New Delhi: Billionaire Gautam Adani, a 60-year-old industrialist from Ahmedabad, is ending the year as not only the third richest person in the world but also the top gainer by earning more billions than anyone else on the planet in 2022, helped along by the rocket-speed surge in Adani Group stock prices.
Investors have received excellent returns this year from Adani Group stocks, with four out of seven of the giant's stocks yielding more than 200 percent. The company's total market capitalisation has also nearly doubled in the past year, reaching Rs 18.6 lakh crore in mid-December from Rs 9.6 lakh crore in 2021.
Adani increased in wealth by $47 billion in 2022, according to the Bloomberg Billionaires Index, which ranks the 500 richest people in the world. Elon Musk, CEO of Tesla, is at the bottom of the list. Despite being wealthier than Adani and the No. 2, lost $114 billion this year.
Adani is behind Musk ($156 billion) and Bernard Arnault ($163 billion), the French king of luxury retail, on the rich list. His estimated net worth is $124 billion.
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The media broadcaster NDTV's acquisition by the global conglomerate is now in its final phase. It acquired Ambuja Cement and ACC earlier this year to become India's second-largest cement producer.
Additionally, Gautam Adani topped the Asia Heroes of Philanthropy 2022 list. When Adani turned 60 in June, he pledged $7.7 billion, making him one of the world's most generous philanthropists. The funds will be used for skill development, education, and healthcare.
The unconventional Gujarati business tycoon, who dropped out of a college in south Mumbai in 1978, began his career as a small diamond trader in Dhanji Street before establishing Adani Exports, which was renamed Adani Enterprises later.