds an impressive net worth of $111 billion, slightly ahead of Ambani’s $109 billion.
A major factor behind Adani’s rise is the recent surge in Adani Group stocks. On Friday, shares of all Adani Group companies jumped significantly. This followed a report from Jefferies that praised the group’s ambitious plans to spend $90 billion on expansion over the next ten years. This positive outlook boosted investor confidence, boosting the company’s market value.
About Gautam Adani
Gautam Adani is an Indian billionaire industrialist and the founder and chairman of the Adani Group, a conglomerate of companies headquartered in India. Although, he started his career by working in his family’s textile business. His achievements include the successful expansion of the Mundra Port, India’s largest commercial port, and the development of the largest solar power project in the world.
Gautam Adani’s assets
As per LiveMint, Gautam Adani bought a house for Rs 400 crore in 2020, after winning the bid, Adani Group acquired the 3.4-acre property. He has three private jets, a Bombardier, a Beechcraft and a Hawker and privately owned helicopters. TOI also reported that Adani owns a bright red Ferrari and a luxurious BMW 7 series.
His Family
Gautam Adani is married to Priti Adani, and they have two sons named Karan and Jeet.
Market Reaction and Value Increase
The market responded very positively to the Jefferies report. At one point, the combined value of Adani Group stocks increased by Rs 1.23 lakh crore. By the end of the trading day, the total market value settled at Rs 17.51 lakh crore, reflecting an impressive gain of Rs 84,064 crore.
The past year has been tough for the Adani Group. In 2023, the Supreme Court ordered an investigation into allegations from the Hindenburg report, leading to a big drop in Adani Group’s stock prices. This caused Gautam Adani to fall from his position as the third richest person in the world. However, the Supreme Court later instructed the Securities and Exchange Board of India (SEBI) to wrap up their investigation, deciding no further probes were needed. SEBI couldn’t reach a final conclusion in its probe, helping to stabilize the group’s market position.
Despite these setbacks, Gautam Adani remains very optimistic about the future. He recently said, “The road ahead is paved with extraordinary possibilities, and I can promise you that the Adani Group today is stronger than it has ever been.” His positive outlook shows his confidence in the group’s continued growth and success.
Global Billionaires’ Rankings
Globally, Bernard Arnault is the richest person with a net worth of $207 billion. He’s followed by Elon Musk, worth $203 billion, and Jeff Bezos, with $199 billion. These rankings highlight the highly competitive nature of global wealth.
Gautam Adani’s return as Asia’s richest person underscores the volatile and competitive world of billionaires. With strong stock performance and ambitious growth plans, the Adani Group is set for continued success. Despite recent challenges, Adani’s optimistic vision points to a bright future for his company, cementing its position in the global market.
