Gautam Adani's rise to 3rd richest came as stock jump topped 1,000%

During a year in which many fortunes around the world have crumbled, his net worth has nearly doubled, increasing $64.8 billion to $141.4 billion and making him the third-richest person on the planet

Gautam Adani
Gautam Adani
Bloomberg
2 min read Last Updated : Sep 06 2022 | 11:29 PM IST
First, Gautam Adani became the richest person in Asia. Then his net worth surpassed those of Warren Buffett and Bill Gates. Now he's approaching a level of wealth only rivaled by Jeff Bezos and Elon Musk. 

During a year in which many fortunes around the world have crumbled, his net worth has nearly doubled, increasing $64.8 billion to $141.4 billion and making him the third-richest person on the planet, according to the Bloomberg Billionaires Index.      

His surging fortune is due in part to the jump in oil and natural gas prices, which has lifted the MSCI World/Energy Index to a 36% total return in 2022, compared with an 18.4% loss for the broader gauge of global stocks. But even in a period of big gains across the industry, Adani’s firms stand out above the rest, with some share prices more than doubling this year. It’s attracting fresh scrutiny to the valuations of his companies, the leverage embedded throughout his business empire and his ties to India’s government.

His Adani Green Energy Ltd. and Adani Total Gas Ltd. trade at more than 750 times profit, while Adani Enterprises Ltd. and Adani Transmission Ltd. have valuations north of 400 times. By comparison, Musk’s Tesla Inc. and Bezos’s Amazon.com Inc. have price-to-earnings ratios of about 100, while fellow Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. trades at 28 times.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Gautam Adanirichest indiansAdani Group

Next Story